Goods & Services Tax (GST)

Hello everyone, today's post is about the top trending topic in India " The GST " i.e Goods & Services Tax... At the stroke of midnight on July 1, 2017 , 70 years after gaining independence from British colonisers, India will have another "Tryst with Destiny" as the country will go under a complete tax overhaul. The new tax regime, the Goods and Services Tax (GST) , will bring massive changes in one of the largest economies of the world . The GST will change the way people conduct businesses in India as the country will become a single market with a single tax rate , irrespective of the state you conduct your business in. Barring a few exemptions, from the smallest entity on the economic food chain to multi-billion conglomerates, no one will stay untouched by the GST. The effect of the new tax regime will be proportional to the size of the entity but ultimately it will be the end user who will bear the brunt of higher tax rate or get the benefits of low...