GST – The Game Changer
GST is set to become one of the biggest fiscal reforms that our country is going to witness. All businesses, small or large are going to get impacted because of this paradigm shift in the indirect tax regime. Goods and Service Tax (GST) will radically change the way business is done in India GST is not only a tax change but it’s a business change which Is likely to impact all areas of business such as costing, pricing, supply chain, taxation, accounting etc.
GST is paperless, simple and transparent Taxation system. There is a long list of benefits, which are being claimed as a result of GST law and one such benefit is removal of the cascading tax effect. In simple words “cascading tax effect” means tax on tax. It is a situation where in a consumer has to bear the load of tax on tax and inflationary prices as a result of it GST will remove this cascading effect which will ultimately reduce the burden of customers.
As three main taxes namely Excise, Service Tax, VAT subsume in GST. You need a GST handling hand for all these scenarios. No Need to Worry P K Lakhani & Co. will help you in most efficient and best manner in all the areas some of them are listed below:-
- Transition
- Migration Into GST
- Registration
- GST Registration
- GST Returns
- GST Audit
- GST Refund
- GST Overview