GST — is a comprehensive tax levy on manufacture, sale and consumption of goods and services at a national level.
The implementation of GST will lead to the abolition of other taxes such as octroi, Central Sales Tax, State-level sales tax, entry tax, stamp duty, telecom license fees, turnover tax, tax on consumption or sale of electricity, taxes on transportation of goods and services, et cetera, thus avoiding multiple layers of taxationâ€‹ that currently exist in India.
This would have a major impact on the product given that a design change is warranted in the taxation structure.
Components of GST:
|Component||Levied by||Applicable on|
|Central GST (CGST)||Centre||Intra-state supply of goods or services in India.|
|State GST (SGST)||States||Intra-state supply of goods or services in India.|
|Integrated GST (IGST)||Centre||Inter-state supply of goods or services, Exports and Imports.|
Goods outside Gamut of GST:
Our team of Chartered Accountants, Management Accountants and ERP Consultants prepared an offer for Indian GST enablement services under different packages. Some of the areas where we provide services for GST compliance are as follows:
We recommend that you contact your Microsoft Dynamics Partner before installing service packs or hotfixes. It is important to verify that your environment is compatible with the service pack(s), hotfix(es), or download(s) being installed. A service pack, hotfix, or download may cause interoperability issues with customizations, and third-party products that work with your Microsoft Dynamics solutions.