The dynamics of commerce are set for a paradigm shift from a cash based system to a system that is cashless. Small and medium businesses are yet to cope up with this sudden shift as they find only a small percentage of their consumer base savvy with cashless transactions.
India is the fastest growing e-commerce market in the Asia-Pacific region and one of the most sought after investment options.
In the otherwise buoyant e-commerce scenario of India, a bump in the road is the problem of issues with the states’ sales tax department. The repercussions include failure of product delivery to the specific states or “stuck in transit” which eventually results in dissatisfied customers. The solution for this impasse between state governments and retailers, both online and offline, is the introduction of Goods and Service Tax (GST).