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Showing posts with the label In India GST introduce on 1 July 2017

Introduction of GST Compliance services firm in India

    In India GST introduce on 1 July 2017, within a year   government and GST   counsel update/change many laws in GST Compliance. Now India have single national tax system in market by merging plethora of central and state taxes into a common tax system. It transparent and easy to administer. GST MODEL:- The progressive GST model relies on technology to help make the process secure, smarter and faster. For organizations/ shops/companies, this translates into the electronic filing of multiple monthly state-wise returns, transaction-level data upload, numerous reconciliations (revenue reconciliation, reconciliation with vendor details uploaded on GSTN invoice matching) and, at times, complex tax computation. Though some technical issues have more or less been fixed, there are still various issues that remain unaddressed. Procedural relaxations (such as postponing of returns and vendor reconciliations) have provided short-term relief but the compliance challenges are h...