Goods and Services Tax (GST)
Goods & Services Tax (GST), a game changing reform for the Indian economy by creating a common Indian market and reducing the cascading effect of tax on the cost of goods and services. GST will simplify and harmonize the indirect tax regime in the country. It will impact the tax structure, tax incidence, tax computation, tax payment, compliance, credit utilization and reporting, leading to a complete overhaul of the current indirect tax system. GST will have large ramification on business processes and there is a grave necessity for the industry members, entrepreneurs of Industry /Trade, Managerial personnel, Finance managers and professionals to ensure compliance with the Act, and for benefiting from the seamless pass through of Tax to the final consumer.