Digital solution launched for kirana stores to comply with GST

By: |
Bengaluru | August 31, 2017 9:47 PM

Retail technology platform Snapbizz Cloudtech Private Limited on Thursday launched 'Turbo', a digital solution for 'kirana' stores in the country that will enable them to comply with the Goods and Services Tax (GST).

Retail technology, Digital solution, kirana stores, kirana stores to comply with GST, comply with GST, GST, Goods and Services Tax, kirana ecosystem, rollout of GSTRetail technology platform Snapbizz Cloudtech Private Limited on Thursday launched ‘Turbo’, a digital solution for ‘kirana’ stores in the country that will enable them to comply with the Goods and Services Tax (GST). (Image: Reuters)

Retail technology platform Snapbizz Cloudtech Private Limited on Thursday launched ‘Turbo’, a digital solution for ‘kirana’ stores in the country that will enable them to comply with the Goods and Services Tax (GST). “With the rollout of GST, digitisation of the ‘kirana’ ecosystem has become imperative. It has reflected in the demand for Snapbizz solution,” said its Founder and Chief Executive Officer (CEO) Prem Kumar addressing a news conference here. Turbo, which includes a touch-screen monitor, barcode scanner and a consumer-facing television to engage the buyers, auto-computes the GST rates for all products at small-scale retail stores. “Without technology, ‘kirana’ stores would not be able to adapt to GST with different slabs for each product. They would not even be able to afford an accountant. The success of GST is very dependent on technology adoption by the masses,” Kumar told IANS at the conference.

“Whether it is a 16-year-old who works at a kirana store or a 60-year-old, technology must be in such a way that everyone can use it,” he added. The firm, present across the country’s metros and few tier-II towns, works with over 4,000 kirana stores. “We plan to spread across 10,000 to 15,000 small-scale retailers in the country by the end of this year,” the company said. Founded in 2013, Bengaluru-based Snapbizz focuses entirely on small-scale retailers in the country. According to the company’s research, out of the total 1.2 crore retail stores in the country, 80 lakh stores are small-scale kirana stores.

Do you know What is Cash Reserve Ratio (CRR), Finance Bill, Fiscal Policy in India, Expenditure Budget, Customs Duty? FE Knowledge Desk explains each of these and more in detail at Financial Express Explained. Also get Live BSE/NSE Stock Prices, latest NAV of Mutual Funds, Best equity funds, Top Gainers, Top Losers on Financial Express. Don’t forget to try our free Income Tax Calculator tool.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1RBI says next few years challenging for states; lists out ways how states should respond post-pandemic
2COVID-19 to erode 3 years of fiscal consolidation gains of states: RBI
3Spike in internal remittance, new EPFO registrations indicate recovery: Report