On March 15th, 2024, PRIME collaborated with SIDBI and CGST Shillong to host a workshop aimed at guiding entrepreneurs on leveraging digital commerce platforms and ensuring compliance with Goods and Services Tax (GST) regulations.
In the first session, S. P. Gangte, AGM of SIDBI, explained SIDBI’s significant role in the promotion and development of Micro, Small, and Medium Enterprises (MSMEs). Gangte outlined various schemes to benefit entrepreneurs, including ARJANA, SAATH, and STAR, with a particular emphasis on initiatives supporting women entrepreneurs. Highlighting SIDBI’s diverse approach, Gangte emphasized the institution’s provision of training programs on carpentry, tailoring, and candle making. Such initiatives not only empower homepreneurs but also facilitate the transition of job seekers into job providers. Gangte emphasized the substantial contribution of MSMEs, amounting to 36% of the GDP, and SIDBI’s primary focus on non-farm sectors.
The second session, led by K. Nongkynrih, SDE at SIDBI, was about the Open Network for Digital Commerce (ONDC) initiative and its integration with GST compliance. Nongkynrih explained SIDBI’s collaboration with ONDC, aiming to streamline digital marketing platforms for artisans, MSMEs, associations, and NGOs. Through ONDC, participants gain access to a plethora of benefits, including free registration, zero advertising costs, and the facilitation of bulk trading. Mystore, an ONDC-connected marketplace, was introduced as a platform enabling efficient management of products, orders, and payouts.
Furthermore, the workshop addressed the critical aspect of GST compliance, presented by Bharat Roy, Superintendent of CGST Shillong, and other officials. Roy stressed the mandatory nature of GST registration for enterprises exceeding an annual turnover of 2 lakhs rupees, excluding agricultural entities. Participants received comprehensive guidance on various GST-related procedures, including registration, modifications, cancellations, penalties, and return filing.
