GST ready? Large companies say they are set, but worry over suppliers status

Larger companies, especially those with annual revenue of Rs 500 crore or more, may be ready for the July 1 roll-out of the Goods and Services Tax (GST), but they are still concerned about the preparedness of their supplier ecosystem. If all players in the transaction chain are not compliant with the GST system, there won’t be a seamless flow of input tax credit (ITC) across it, they said. If ITC…