The manufacturing sector of any country is a major economic driver for the developing economies across the globe. However, a complex tax structure, inadequate infrastructure, and bureaucracy reduces its capability to perform, despite of favorable demographic and geographic position. read more
Impact on manufacturing sector: Reduced Cost of Production There are many other advantages of new GST administration and one of them is reduced cost of production that is expected to be spurred by tax reduction. read more
Impact on working capital may be significant for the manufacturing sector. Under the current regime, stock transfers are not subject to tax. However, under the GST regime, stock transfers are deemed to be supplies and are subject to GST. read more
The Goods and Services Tax or GST is an indirect taxation system that has been implemented in the country. The main objective behind rolling out GST is to bring all kinds of taxes together into a single taxation system. read more