After many delays and missed deadlines, India has embraced Goods and Services Tax (‘GST’) from 1 July, 2017. GST is perhaps the most significant and complex tax reform ever undertaken in the history of independent India. Further, a reform of this magnitude may take time to settle and the legislative process would entail frequent amendment in the law, procedures and tax rates. This would require businesses to continuously adjust to the additional requirements thrown up by such amendments.
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