1 July 2017 marked a very important date for India. The country is moving towards a new tax regime to ensure one indirect tax for the entire country. The implementation of the Goods and Services Tax (GST) will bring clarity, transparency and efficiency to all commercial transactions.
Here’s a short preview from the white paper:
“The new tax structure is a game-changer for the economy as well as for many businesses. The primary objective is to do away with state boundaries, spur growth and stimulate investment as well as increase compliance and efficiency. Most importantly, it is intended to make investing in and doing business with India easier than ever before.”