India's biggest tax reform GST looms, many companies unprepared - News Summed Up

India's biggest tax reform GST looms, many companies unprepared


The task will require synchronising withand with varying degrees of enthusiasm for the legislation -a daunting task by any standard. But this marks just the beginning of a legislative marathon that needs half the states to ratify the legislation. While the Centre, along with the states and leading financial institutions have set up a not-for-profit company , GST Network (GSTN), the software is being developed by Infosys. This will, however, need the passage of the legislation g slated for the t winter session. "Rolling out GST from April will be an uphill task," said a consultant.Only after the Constitution is amended that the GST Council, conceived as apex decisionmaking and dispute resolution body , can be set up.


Source: Times of India August 03, 2016 06:12 UTC



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