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GST the game changer
GST is now a reality. It is one of the world’s biggest tax reforms in one of the world’s largest economies.
Once implemented, GST will have a deep impact on our economy. New business models Supply chain models will emerge. Companies prepared for GST will reap profits.
GST will be a game changing reform for Indian economy by developing a common Indian market and reducing the cascading effect of tax on the cost of goods and services. It will impact the Tax Structure, Tax Incidence, Tax Computation, Tax Payment, Compliance, Credit Utilization and Reporting leading to a complete overhaul of the current indirect tax system.
Given the passage of the Constitution Amendment Bill for Goods and Services Tax (GST) in the Rajya Sabha on 3 August 2016, the Government of India seems committed to replace all the indirect taxes levied on goods and services by the Centre and States and implement GST by 1st July 2017. With GST, it is anticipated that the tax base will be comprehensive, as virtually all goods and services will be taxable, with minimum exemptions.
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IITD Expert Faculty: Mr. Joshi
A practicing Excise and Service Tax Consultant, is a law graduate from ILS Law College, Pune University, completed Diploma in Taxation Laws (DTL) and Certified Law Manager (CLM). He is having total experience of 10 years in the areas of Central Excise and Service Tax & various consulting firms including big four which includes audit of all kinds of firms and companies, liaison with excise and service tax departments, drafting opinions, reply to show cause notices, appeals, representing companies in legal matter etc. He also gives training to the respective departments of the companies related to excise and service tax.
Apart from his social activity, his articles on excise, service tax and customs are published in various magazines. Further, he is also on the panel of the various institutions as a visiting faculty for service tax.
Medium: English, Hindi & Marathi