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GST would become a reality and the nation could witness changes in the traditional ways of doing business. Businesses right now have the option to proactively embrace this reform, understand its intricacies and take a business advantage out of this change by acting immediately.    

Since the tax system is in the transitional phase, hence, this is the right time for businesses to understand the immediate action points for smooth implementation of the GST. This article provides a broad...

The much-discussed dual control and cross-empowerment issues between centre and state government sorted out recently. Introduction of new indirect tax structure in form of GST looks more certain from 1st July 2017. It has been agreed that the states would have the power to assess and administer 90% of tax payers with less than Rs.1.5 crore annual turnover while the remaining would be controlled by the centre. For tax payers with more than Rs.1.5 crore annual turnover, the states and the...

Section 166 of revised model GST law specifies that on the date of appointment, every person registered under the earlier laws with valid PAN would get provisional registration. For this purpose, the earlier laws include the following the laws:  

• Central Excise  
• Service Tax  
• State Sales Tax or VAT (except exclusive liquor dealers if registered under VAT)  
• Entry Tax  
• Luxury Tax  
• Entertainment Tax (except levied by the local bodies)  

After issue of...