 "GST prompts a change in business model")
The Goods and Service Tax (GST) is a destination-based tax applicable at multiple stages of production and rendering of goods & services and their distribution. Subsuming various indirect taxes such as entertainment tax, state and local tax, surcharge, excise duty, octroi, and others, the GST will be levied on the value of the transaction including commission, packaging and other costs incurred during sales.
As per the experts in the industry, start-ups and SMEs will be affected by the implementation of the GST and its impact will be favourable in ways more than one.
GST will benefit SMEs in the following ways:
- Ease of
