Skip to main content

ET GBS 2017: Some CXOs, legal eagles see gain in GST, others feel the pain


Service providers, young entrepreneurs and legal experts at the Global Business Summit voiced concerns and expressed hope with regard to the impending indirect tax regime as the parliament discussed the goods and services tax (GST) bills.

Analysing the GST as a combination of the state, central and interstate GST, Bimal Jain, executive director of A2Z Taxcorp, lamented the differential treatment meted out to services under the proposed new indirect tax structure. “Services tax rates will increase to 18% from 15%, and this will
reduce the purchasing power of the consumers,” said Jain. Another pain point which he highlighted
was the multiple statewise registrations required for service providers under the GST.

Application Service Providers (ASP) and GSTN Suvidha Providers (GSPs) are part of an indispensable chain to ensure the success of the ‘one nation, one tax’ dream GST wants
to accomplish.

Alok Agarwal and Ankit Agarwal of Alankit, spoke of the need to educate people to ensure
a smooth transition to GST from July 1.

“Increasing the awareness will help people understand the law and learning to use the
goods and services tax network (GSTN) efficiently and will ensure seamless deployment,”
said Ankit Agarwal. Sandeep Khurana, CEO of Udyog Software India, an ASP, agreed,
saying an efficient software system can help navigate the supposed ambiguities in the the government to relook at the ambiguous clauses, especially with respect to services and ensure GST is truly a flat tax regime.

Snapdeal CFO Anup Vikal lauded the GST legislation as having finally defined the
‘e-commerce’ space formally. However, he was critical of the tax collection at source
clauses made mandatory under the proposed laws. “Majority of our sellers are small and
medium enterprises, and deducting tax at source is bound to impact their cash flows.”
ervice providers, young entrepreneurs and legal experts at the Global Business Summit voiced concerns and expressed hope with regard to the impending indirect tax regime as the parliament discussed the goods and services tax (GST) bills.

Analysing the GST as a combination of the state, central and interstate GST, Bimal Jain, executive director of A2Z Taxcorp, lamented the differential treatment meted out to services under the proposed new indirect tax structure. “Services tax rates  ..

ervice providers, young entrepreneurs and legal experts at the Global Business Summit voiced concerns and expressed hope with regard to the impending indirect tax regime as the parliament discussed the goods and services tax (GST) bills.

Analysing the GST as a combination of the state, central and interstate GST, Bimal Jain, executive director of A2Z Taxcorp, lamented the differential treatment meted out to services under the proposed new indirect tax structure. “Services tax rates  ..

Comments

Popular posts from this blog

What is Cloud Services and Cloud Computing?

A cloud service is any service made available to users on demand via the Internet from a cloud computing provider's servers as opposed to being provided from a company's own on-premises servers. Cloud services are designed to provide easy, scalable access to applications, resources and services, and are fully managed by a cloud services provider.
On the other hand, Cloud computing is a type of computing that relies on shared computing resources rather than having local servers or personal devices to handle applications. In its most simple description, cloud computing is taking services ("cloud services") and moving them outside an organization's firewall. Applications, storage and other services are accessed via the Web. The services are delivered and used over the Internet and are paid for by the cloud customer on and as-needed or pay-per-use business model.
Cloud Delivery Models
Cloud computing can be divided into several sub-categories depending on the physical lo…

Addiction

When it comes to addictions and the problem that come with them, it is difficult to draw a line on the genesis of the whole vicious matter especially when the victim is going through a destructive phase of the addiction cycle.While there are many forms of addictions, there are those that have defiantly been with the human race for the longest time such as drug and sexual types of addictions and the paper focuses on such types. Addictions in their nature affect the deepest parts of a human being such as the physical and psychological and since they have the potential of chaining the addicted person in ways that are uncontrollable and unhealthy, the need to come up with relatively correct information about their nature becomes imperative.
What is the exact nature of addictions, are they behavioral or genetic? There are divergent schools of thought concerning its nature and while one faction such as the doctors propose that they are caused by genetic and environmental factors, others i…

New SAP Analytics Cloud Content for SAP Business ByDesign

We’re excited to announce the release of new pre-packaged analytics content for SAP Business ByDesign!

For months, our engineering teams have been working hard on a multi-faceted plan to tighten the integration of SAP Analytics Cloud with select SAP Analytics Cloud applications. These plans include an extensive cross-functional team focused on developing content and APIs for more than 20 applications.

Pre-packaged content is an excellent opportunity to extend native application reporting, with advanced, purpose-built analytics from SAP. Moreover, SAP Analytics Cloud content is free-of-charge, can be deployed as is, or can be fully customized to suit your needs.
Here’s what has been delivered for SAP Business ByDesign.
Financial Performance Easily visualize the performance of key financial metrics across your organization, with drill paths and filters which allow you to track profitability across regions and by product.
Procurement Track, spend, and maintain controls over time…