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Good, scary, traumatic: Businesses try to get a handle on GST
May 09, 2017
- If a business happens to buy raw material from another which is not GST-compliant and loses input tax credit, would the government compensate the former for the latter’s fault?
- Area-based tax sops can’t be abruptly terminated for reasons of propriety and law but how will the Centre and states share the burden of retaining these for the residual periods given that GST will transform their relative rights to tax revenue?
- “Under GST, the businesses will also require changing their strategy to be successful. The strategy would include choosing suppliers with a high compliance rating,” Srivastava said.
