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What is GST ( Goods and Service Tax ):
Goods and Service Tax (GST) is the boldest of tax reforms post-independence. This will subsume several indirect tax legislations and is a tax trigger, which will lead to expansion of economic activities for all major industries.
The The GST Act 2016 will not only aid the ease of doing business but also re-engineer business processes of companies. It is not merely a tax change, but a business change which is likely to lead the growth of India's GDP. It will bring in various benefits or advantages including the following.
Benefits of GST for business and Industry:
Uniformity of tax rates & AMP structures
Removal of cascading effect of taxes
Simple and easy to administer
Single and transparent tax
It is important for every business professional to learn the nuances of the Goods and Services Tax Act.
Challenges under GST in India:
It is a new and evolving law, every day there are some updates and the business should be able to handle all the changes in GST law in India on real time basis. Further, the concept and procedure are different from the existing law.
Methodology to Overcome the GST Challenges and issues for Businesses:
The challenge before the business is to quickly adapt to the new GST tax law and gain the first mover advantage by GST registration to get the GST exemption.
Why you should choose us your GST Consultant in Pune - India:
Interlink Capital provides GST services in Pune, India. Our GST consultants / advisors team consists of Indirect tax professional from various backgrounds like Big4 tax firms, reputed law firms and have in-depth knowledge of the existing laws and practices which help to make the transition smooth. The team is engaged in imparting GST training seminars at various Government, Trade Associations, Corporate and Academic organizations. We have the requisite experience and band width to assist the organization to quickly analyse the impact of GST on their business and steps to re-engineer the business process to align the same with GST regime. Read more about GST FAQ