‘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’

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

Taxation reforms for E-commerce can be a growth enabler

According to a recent report by the Associated Chambers of Commerce and Industry, the Indian e-commerce industry is expected to touch the US$38 billion mark by 2016. This growth will be driven by increasing internet and mobile penetration, discounts, convenience and value added services, which have grown multifold, from US$3.8 billion in 2009 to US$23 … More Taxation reforms for E-commerce can be a growth enabler

CEA’s report on Revenue Neutral Rate and GST structure: both bold and pragmatic

The much awaited report on GST Revenue Neutral Rate (RNR) is finally tabled. The report provides an excellent insight on the frailities of our existing indirect tax structure, which fragments India, creates an import bias and leads to sub-optimal productivity. While we still await the passage of the Constitutional Amendment Bill (CAB) amidst the political … More CEA’s report on Revenue Neutral Rate and GST structure: both bold and pragmatic

Aggregator of Service – now aggregator of Service Tax

The trend of online and mobile shopping has been changing our lives in a big way.  With the use of websites and mobile apps,  one can now buy almost everything from a pin to a plane from anywhere in the world.  The greatest beneficiaries of e-Commerce have been the consumer products segment and some service … More Aggregator of Service – now aggregator of Service Tax

VAT on e-commerce transactions

In the last few days, e-commerce has been the most talked about subject. The phenomenal growth of e-commerce in developing markets attracted considerable interest of the buyer community at large. However, the volumes in this virtual economy also invited the attention of the tax authority in India.