Tag: Bharat Goenka

GST ready to sail, but majority of SMBs are still at sea, reveals survey

With less than 50 days left to the rollout of goods and services tax (GST), businesses are on edge about their preparedness. The bigger ones have to worry about the GST-compliance of all their suppliers and distributors, as even one laggard in the chain can trip them up. Bengaluru-based garment m…

GST impact: How enforcing input tax credit can hurt the SME economy

Long before the Goods and Services Tax (GST) got Parliamentary approval last week, there were opportunities through draft laws for accountants, lawyers, tax-paying enterprises — even technology companies—to participate in its creation. “The government and administrative machinery are dialog…

GST: Traders for no linkage of input tax credit & tax payment

Traders across the country have urged the government to remove the linkage of input tax credit with payment of tax from the Goods and Services Tax (GST) clause. The indirect tax reform is scheduled to be implemented from July 1, 2017 and is likely to cover over six million businesses under the GS…

These 34 companies will make your GST play less taxing

The Goods and Services Tax Network (GSTN) which is building the technological infrastructure for the implementation of GST, has finalised 34 companies as the GST Suvidha Providers (GSPs), which will offer support and services to help tax payers and businesses in compliance. The GSTN had released …

Small businessmen wary of retro tax demand under GST mechanism

The Goods and Services Tax (GST) has been heralded as India’s biggest reform since the 1991 liberalisation but one aspect of it has made certain small businesses nervous. Given that it will be virtually impossible to escape the tax net once the new levy is implemented, will this make them f…