Revenue

Rupak De Chowdhuri / Reuters

How Will GST Impact The Economy And The Common Indian Consumer?

It's been raining hallelujahs all over the country ever since Parliament passed the GST Bill on Wednesday. There is much exultation about a uniform tax platform which will be beneficial to growth, provide uniformity in compliance, and herald an all-round seamless structure in all matters tax. How much of this is actually true, though, lies in the finer points of the impact of the GST on the average consumer (that's us) and the GDP of the country.
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Why Sound IT Systems Will Be The Backbone Of A Successful GST Rollout In India

The Goods and Service Tax Network (GSTN) has awarded a contract worth ₹1380 crore to Infosys Technologies to build a system which will be the IT interface for implementing the GST. This interface will take care of harnessing the entire input credit system, the Permanent Account Number (PAN)-based registrations, compliance requirements, tax payments etc and will be the nerve centre for the entire GST levy.

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