Moving to GST: Experts share insights on issues under the new tax regime

The audit by the tax authorities is envisaged under Section 65 of the Central GST Act

As the Goods and Services (GST) tax regime is set to roll out from July 1, experts throw light on contractual caution points and audits and assesments under the new indirect tax. 

‘Introduce indemnity clauses with suppliers on tax compliance’
 

Sudipta Bhattacharjee

A lot has been written about various aspects of transitioning to GST, but sparse little about contractual caution points. Businesses may refer to certain key aspects in this regard and then negotiate/enter into suitable contracts, capturing the requisite amendments.