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GST: India Inc gets ready, in fits and starts

Firms across sectors say they are ready for new regime, but SMEs find the deadline challenging

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Gst

BS Reporters  |  New Delhi/Mumbai/Chennai 

The biggest tax reform since Independence — goods and services tax (GST) — was kicked in from Friday midnight and companies say they will keep their date with the new indirect tax regime.

The GST will harmonise a maze of central and state levies into a national sales tax, creating a single customs union that would ease the cost of doing business and improve growth of India’s gross domestic product. Though the intent has been hailed as good for the economy, teething problems remain with a five-rate structure for various goods and services, and elaborate ...

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First Published: Sat, July 01 2017. 01:53 IST
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