India Should Reduce GST on Point Of Sale Devices to Encourage Digitalization: Millennium

Bhaskar Venkatraman

Chennai, India, 2017-Nov-16 — /EPR Retail News/ —  Ever since the Indian government introduced the ‘historic’ Goods and Services Tax regime from July 2017, there have been frequent announcements for revision of rates for several items by the GST council owing to pressure from public, traders and political spectrum.

However, there are certain items which are still in the bracket of 18 per cent and 28 per cent, which, according to experts, will do no good for the government’s grand initiatives towards cashless economy and digitalization of all transaction activities.

For example, most of the Point of Sale (POS) devices are still in the higher rate of GST. While POS devices such as POS terminals, barcode scanners, barcode printers, mobile printers, receipt printers, etc are placed at 18 % slab, POS consumables such as paper rolls, ribbons and inks and also POS accessories such as pole display, cash drawers and magnetic stripe readers are still in the highest slab of 28%.

Bhaskar Venkatraman

Bhaskar Venkatraman

The higher GST slab for POS products and accessories will discourage retail vendors to go for digital transformation, feels Bhaskar Venkatraman, the CEO and Managing Director of Millennium India, a pioneer in introducing POS machines to retail businesses in India.

“The government’s digitalization move can bear the fruit only when all retail businesses, even in the remotest corner of India, automate their store by digitalizing their business operations moving out from the traditional and obsolete transaction methods. But the high GST slabs on various POS devices is a big discouragement for it. Hence, the GST Council should reduce the GST for all the POS items and accessories and also reduce the burden on importers by slashing the import duties, as majority of POS payment terminals, barcode printers, scanners and other supportive devices are being imported to India,” feels Bhaskar, who launched India’s first ecommerce portal ‘Justransact’ in 2014 exclusively for point of sale electronic items.

Even the nominal bank transaction charges for card payment at Point of Sale are scaring away retail vendors to adopt card payment option. Some of them, who have installed POS payment devices at their shops, are simply passing this burden to customers.

Post demonetization, cash still remains the major source of transaction even after one year of its implementation, though there has been phenomenal increase in card transactions. GST, which was intended to bring uniform tax regime, has so far not created the required impact among trading community as almost every week there have been some changes in its implementation or the rates.

“It is too early to suggest the impact of GST on the businesses or the economy. For any major reforms,  there will be issues which need to be addressed, and I think, the government is doing the right thing by revising the GST rates after getting feedbacks from various quarters. In the same line, 18 and 28 per cent GST for POS machines are too high to be absorbed by retail vendors. On the other hand, lower GST for POS devices will further trigger the growth of the Indian retail industry, which is currently the fastest among the Asian peers,” concludes Bhaskar.

For media contact:

K Ramanathan

Editor and Media Coordinator,
Millennium Soft-Tech (India) Pvt Ltd
ram(at)justransact(dot)com,
G-19,2nd  Floor,Block-16, 2nd Main Road,
Ambattur Industrial Estate, Chennai-600 058.

 

JusTransact Opens Online Bazaar for Indian POS Sector

Chennai, India, 2016-Oct-05 — /EPR Retail News/ — After its successful launch of India’s first E-commerce online market place for Point of Sale (POS) technology – JusTransact.com, Millennium India has added yet another ‘first’ to its credit by unveiling country’s only online B2B portal for POS brands and distributors who can converge at one place to transact simultaneously.

Aimed at cutting down the huge supply chain losses faced by thousands of hardware and software POS products vendors across India and improve sales volume of Brands, JusTransact’s Partner Zone also aimed at ‘empowering’ small, medium and large enterprises across the nation by automating their business with affordable, scalable and world-class POS technology.

bhaskar-4

Bhaskar Venkatraman, Founder and CEO, JusTransact.com

Commenting on the launch of JusTransact’s Partner Network (http://partner.justransact.com/), Bhaskar Venkatraman, Founder and CEO of jusTransact.com said: “JusTransact’s partner network throws open a unique opportunity for both POS brands and resellers who can communicate directly on a single platform, thereby cutting the supply chain losses in terms of time and money. Resellers can directly get POS products from manufacturers at much lower price and can hence pass on the cost benefit to their customers, who are predominantly small and medium retail businesses. For brands, they can find all buyers in one place and hence get great traction and growth. In short, it is a win-win condition for both brands and vendors.”

For partner network, jusTransact plays a pivotal role in connecting both POS brands across India and local vendors who can be either main/region-wise distributors, vendors, stockists, software service providers, or stores selling POS products to retail businesses.

Further listing the advantages of partner portal, Bhaskar, who is also one of the pioneers in introducing POS technology in India, said: “POS Manufacturers need not have to look for distributors for their products, but can simply register with us and sell their products. Their products can be seen only by registered vendors, who can order POS products with appropriate quantity instantly. To facilitate fast and reliable goods movement, we offer free logistics service. We pick, pack and ship to buyer’s address wherever they are.”

To make it attractive, jusTransact has kept registration ‘free’ for partners and also introduced JusMoney wallet where points are credited for every purchase which can be adjusted against the purchase value.

JusTransact currently deals with over 1000 POS products of more than 40 top brands including Epson, Honeywell, Toshiba, Posiflex, Godex, TVSE, Opticon, Casio, Bixolon, Zebra, Essae, to name a few.

Bhaskar expects that more POS brands will make use of Partner Network Zone and offer their products such as POS terminals, barcode scanners, barcode printers, automatic cash drawers, receipt printers, mobile POS, hand held terminals, etc at attractive prices to vendors, who otherwise get them from local distributors at much higher price. “The partner network will also help to speed up the automation process of India’s retail sector where more than one million traders are still following traditional transactional practices,” he said.

The Justransact partner network for POS will also create a level playing field as every vendor – from main distributors to local stockists – across India will get their goods at same price thereby avoiding unethical business practices, opined Bhaskar.

About JusTransact.com

Justransact.com is an e-commerce venture of Millennium Retech Ventures India Pvt. Ltd promoted by Millennium India Group. JusTransact.com was launched with a sole motive of providing reliable, affordable and scalable POS solutions to the fast growing retail sector in India, which is estimated to worth one trillion USD by 2020. POS technology facilitates small, medium and large businesses automate their activities, enhance customer experience and also make them competitive with established peers.

The portal has made world-class cutting-edge POS Hardware, Software and Knowledge accessible to retailers. Headquartered in Chennai and having branches in major cities in India, Justransact.com offers one-stop solution for all kinds of POS needs to both retail and non-retail business applications.

Indian warehouse and logistics industry set for makeover

Chennai, India, 2016-Jan-28 — /EPR Retail News/ — Warehouse management, which forms the backbone of distribution network across India, is all set for a complete makeover, thanks to the advancement in barcode technology which has taken an unassailable control over the effective, safe and error-free dissemination of millions of consignments across the country.

During the first half of 2015 (January-June), around 6 million sq ft was taken up by warehousing space occupiers across the country, a growth of nearly 60 per cent compared to the corresponding period in 2014.

The booming E-commerce sector, improving domestic economy, effective legislative reforms and of course, technological innovations in warehousing management have played pivotal roles for the staggering growth of Logistics and Industrial Market in India, feel experts.

Though barcodes have evolved to be 1D, 2D and now 3D patterns, scanner guns aka barcode scanners have undergone a sea change over the decade helping businesses to boost their productivity multi-fold.

From table-top and hand-held scanners to the most advanced smart phones, companies worldwide have always been on the lookout for the best alternative to the conventional gun type scanners that have been in vogue for decades.

Bhaskar

“The idea was to save a few precious seconds and efforts of workers while selecting, packing and shipping goods. The smart phone scanners offer fast and efficient warehousing solution for businesses. These devices, not only help warehouse workers to effortlessly scan barcodes and clear thousands of consignments a day, they also reduce fatigue, lessen possible human errors and improve productivity. Businesses too can track goods stored and moving out of warehouses in real time,” says Bhaskar Venkatraman, Founder and Director of JusTransact.com, a B2B ecommerce marketplace in India offering barcode scanners, barcode printers and other Point of Sale (POS) hardware devices to retail and non-retail businesses.

The gun type barcode scanners, where the workers have to hold the device and press the button each time they aim on barcodes, have been replaced by much sleeker, light-in-weight, integrated, press-free mobile scanners which help workers to read the barcodes on consignments by just aiming from distance. These devices are mini computers themselves that can store large amount of data for analytical and other business planning purposes in future.

Zebra Technologies, one of the leading makers of scanners, is betting on their new gun which they claim, will eliminate the need for warehouse workers to extend their arms continuously or turn their wrists. Zebra says its new baton-like device which has a camera and touch screen, manifolds scanning speed and reduces stress on workers’ arms. Other leading brands in market such as Honeywell, Motorola, TVSE, Argox, Datalogic and Unitech have entered the market with their new offerings – all sought to improve efficiency and productivity of warehouse workers.

Dinesh Gupta, general manager of Kolkata-based High End Logistics, says every employee in his warehouse makes around 3,000 scans during his 8-hour shift. The ergonomically designed and improvised barcode scanners helped his employees to achieve 10-20 per cent improvement in picking rates because they no longer had to push buttons.

Online retailers as well as logistics firms are looking for new ways to improve efficiency to offset the increased transportation and labor costs while fulfilling online orders. Fierce competition from e-commerce companies on both speed and price factor has forced them to find ways to cut costs and reduce delivery times, experts say.

So, every second saved by employees at warehouses while picking or packing process does matter for companies which transport millions of cartons daily though their distribution networks across India, says Bhaskar, whose portal offers most advanced barcode scanners and printers from over 40 leading manufacturers.

According to a VDC Research, the global sales of mobile scanning devices used in warehouses have reached $850 million in 2015, showing a 33 per cent rise since 2013.

“The exploding e-commerce is driving the market need for advanced data capture solutions,” says Richa Gupta, a research analyst, who further states that by frequently pressing the button while scanning barcodes, employees may develop health hazards like injury to hand or orthopedic disorders.

Endorsing this Dr Bashir Ahmed, a senior ortho-surgeon from Vijaya Health Centre in Chennai, says, “Warehouse employees can suffer from carpal-tunnel syndrome and other injuries due to repetitive hand/finger movement.”

While gun type scanners still rule the transportation and warehousing industry in India, the advanced smart phone type integrated scanners or Point of Sale hand-held devices should be adopted by companies to bring in more efficiency in warehouse management and also avoid occupational health issues among employees.

For media contact:

K Ramanathan

Content Head, JusTransact.com

Mail: ram@justransact.com

PH: +91 9384612789