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While investigators and industry chiefs are not discounting starting hiccups while moving towards the ‘One country, one business sector’ idea under the Goods and Services Tax (GST) administration, Indian industry is set to profit by the new duty framework bigly throughout the years. The GST will be effective from 01st April 2017 and most of the industries are already figuring out the impact that GST will have on them. Most effective sectors on multiple counts are likely to be the IT service sector like, website design and other service providers. With a perspective to safeguard the financial independence of the Central and State Governments, “double GST” structure has been proposed regarding which, each supply of products and administrations is required to draw in a Central GST and also State GST. While at a reasonable level this appears to be basic, here is a glance at some key viewpoints an administration supplier in the Information technology division ought to assess from a GST move point of view.
While huge progress is being made towards GST, it is trusted that the proposed approach of tax assessment of administrations is unveiled soon so that administration suppliers are in a position to prepare for the same, and all the more critically, where required, participate in an exchange with the official to guarantee a smooth move into GST.
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A creative and passionate eCommerce Strategist with over 8 years of experience in providing IT solution across various industries. Ronak Meghani, the Co-Founder of Magneto IT Solutions, a full service of eCommerce Development in the USA, UK, and India. Ronak is closely working with e-Commerce ventures since 2009 and He has helped 200+ brands for building / improving their online ventures in the area of UI/ UX, Development, Launching, Revenue Enhancement, Marketing strategy and much more and 90% stores are generating very good revenue.
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