INDIA’S COMPLEX GST ROLL-OUT POSES CHALLENGING ACCOUNTING ISSUES FOR COMPANIES
March 1st, 2017
India’s complex Goods and Services Tax (GST) regime is set for a launch on July 1 with complicating features such as multiple tax rates and a separate law to guarantee minimum revenues to the country’s states. The central government is moving ahead with the plans, even as the country’s USD2 trillion economy recovers from the shock of November’s withdrawal of high value banknotes. Meanwhile, the GST rates that will be imposed on specific products are still under discussion.
“Given that there are tens of thousands of different commodities and for each of ...
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