And the goods and services tax (GST) is the inflection point of this journey, wherein tax professionals are witnessing how a new tax can lead to business transformation. Here are some thoughts on how the tax function in a company can contribute better through technology enablement. Insights from data: The GST initiative is generating a goldmine of big data for both the tax administration and companies. Governance and compliance: Use of manual processes for governance and compliances for tax is a common practice even in large companies in India. tax rates on contracts) and hiring tax technologists in the core tax team.

Source: Mint October 05, 2017 19:41 UTC