We INDTAX BUSINESS ADVISORS LLP offer a host of specialised GST advisory services which includes analysing its impact on business of our clients, scenario analysis including alternative business models, legislative business level implementation assistance, transition management and undertaking key compliances.
Goods and Services Tax (GST) is a tax reform of modern-day in India, and has come into effect from 1st July 2017. GST has modified the panorama of tax compliance significantly, and requires customized technology to assist for secure, smarter and faster reporting of transactions. It has a significant influence over planning for Tax Structure & Incidence, Compliances, and Credit Mechanism. It led to an entire overhaul of erstwhile Indirect Tax System.
The revolution is not just confined to the law and regulations but GST has led to infuse technology for reporting compliances. The Authorities have been proactive in streamlining needs of industry, however, with given magnitude of updation, it comes with its own set of challenges and complexities which makes it crucial for companies to re-visit the GST positions on regular intervals to restrict impact in a longer run.