The biggest tax reform in India over the last decade, the Goods and Services Tax (GST) resulted in a major change for companies doing business in India. While GST consolidated the previous indirect tax regime which was more complex, it also required a thorough understanding for its implications and applicability because of its direct impact on the functioning of businesses.
GST changed the game for the indirect tax scenario in India. While it took away the other forms of indirect tax, it brought with it its own nuances and technicalities for consideration. From a compliance as well as strategy point of view, GST became an important factor for businesses to consider in India. For more information, watch our video here and download the fifth chapter of the “Doing Business In India” series, where it covers:
Indirect tax saw a stellar reform by way of GST’s introduction in 2017. This meant that a streamlined indirect tax was to be levied across all sectors, the rates of which have been revised several times. This posed a need to remain constantly updated about it for its impact on business, trade, projects; and in a more general sense, its effect on the growth of sectors, industries and the economy.
To help you understand which sectors and industries are impacted by GST as well as how it consequently impacts their corresponding businesses, we at Coinmen have developed an online platform called The Brief, where we discuss India’s key performing sectors and how they’re influenced by the country’s GST regime.
Via The Brief, we aim to help businesses by giving relevant information and insights on doing business in India and by sharing the perspective of select industry experts on building a successful business presence here.
Get to know all the relevant information you need for your business journey in India!
If you have ay queries related to this document or if you have a question that we have not addressed, please feel free to write to us. One of our consultants will respond back to you with a solution within 24 hours.