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On July 1, 2017, the Indian government rolled out Goods and Service Tax (GST) to simplify the country’s tax structure. The basic philosophy behind putting it was one nation, one tax, and one market. GST has largely subsumed several federal and state-levied taxes, including excise, VAT, and service tax. Businesses must get registered for GST … Read more

Goods and Services Tax (GST) is an indirect tax levied by the government of India on the supply of goods and services. TDS (Tax Deducted at Source) and TCS (Tax Collected at Source) are two important constituents of GST, through which revenue is collected from various sources, and on-time payment of taxes is ensured. In … Read more