GST is a reality Now
Constitution Amendment Bill for Goods and Services Tax (GST) has been passed in the Parliament (Rajya Sabha on 3 August 2016 and
Lok Sabha on 8 August 2016). The Government of India is committed to replace all the indirect taxes levied on goods and services by
the Centre and States and implement GST in 2017.
Understand what we are getting into !
Let’s start by understanding a bit more on what GST is all about.
GST is an indirect tax reform to remove tax barriers between states
and create a single market. Amalgamates a large number of Central and State taxes into a single tax, mitigating the cascading tax
impact or double taxation in a major way and pave the way for a common national market. Consumer point , the biggest advantage
would be in terms of a reduction in the overall tax burden on goods, currently around 25%-30%.
GST and SAP: Is your business ready to handle the change?
To adopt the GST, You need to migrate the tax procedure from TAXINJ to TAXINN as SAP will only support GST with TAXINN.
Plan to handle this change and initiate now !
Why migrate Now? Value Time when you still have it
The tax procedure change is a mini-project advisable to complete this separately outside of actual GST migration.
Migration of the tax
procedure at that time will add to the complexity, project duration and efforts for the project. Adoption of this technical and cultural
change can be disruptive for your teams.
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