How Canon Is Simplifying GST For customers, Partners
We are just a day or two away from the roll out of the biggest tax reform - GST is expected to play a crucial role in growth of the economy and bring endless opportunities to businesses. While impacting almost all industries and businesses, in some way or the other, it will create a common Indian marketplace and reduce the cascading effect of taxes. To put it succinctly, GST will subsume all indirect taxes and create just one rate for the entire nation. In a brief interaction with CXOToday, Anuj Aggarwal, Vice President & CFO, Canon India speaks on the company’s GST readiness and the opportunities and challenges that exist in this space.
“We are well prepared to adopt GST and are in a position to help our stakeholders in the transition to the new tax regime. Through workshops and Electric Direct Mails, we have created increased awareness of the upcoming tax regime, among our employees and dealers.”
However, Aggarwal said, with reference to external aspects, there are some factors that are beyond our control, which include ambiguity that still exists on rate of taxation on few products and services along with other operational guidelines. As an organisation, we are agile to adapt to any situation and be flexible to changes.
In a step to that direction, Canon is easing its partners to ensure that it’s a seamless process of accepting GST and carrying on with business. “It is imperative for us to keep our partners well versed with any changes that would affect their business in the coming time. To educate them on the same, we have conducted awareness sessions for all our partners in different cities of the country. Mailers with complete updates on policies are being sent out for their knowledge. Our teams are constantly connected with them to keep them informed on any developments.”
With an objective to ensure fair and transparent transition for our partners, we had commenced these knowledge sharing sessions regarding the GST transition, at very early stage.
Ask him, if he expects the sale of single function printers to rise, Aggarwal said, ”There are multiple factors that influence the sale of products, which include technological strength and market demand, among other factors. Therefore, in my opinion, tax rates would influence the sales only in the short run. My concern here is that excessive tax on multi-function devices may lead to illegal import into the country. This would lead to second hand and used MFD’s reaching our country.”
We are evaluating the increased cost on these devices, considering the final schedule of tax rate is yet to be out. Based on the final tax rate, the prices may be revised upward in case proposed GST tax rate is higher than the present tax cost.
Moreover, Canon is open to introducing special incentives for the customers. “At Canon, we dedicatedly abide by our philosophy of “Delighting you Always”. We have completed 20 years of strong presence in the country and the success has been possible with the continuous support of our customers, partners and employees. All of innovations and decisions are influenced keeping our customers on priority. We believe in delighting our customers by providing world class products and services,” Aggarwal mentioned.
On recruiting candidates with higher knowledge in GST for better functioning of the company, Aggarwal said, “Our HR team dedicatedly works on equipping our employees with the best world class knowledge. We always believe in preparing our people for the future and our current set of people are ready and capable of taking us through this journey.”
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