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Changes in GST: Here's what to expect from Jan 1

Changes in GST: Here's what to expect from Jan 1

The purpose behind the introduction of the GST regime was to eliminate the cascading impact of taxes that existed under the erstwhile regime and to allow free movement of credit. With the completion of four years of GST, the million-dollar question is whether the goal of seamless flow of Input Tax Credit (ITC) has been achieved by the implementation of GST laws.

It is safe to say that it is still a work in progress, marred with technical glitches. The government must combat bogus invoicing but while doing so it is pertinent to take care of taxpayers and compliance burden of the businesses.

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