GST Overhaul And Compliances

After the rollout of GST back in 2017, the landmark one nation one tax continues to evolve. Prateek Pardeshi checks on the overhaul and compliances.

- Prateek Pardeshi

Who can forget the rollout of Goods and Services Tax (GST) on July 01, 2017, flashing on screens nationwide at the stroke of midnight? Nearing the fifth anniversary, the 'One Nation One Tax' regime continues to evolve with different tax slabs and the bifurcation of essential, luxury and sin goods. A recent joint webinar hosted by the Indo-German Chamber of Commerce (IGCC) and law firm Trilegal, drew attention to the most recent developments in the GST regime and their implications. Direct and Indirect! Building on the foundation were six major pillars. These span the recent developments in indirect taxes, inverted duty structures, RoDTEP, intermediary services, the establishment of distinct persons, the draft policy of the data centers, and changes in rates. Presided by subject matter experts, the session focussed on key aspects of the GST known to have a direct impact on day-to-day business operations of the components industry too. Moderator Sabina Pandey, Regional Director Kolkata, IndoGerman Chamber of Commerce set the tone of the discussion. She said, "One of our main tasks is to assist Indian and German member companies in settling trade disputes."

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