Even though no progress was made in the last GST Council meeting on 2 and 3 December 2016, last month had seen substantial developments on the GST front. Few of these have been summarised below for reference:
(i) Rates decided
In the meeting held on 3 November 2016, a multi-tiered GST rate structure was finalised as under:Read More »
The Goods and Services Tax (GST) bill was passed in Indian Parliament (Rajya Sabha on August 3 and has been approved by the Lok Sabha on the 8th August). It has been ratified by 50% of the states. The government is aiming for an implementation date of 1 April 2017. However based on the feedback received from our colleagues, the industry is hoping that such date could be delayed to July 2017 as a lot remain to be done to allow the implementation. The new GST Law will impact IT systems, accounting processes, contracts and business models. Read More »
PwC Switzerland ITX
Michaela Merz 