GST Solution: How to Make the Transition Easier
The Indian government is introducing a new Goods and Services Tax (GST) on July 1, and there are a lot of changes coming with it. If you're not sure how the GST will affect you, don't worry – we're here to help. In this blog post, we'll outline some tips to make the transition to the GST easier. 1. What is GST? GST is a tax on most goods and services in India It is made up of a federal component and a provincial component. The federal component is 5% and the provincial component is whatever the province sets. The GST is applied to the total price of the good or service, including any taxes that are already included in the price. 2. How will GST work? The Goods and Services Tax (GST) is a comprehensive tax on the supply of goods and services in India. It is a destination-based tax that will be levied on all supplies of goods and services made in India, except for a few items that are exempt from tax. The tax will be levied at each stage of the supply chain, with the