With the dealership, they will be exempted from GST: BCCI President
With the opening of the border gates of the country, the Bhutan Chamber of Commerce and Industry (BCCI) has discussed with the Ministry of Economic Affairs (MoEA) to encourage dealerships for business entities in the country.
The president of BCCI, Tandy Wangchuk said that with the dealership certification, business entities will have a lot an advantage, which includes exemption from Goods and Services Tax (GST).
“Until now, many business entities have been bringing goods without dealerships. Most of the goods are of inferior qualities but as the government has come up with big initiatives like integrated check post, the business entity should support the government transformation,” he said.
The president said that the dealership will also help to bring quality goods inside the country as the goods will be brought directly from the manufacturers of other countries and the price of the goods will also be cheap.
“If business entities are not satisfied with the dealership, the chamber will also support business entities for hardware dealerships and construction material dealerships.”
However, BCCI plans to help the business entities with skilled labour, Tandy Wangchuk said that the chamber will help them to get permits from the Labour Ministry and Ministry of Work and Human Settlement to bring in skilled labour from a neighbouring country.
Further, BCCI has sensitized the business entities in the southern part of the country with the opening of the border gate. “It is important for them to see the situation at the integrated check post as unlike before, the people will not be allowed to freely enter and exit the border gate. A person will take almost an hour to get through the process of exit and entry.”
Meanwhile, the chamber has got the seed money to support business entities but as per the Public Accounts Act, the chambers will have to get clearance from the government, it has already been submitted to the cabinet.
“We have asked for a concessional interest rate loan of Nu 300mn from the Government of India through Indian Embassy in Bhutan to support business entities but we will have to wait for the signal from our government,” Tandy Wangchuk said.
BCCI has already submitted it to the cabinet for clearance and if it gets approved the loan scheme will begin early next year, if it does not get approves then the BCCI plans to explore the internal banks in the country.
Sherab Dorji from Thimphu