GST or the goods and services tax became reality on June 30th. India changed its tax reform after over 150 years and the confusion among manufacturers, distributors and retailers was obvious and very well visible. GST does not differentiates between a service and a good; thousands of these products as well as services were accommodated under different GST tax slabs.
The Central Board ... Read Full Article
The rollout of GST on the 1st July 2017, led many traders spend the entire working day, trying to decode the system. A shopkeeper in Delhi mentioned that he was selling wheat in loose form without charging GST, however, if he sold it in a packaged form, GST would have been applicable on the same. The entire wholesale market in Delhi has gone kaput with the new complex tax regime. The purchasers... Read Full Article
India moved to a new tax regime from the July 1st, 2017 with the rollout of GST. This transition has brought about a change in various businesses and has had an impact on many individuals. It has brought about... Read Full Article