Goods and Services Tax (GST) India

Goods and Services Tax (GST) India

How can I be sure that my business is ready for GST?

Thomson Reuters has the global expertise, experience, and established tax technology solutions to help organizations smoothly transition to GST.

What does GST entail, and how will it impact business?

Goods and Services Tax (GST) is a comprehensive indirect tax on manufacture, sale and consumption of goods and services across India, replacing existing indirect taxes levied by the central and state governments. GST is a destination-based, value added taxation system proposed as dual levy.  For intra-state supplies, both Centre and State charge tax on the same transaction in the form of Central Goods and Services Tax (CGST) & State Goods and Services Tax (SGST) respectively. For inter-state supplies, Centre will have the exclusive jurisdiction to levy Integrated Goods and Services Tax (IGST).

How will this impact business? GST will have far reaching impact going beyond taxation structure, tax incidence, tax computation, tax credit, credit utilization, and tax compliance to also impact supply chain management, IT systems, accounting systems and so on. These changes require a robust and comprehensive indirect tax determination and compliance solution. 

Ameya Kunte in panel discussion with Prakash Kumar, CEO, GSTN & Prashant Pillai, Country Head, Tax & Accounting, Thomson Reuters talking about the various issues related to Goods & Services Tax (GST).

How can Thomson Reuters help with GST transition?

Thomson Reuters is a global leader providing tax technology solutions to corporations across the world in a number of key areas including corporate tax, finance, accounting, pension, benefits, and payroll. Our teams have developed and implemented indirect tax solutions for tax regimes across the globe, including tax planning for goods and services tax and value added tax. Our comprehensive suite of tax technology solutions equips organizations for speedy GST implementation.

Learn more about GST

Explore how ONESOURCE Indirect Tax is the ONLY truly complete solution to handle sales and use tax, VAT, and GST research, determination, and compliance.

In the news

Article by Vinay Sethi called "Tech to be the backbone for GST implementation success" published on February 28, 2017

Data Quest has carried a 4-page story titled “GST Compliance: Time-bound steadfast steps need be in place. Discussion was around - how robust IT and tax technology will be imperative to successful GST implementation.

Money Control has carried an article by Mr. Vinay Sethi on - how technology will help in successful implementation of GST, under the headline “Key challenges in implementation of Goods and Services Tax” along with his photograph on 22November

A quote from Prashant Pillai on GST implementation by 1 April has been carried in a 4-column, front page article titled "Govt. firm on April 1 deadline for GST" on August 5, 2016.

A quote by Prashant Pillai on GST implementation by 1 April has been published on August 5, titled " 9 steps that will turn GST Bill into law"

A quote by Prashant Pillai published on August 5, titled "GST is a great step forward in creating a unified tax regime."

Prashant Pillai's quote has been published on August 5, titled "GST is a great step forward in creating a unified tax regime."

A quote by Prashant Pillai on how technology is the backbone for GST implementation and it's impact on common man has been published on August 4, titled "Impact of GST on Indian Business and Common Man"

Article by Vinay Sethi appeared on 03 August titled “Transitioning to GST involves unparalleled work and big challenges”