The GST Bottomline for India. A Change is in the Offing & We Are Ready

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Presentation Description

Though many nations in the world believe that VAT or value added tax is the best possible solution for a fair tax system, architects of modern India believe that since the applicable rates & other critical factors influencing compliances of a VAT model tend to widely vary across different states in India, there is is a risk of misinterpretation of VAT creating ambiguities for revenue collections. GST, on the other hand is modelled in a simple fashion to counter the differences in a country as large as India to offer a uniform tax structure and the revenue sharing amongst the states & the central government in proportion to the actual consumption cycles. GST comes across as an ideal tax system for a country like India, caught in ill practices like under cuttings & tax evasions. It sets out to devise a simple to implement tax structure at various stages of the supply chain. Tax on the add-on value by the manufacturer, supplier and retailer at each stage of the value chain means a fair distribution of tax paid at each and not on the entire amount. Read More at: http://ecrmsolutions.co/blog/gst-bottomline-india-change-offing-ready/