‘Avoid cess, increase GST peak rate’

 India’s GST journey is in its critical phase with GST Council debating important issues like rate structure, administrative ease and GST law. Multiple rate structure is the pragmatic way forward, and aligned to what CEA report indicated. While debate around what will fall in which rate basket continues, it’s important we have consistent classification across … More ‘Avoid cess, increase GST peak rate’

Can GST effectively guide the e-commerce package?

India is on the verge of going live with the long over-due indirect tax reform, the introduction of Goods and Service Tax (GST). Despite certain delays, the Constitutional Amendment Act which empowers the Center and State to simultaneously tax the same transaction was enacted in September 2016. In the run-up to the target date of … More Can GST effectively guide the e-commerce package?

Big changes for small units under GST

Through this article, V.S Krishnan, Advisor, Tax Policy Group, EY India (Former member of CBEC) shares his view on how expenditure switching from tax incentives to infrastructure spending could benefit small and medium units as a whole.
Further, he opines that irrespective of big or small units, the self-policing mechanism provided by the GST design and tracking of every transaction by the GSTN system will ensure a more level playing field for all.

More Big changes for small units under GST

India’s looming Goods and Services Tax (GST): considerations for the pharmaceutical industry

GST is expected to transform the Indian economy in the medium to long term. The new GST framework would result in the development of a common Indian marketplace, reduce the cascading effect of multiple layers of taxes and increase revenue buoyancy for the Central Government (Government) and most of the state governments. By leveraging an … More India’s looming Goods and Services Tax (GST): considerations for the pharmaceutical industry

Has GST dialled the right number?

Over the past few months, there has been significant progress on Goods and Services Tax (‘GST’). GST is the most significant indirect tax reform proposed to be implemented in the history of Independent India.  A GST regime aligned with overall objectives of removing the cascading, unifying the Indian market, simplifying administration and compliances and ease … More Has GST dialled the right number?

GST may resolve the dual taxation impact on Media & Entertainment sector

The media and entertainment (M&E) sector has seen overall growth in all the segments, driven by rapidly rising incomes and evolving lifestyles. However, the M&E sector is plagued by multiple taxes at each level of the supply chain, leading to a complex tax structure with tax compliances at the Union, state and municipal levels.