April 11, 2017
GST Compliance Rating

Taxpayers compliance rating under GST

Taxpayers registered under the goods and services tax (GST) regime will be assigned a rating, based on how promptly they upload invoices, pay taxes and file returns.   Taxpayers registered under the new goods and services tax (GST) regime that is set to be implemented from 1 July will be […]
March 6, 2017
GST invoice matching

Liability linkage provision in GST detrimental to SMEs

A provision in the model goods and services tax (GST) law to ensure the smooth flow of credit and minimise tax evasion could hit small businesses and suppliers by favouring bigger and financially stronger ones. The ‘liability linkage provision’ allows the buyer credit for tax paid on inputs used only […]
February 13, 2017
GST impact on logistics industry

GST will improve logistics efficiency

Logistics in a general business sense, is the management of the flow of things between the point of origin and the point of consumption in order to meet requirements of customers and suppliers. The logistics of physical items usually involves the integration of information flow, material handling, production, packaging, inventory, […]
January 30, 2017
GST and taxation on Jobwork

Taxation of Jobwork under Indian GST Law

Goods and Service Tax (GST) upcoming in India is likely to result in widening the tax base substantially by covering large number of potential taxpayers who are  not covered in the tax net. It is estimated that the present assessee base on Central side itself is expected to rise to […]
January 26, 2017
GST impact on loose bills

Can GST Bill really kill the ‘kachcha bill’ system?

Speaking on the passage of the GST Bill in Parliament, Prime Minister Modi acknowledged the existence of the ‘kachcha bill’ system in India with a touch of humour. While the attending Parliamentarians responded with equal humour, the sheer magnitude of money that bypasses the government exchequer each year is no […]
January 24, 2017
5 steps SMEs should take to prepare for GST

5 Steps for SMEs to prepare for GST

The stage is now set for GST roll  out on July 1, 2017 with consensus in the GST council on the contentious issue of sharing of administrative powers between the Centre and States. This comes as a relief to the Centre after concerns that the demonetisation announcement may cause states […]