GST has been the biggest game changing tax reform the country has witnessed since Independence. With effect from July 2017, a plethora of indirect tax levies of the Centre & the States have been subsumed into a single uniform tax, thereby mitigating the complexity and cascading effect of such earlier levies. As GST affects every aspect of the business, from Tax Accounting & reporting, ERPs, profitability, cash flows, financial reporting to supply chains, IT, marketing and contract negotiating, it becomes imperative that the industry adapts to the changing environment.
This holds true not only at the domestic front but also at the international level with the rapidly evolving dynamics of cross-border trade between nations and increasing digital economy. The countries, including India, are tightening their EXIM policies to protect their domestic industries from injuries on one hand, while devising measures to enhance their export sectors on the other, compliant with WTO norms.
Sudit K. Parekh & Co. LLP is a one stop shop for all the solutions for the businesses in India. The firm holds expertise in the following areas, with the team of professionals navigating the businesses safely through the soaring tax and regulatory tides under Indian indirect tax laws.