What is GST ?
Goods and Services Tax (GST) is an upcoming system of taxation in India which will merge many individually applied taxes into a single tax. GST is a comprehensive indirect tax on manufacture, sale and consumption of goods and services throughout India to replace taxes levied by the central and state governments.
GST is a single tax on the supply of goods and services, right from the manufacturer to the consumer. Credit of input taxes paid at each stage will be available in the subsequent stage of value addition, which makes GST essentially a tax only on value addition on each stage. The final consumer will thus bear only the GST charged by the last dealer in the supply chain, with set-off benefits at all the previous stages
Implementation of GST
Goods and Services Tax Act, 2017 is expected to operative by July, 2017 in India. The said Act is uniformly applicable throughout the India. As per the provision of the Act there shall be levied a tax Called Central/State Goods & Services Tax (CGST / SGST) on all intrastate supplies of Goods and Service at the Specified Rate and collected as per the provisions of The Act and there shall be levied a tax Called Integrated Goods & Services Tax on all inter-state supplies of Goods and Service at the Specified Rate and collected as per the provisions of The Act
Keeping in View the Complicacy of the New Act we have done extensive research on the subject of GST. We have multi disciplinary team working together to accelerate the delivery of Services. We have designed an integrated approach that goes throughout the lifecycle of GST rollout Implementation, and GST Consultation.
Our dedicated team provide the consultancy and live demonstration on GST, and also rendering services to corporate in the following spheres of Goods & Services Tax:
1. Provide the Client with the Road Map to effective Implementation of GST.
2. Development of accounting and procedural manuals keeping in mind the GST framework and client’s work philosophy.
3. Provide the training to the client’s personnel on the various aspect of the Tax regime and equipping them with skill sets to
handle the GST issues.
4. Implementation of Procedures and practices required for effective Compliance with Goods and Service Tax requirements.
5. Provide the regular consultancy/advise to the Clients on any issue relating to GST.
Brief Profile on GST