- GST transformed Indian tax compliance from periodic filing to a continuous data integrity and operational challenge, especially due to digitalization and automated government scrutiny.
- The GST framework is destination-based, with revenue accruing to the state of consumption, enforced through a dual GST model (CGST, SGST, IGST), impacting supply chain and tax planning for multi-state enterprises.
- Accurate determination of “Place of Supply” is critical, as errors can lead to cash flow issues and operational disruptions.
- ERP systems must be configured to handle complex GST rules, including the strict order of input tax credit utilization, which can create working capital and credit accumulation challenges for businesses.
Source: taxilla.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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