Videocon’s GST Summit empowers consumer electronic traders in Bengaluru

Bengaluru, June 24^th , 2017: Videocon, a major consumer electronics and DTH company, along with ASSOCHAM and CEAMA, organized a GST Summit for traders where the implications of the proposed ‘one nation-one tax’ were discussed. The summit also addressed doubts raised by consumer electronics retailers. The Bengaluru chapter of the ASSOCHAM CEAMA GST summit powered by Videocon and Videocon d2h was inaugurated by the Chief Guest Shri. R.V. Deshpande, Honourable Minister for Large and Medium Scale Industries, Department of Commerce and Industries, Government of Karnataka. The seminar was also addressed by Shri. Narayan Swamy, Commissioner - Service Tax, Bengaluru.

"GST shall subsume or replace almost 20 taxes across the country and only one tax will be applicable i.e., GST. Taxes to be subsumed in GST under central GST are central excise duty, Special additional duty of Customs, service tax, central sales tax, surcharges, and cesses levied by centre while sales tax, luxury tax, entertainment tax, octroi & entry tax state under state GST. " Shri. R.V. Deshpande said. 

"GST will prove to be very much beneficial for manufacturer as due to introduction of GST the ultimate cost of warehouses and logistics will get reduced with the elimination of check post and octroi system. GST will also make imports cheaper in certain categories of white goods." he added

Bengaluru is one of the 200 cities where Videocon plans to spread awareness and impart knowledge about GST, to consumer electronics trade partners. The national rollout of the ASSOCHAM-Videocon GST Summit in Delhi was welcomed by Shri Arjun Ram Meghwal, Honorable Union Minister of State for Finance, Government of India. He commended ASSOCHAM and Videocon for organizing the summit for the benefit of the trader community.

Speaking about the initiative, Mr. Vishal Sharan, Sales Head, Videocon, said, “We are committed to welcome GST and bring everyone in the consumer electronics industry within its ambit. The objective behind organizing this summit was to equip our trade partners in Bengaluru with complete knowledge of GST and prepare them for its implementation. Videocon has always taken initiatives to ensure the welfare and growth of the industry.”

Being a responsible corporate house, Videocon is committed to serve the industry and all its stakeholders. The company recently launched a digital helpline for retailers, GST@vgmail.in, where consumer electronics retailers can email their queries with regards to GST. Videocon will endeavor to respond with the help of experts within 48 working hours.

GST Summit received a tremendous response from traders in Bengaluru. Consumer Electronics retailers, utilized the platform to clarify all their GST queries.