India’s complex indirect tax system has affected the progression of the country’s manufacturing sector. With the MakeInIndia and DigitalIndia initiative, the country is on its way to becoming a major manufacturing hub for Asia and the world. However, unless the Tax system is made easier to understand and comply with, the dream will not be…
Impact of GST on Logistics Industry
The inception of Goods and Services Tax has cut the first turf towards streamlining the logistics industry in India. Previously, all states, within the country taxed goods, which were transported across at different rates. In a nutshell, the state authorities performed a comprehensive check of the goods, and levied an appropriate tax on the freight,…
GST, A Stairway To New India
Imagine the world where you end up paying 4-5 different taxes while purchasing any good for your use. Well, put a break on your imagination because you are actually doing the same right now. In India, we have several types of Indirect & Direct taxes. Though we only think Income tax as a tax which…
Indian Manufacturing Sector: Buoyant towards a brighter future
As the year 2016 has begun it is time now for the numerous initiatives to begin performing and attracting investors in hordes to look forward to a great future for the manufacturing sector of India. The sector is poised to grow into a US$ 1 trillion industry by 2025 creating up to 90 million jobs…
Speedy policy reforms vital for India to emulate China’s export miracle
Travelling has always been my second nature. To spend some time away from the hustle and bustle of Delhi, I make it a point to travel to different places on a short vacation each summer. This summer, I paid a visit to Shillong, well known as Scotland of the East because of its unique natural…
How lack of GST can affect startup businesses in India?
With the growth of e-commerce platforms, a growing number of retailers are using them to sell their products across different parts of the country. But one major problem that retailers often face is the complicated tax structure of each individual state. Issues related to tax harassment occur when local government forces e-commerce companies to collect…