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Tag Archives: GST compliance

Input Tax Credit under GST – In a nutshell

One of the most striking changes that the GST rollout has brought is in the mechanism of availing Input Tax Credit. This change is on course to not only eliminate discrepancies but to also push more taxpayers into the tax net. Before understanding the changes done in the mechanism, let’s have an overview of Input Tax credit.  It is the credit a manufacturer receives for paying taxes on the inputs …Read More

Why GST requires serious planning?

With GST deadline just a few weeks away, significant structural changes are being scripted for India’s tax structure. Underestimating the gravity of such changes and taking GST just as another tax or a tax rate change can backfire in your business in a big way. The implementation of GST will require some serious homework, considering the paradigm shift in the way returns and tax computation will be affected. There are scores …Read More