Businesses continue with their preparations for implementation of GST in April

In detail: A business owner looking at the Customs Department’s GST website. It is suggested that even businesses that are not required to register for GST do so voluntarily. – filepic

While individuals look forward to the start of a new year, businesses, particularly small and medium enterprises (SMEs), are bracing for what could turn out to be a challenging year.

Businesses are expected to continue facing challenges carried over from last year as ongoing subsidy rationalisation and higher raw material prices translate to higher costs in business.