Goods and Services Tax - GST

The goods and services tax or simply the GST has been introduced in India to reform the current tax structure which is complex and complicated. The main purpose of GST is to reduce the multiplicity of taxes. The cascading effects of double taxation due to unnecessary laws can be dealt with GST. One of the biggest achievements of GST will be the expansion of exports increasing the revenue of the nation. The simple tax regime will bring forth simple price structures decreasing the prices of goods and services. The GST is poised to bring transparency in taxation system and also increasing the employment opportunities throughout India.

One of the main key features of the GST is the compensation plan for the loss of revenue to states for 5 years. All the goods and services will come under this plan except for alcohol for human consumption. The GST will become the destination based consumption taxation which will apply to all goods and services against its manufacture, sale and or services.

The GST will impact the GDP growth rate of the country by increasing it many folds over the coming future. GST will also increase the growth of interstate as well as the inter-country growth of trade amongst the businesses.

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We provide One-Stop GST Solutions to your business on:

GST Registration

GST Registration

Registration, Document Preperation, Online Submission

GST Payment

GST Payment

Registration, Document Preperation, Online Submission

GST Refund

GST Refund

Registration, Document Preperation, Online Submission

GST Procedure

GST Procedure

Registration, Document Preperation, Online Submission

GST Compliances

GST Compliances

Registration, Document Preperation, Online Submission

GST New Registration

GST New Registration

Registration, Document Preperation, Online Submission

GST Tax Services

GST Tax Services

Registration, Document Preperation, Online Submission

More GST Services

More GST Services

Registration, Document Preperation, Online Submission

GST Registration

GST Registration

Registration, Document Preperation, Online Submission

GST Impact On Business

Overall Impacts of GOods and Service Tax

Overall Impacts of GOods and Service Tax

One of the most emerging taxes of the future that is added on consumption goods and value-added basis is the Goods and Services Tax (GST). ...

GOODS AND SERVICES TAX Impact on Tea industry

GOODS AND SERVICES TAX Impact on Tea industry

The two tea associations i.e. the Indian Tea Association (ITA) and the United Planters’ Association of Southern India (UPASI) are worried about the ...

Impact of Goods and service Tax on Pharmaceutical Sector

Impact of Goods and service Tax on Pharmaceutical Sector

The current tax structure of our country contains many complications because of the multiplicity of taxes, tax surging, and a large number of necessary responsibilities. ...

Impact of GST on Textile Industry

Impact of GST on Textile Industry

Impact of GST on Textile Industry The textile industry and especially the cotton value chain are going to be affected negatively by the changing GST ...

Impact of GST on telecommunication industry

Impact of GST on telecommunication industry

With the model draft of GST law, the industry has been transformed in a great way. This has changed the new industry due to ease ...

Effect of GST on the Real Estate Sector

Effect of GST on the Real Estate Sector

Effect of GST on the Real Estate Sector The indirect taxes which are received from the Real Estate Sector are to be soon combined together ...

GST Impact on Importers and Exporters

GST Impact on Importers and Exporters

GST Impact on Importers and Exporters The implementation of the General Sales tax bill has been delayed by our Finance Minister. Due to this, there ...

GST Impact On Traveling Business

GST Impact On Traveling Business

The effect of GST will certainly initially affect the hospitality sector, which is a significant part of the tourism industry. Nevertheless, it can prove to ...

Impact of Goods and Service Tax on the Power Sector

Impact of Goods and Service Tax on the Power Sector

India staged a decision to implement GST (unified Good and Services Tax), which was proposed almost 30 years ago, after obtaining nod from both the upper ...

Goods and service Tax effect on manufacturing sector

Goods and service Tax effect on manufacturing sector

Countries that are emerging are largely supported economically by the country's manufacturing sector. But when all other emerging economies are seeing an increase in ...

GST effect on Logistics Industry

GST effect on Logistics Industry

As soon as the parliament gave a green light to the Goods and Services Tax bill, the Indian companies had a moment of ecstasy. The ...

Goods and Service Tax Impact On Automobile Sector

Goods and Service Tax Impact On Automobile Sector

Due to the multiplicity of taxes, elaborate compliance obligations, and cascading of taxes, there is a complex system of taxes existing in our country. A ...

Effects of Goods and Services Tax on the Energy Sector

Effects of Goods and Services Tax on the Energy Sector

If the economy continues to expand then the energy market is one of its key engines, but it is currently plagued by political instability and ...

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Learning Center

Are you REALLY Ready for GST?

The INDIAN Government has already announced in the Budget 2014 of the introduction of Goods & Services Tax (GST) in INDIA which will be effective on April 1, 2017. An important question that you need to ask yourself now, is your business GST ready?

Here are 4 challenges your business will face if you are not GST ready:

Heavy penalties and fines for non-compliance

Regardless of the size of your company, the law imposes the same compliance obligations on GST once the registration threshold of RM500,000 of annual turnover is reached...

Inadequate resources

Without adequate knowledge on GST Malaysia, your existing team may not be able to efficiently handle the initial work such as upgrading the accounting and recording system as well as... reconciliations and filings of GST returns.

Your cash flow would be affected

Businesses needs to be aware on the potential cash flow implications of GST and may need to restructure their cash flow so as to prevent having cash flow problem once GST is implemented prevent having...

Procurement

Experiences in other countries such as Australia, Singapore and Thailand have shown that customers generally go on a shopping spree before the introduction of the tax shortly before the introduction of the tax before the introduction of the tax..

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