GST Com­pli­ance: Time-bound, Stead­fast Steps need be in Place

Ac­cel­er­ated pace at which busi­nesses have to com­ply with GST is be­com­ing a bone of con­tention. Since tech­nol­ogy is at the core of GST, or­ga­ni­za­tions need to re­jig their IT sys­tems in an in­formed man­ner

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The Goods and Ser­vices Tax (GST) bill is one of the big­gest tax re­forms the coun­try has seen af­ter lib­er­al­iza­tion of econ­omy in 1991. This move has sent pos­i­tive sig­nals in the global in­vestor com­mu­nity as prospects of at­tract­ing FDI for Govern­ment’s flag­ship pro­grams such as ‘Makein-In­dia’ and ‘Startup In­dia’ have in­creased. But the ride to im­ple­ment GST is not go­ing to be easy. Many busi­nesses and states are in state of flux, given the short time- 36 www.dqin­ frame to im­ple­ment GST. Par­tic­u­larly in the ab­sence of a law that can clearly dic­tate the rules, it is hard to align tax de­part­ments by April 1, 2017. Many or­ga­ni­za­tions with large set-ups are howl­ing over a lot of com­plex­i­ties in their pro­cesses as one of the rea­sons.

Quizzi­cal busi­nesses are try­ing to fig­ure out ways that can help them to com­ply with the GST guide­lines in the short­est pos­si­ble time. Tax de­part­ments in most or­ga­ni­za­tions are re­ly­ing heav­ily on tech­nol­ogy to stream­line the

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