GST Regulations - Indirect Taxes

With the introduction of a unified Goods and Services Tax (GST) as against the prevailing plethora of taxes (value-added tax (VAT), central sales tax (CST), service tax, customs duty, excise duty, entry tax, etc.). India, with its federally cooperative indirect taxation system, is likely to implement the new GST regime in financial  year 2016-17.

The new GST regime will open up an array of opportunities for businesses across India as well as those planning to enter the Indian market. On the other hand, GST may also pose various challenges with respect to business planning, budgeting and investment. The challenge to the business community is to adapt to the transitional tax reforms by understanding the nuances of the new GST regime.

With this regards , we at Somaiya & Co. plan to assist our clients in bridging the gap over to GST by providing specialised services.