GST and Compliance as per Indian Legal Framework
Goods and Services Tax In India and Applicability for Startups: By Sandigdha Mishra, Advocate advsandigdha@paydirtprofessionals.com advocate.sandigdhamishra@gmail.com Goods and Services Tax (GST) is a form of indirect taxation in India which allows merging of existing taxes into single system of taxation. Introduction of GST is a very significant step in the world of indirect taxes in India. By merging large number of taxes into a single tax would mitigate cascading taxation in a major way. With GST, it is anticipated that the tax base will be comprehensive, as all goods and services will be taxable with minimum exemptions. GST will have an impact on almost all the aspects of the business operations in the country. It is considered as one of the most significant and path-breaking tax reforms ever undertaken in the history of independent India, India embraced the Goods and Services Tax (GST), a landmark indirect tax reform from 1 July 2017. GST is a transaction tax that subsumes mos...