Gearing up for GST
In all probability, India will roll out its biggest financial reform since independence β the Goods and Services Tax or GST – from July 1, 2017. Though delayed by three months (the original date for its rollout was fixed for April 1, 2017), the new taxation regime promises to create a single seamless national market by consolidating a range of disparate central and local taxes into one levy.
The 9th meeting of the GST Council was recently held in New Delhi wherein the center broadly consented to the statesβ demand for dual control of assessing administrative and auditing powers.
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The GST effect
Goods and Services Tax (GST)
A look at how the IT infrastructure across various businesses stands to getimpacted by the roll out of GST
Goods and Services Tax (GST) is dubbed as Indiaβs most radical tax reform. It is touted as having the potential to ramp up the countryβs GDP by as much as 2 percentage points. GST is expected to impact key business areas such as tax compliance framework, pricing of services and products and employee skill set
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