India is all set to enter a new economic era with the introduction of GST from July 1, 2017. While the new tax regime will bring about economic gains for the country and enhance ease of businesses in the long run, it is the transition phase to the new GST regime that is worrisome for Read more about An efficient ERP solution is key to tax compliance for the not so IT savvy businesses[…]
Uniting India into a single market through the complex implementation of the Goods and Services Tax is impossible without technology. GST Compliance with GST will determine the course of success in the future for all business owners. The transition to GST from the current system is no mean task. Patchwork IT solutions will be unable Read more about Role of technology heads in GST compliance[…]
By bringing businesses of various sizes under a uniform tax structure on a digital platform from inception will bring about changes of mammoth proportion on all business processes and have a far-reaching impact right from procurement to distribution and sales. While the benefits of GST implementation will be manifold, the impact on organisations can be Read more about Far reaching impact of GST on business processes[…]
GST India will lead to the transformation of businesses as we know it today across industries. Companies at this stage, therefore, need to carry out a thorough assessment of GST implementation on various aspects of their business. GST tax India will bring about significant changes in tax compliance, that needs to be acted upon with immediate effect to Read more about Impact and implementation of GST across branches[…]
The soon to be implemented Goods and Services Tax is being hailed not just as a tax reform, but a complete transformation of how businesses are carried out in India. GST will completely change the way tax computations were done by organisations so far (either through a standalone software or manually in the case of Read more about 3 things on your current ERP ahead of GST rollout[…]
Come July 1st, India will implement the much-awaited Goods and Services Tax, a uniform indirect taxation norm. It is being hailed as the most important tax reforms in the nation till date. GST is not merely a tax reform, but can also be called a business reform as GST will impact each aspect of business Read more about How using cloud control for GST transition can create robust, responsive experience[…]
Technology-assisted compliance is not a new concept in India. Not only does it help save time and cost, accuracy has gone up another notch. But, why will technology play a pivotal role in GST implementation and administration from both a government and business perspective? Software is your buddy: Basic things like invoice filing, input credit Read more about GST: Where Taxation Meets Technology[…]
The implementation of GST will have an impact on companies across the board irrespective of the sector they operate in. Come July 1st, all the stakeholders of your business must be GST compliant. This will include your vendors, dealers and distributors. If not GST complaint, you will lose the right to claim input credit on Read more about How to get your supply chain processes to be GST ready[…]
5 ways to get your large network business GST-ready The rollout of GST from July 2017 is going to be the most significant tax reform India has witnessed thus far. GST is one indirect tax for the whole nation that will replace the current multiple taxation regimes and make India a unified common market. With Read more about Roadmap for GST preparedness for companies with a large network[…]
Anyone manufacturing anything in India will tell you that the Goods and Services Tax (GST) is the single most important tax reform. India’s manufacturing sector contributes 16% to India’s gross domestic product or GDP. It is the biggest employer after agriculture. Over the past two decades though, the growth in the manufacturing sector has remained Read more about 5 ways manufacturing sector gains from GST[…]