V S Paranjape & Associates LLP.
Chartered Accountants
Goods & Service Tax Act
For new businesses and startups, it becomes impossible to navigate through various direct and indirect taxes. If you are running your business in India, its important for you to become GST compliant. With GST now in place, it is time for you to ensure you catch up to speed and seamlessly adapt it in your business as other taxes such as VAT, Excise, service tax, etc. will disappear giving way to one single Tax. GST would bring in significant changes to business processes. Depending on the operating size, geographies, and sector, the changes would be substantial and may require proactive planning with a time-bound action plan's is going to have an overall impact on the prices of various commodities, investment opportunities and the business operations, in all sectors of the economy.
Disclaimer: We have made best effort to analyze the various provisions of the act/as well circulars/notification etc However, we do not take any responsibility for any error or omission contained therein on any account. it should not be treated as professional opinion. You are advised to refer to the provisions of the act and relevant rules before structuring any transactions based on this note. The notes are prepared as per date mentioned in respective notes and we hold no responsibility to update the same.