A majority of the present Indirect Tax (IDT) levies in India are expected to be subsumed by the Goods and Services Tax (GST). This paradigm shift in indirect taxation is currently underway and the final GST Law is expected to be enforced from 1 July 2017. As part of this change, all assessees (i.e. individuals already registered under the present IDT Laws) or those who are liable to register as per the Model GST Law under the public domain, are required obtain registration under the GST regime.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
