As of now, there are over 15 – 20 different taxes that the consumer directly or indirectly pays for while consuming products like cars, cement, mobile phones and other electronics, etc. Like one of our former prime minister had admitted,… Read more
Category: GST
How GST will change the way India does business
We have always heard that ‘Business drives tax, and not the other way round’. However, in the Indian context, indirect taxes have driven businesses to re-structure and model their supply chain, systems etc. owing to multiplicity of taxes and costs… Read more
GST secretariat needed in every state
A GST Secretariat is needed in every State to address the day-to-day issues relating to the implementation Goods and Services Tax. “There is an institutional void at the State level. State GST secretariats will bring together central government and state… Read more
Big changes for small units under GST
Traditionally, indirect tax policymakers have accorded the small and medium industry favourable tax treatment. This favourable treatment was provided on the premise that small-scale units use less amounts of capital per unit of output and also provide more employment per… Read more
GST to be boost for M&E sector
The recent passing of GST has turned out to be the most important event in India’s history. With its implication on different sectors still being talked about, EY India posted a blog by Uday Pimprikar, Tax Partner, EY India, on… Read more
Centre and state coming together for tax policies
Goods and services tax (GST) is a transformative tax reform. The passing of the Constitutional Amendment Bill set the ball rolling by putting in place a dual GST—both the centre and the state will concurrently tax the whole value chain… Read more
Will GST disrupt accounting and financial reporting?
As India gets ready for transition to GST, the key question is whether India Inc. is prepared for this transition. GST transition is not only about a tax change but a complete business, finance, accounting and reporting overhaul. As management… Read more
GST: can be a big positive for FMCG
The unanimous passing of the Constitutional Amendment Bill in the Rajya Sabha has paved the way for the biggest tax reform in India since independence – India is now well and truly on track to witness the implementation of GST… Read more
GST – the final countdown begins
With Lok Sabha slated to debate at length and pass the CGST, IGST, UTGST and Compensation bills on March 29, the stage is set for the final countdown of GST. While we may argue the design and structure is not… Read more
Critical weekend at hand, GST Council expected to hear clear 3 GST bills
This weekend is critical, with the GST Council expected to approve three GST Bills, namely, the CGST, SGST and IGST Bills. This would be an important milestone in the GST journey, and once approved, the CGST and IGST Bills are… Read more