Goods and Services Tax (GST)

The Evolution of Taxation in India

India’s taxation system historically divided tax powers between the Union and the States, particularly for indirect taxes like excise, service tax, sales tax, and VAT. This division led to separate taxes imposed by Central and State departments on sales and service transactions. These taxes were non-deductible against each other and had different rates, compliance requirements, and assessment procedures, causing double taxation and complexities within businesses striving for tax efficiency.

Transition to the Goods and Services Tax (GST)

The introduction of the Goods and Services Tax (GST) in July 2017 marked a significant shift towards a unified tax regime. Although the Indian GST system is complex compared to those in other countries—due to both Union and State governments taxing transactions similarly—it has made most transactions tax-neutral, enabling businesses to concentrate on core operations rather than tax management strategies.

Challenges in the GST Regime

Despite its advantages, the GST system in India faces ongoing challenges that require resolution. These include issues related to transition procedures, handling intangibles, anti-profiteering measures, backward area exemptions and incentives, classification disputes, refund processes, input tax credits, tripartite contracts, transactions in securities, loyalty programs, trade promotion schemes, subvention income, and securitization complexities.

At G&Y, we offer a full spectrum of GST-related services to help businesses navigate this complex tax environment. Our GST services include:

• GST Advisory: Providing strategic advice on optimizing GST positions and ensuring compliance.
• GST Compliance: Assisting with GST returns, compliance reviews, and regulatory adherence.
• GST Transition: Guiding businesses through the GST transition, addressing emerging issues.
• GST Litigation: Representing clients in disputes before various authorities.
• GST Review: Conducting detailed reviews of contracts and supply chains to ensure GST compliance.

Our team of seasoned attorneys is experienced in both the previous indirect tax system and the current GST regime, offering expert handling of all GST-related matters. We also represent clients before the Advance Ruling Authorities to obtain clearances on complex business transactions.

Why Choose us for GST Services?

• In-Depth Expertise: Our team possesses extensive knowledge and experience in the GST framework.
• Comprehensive Solutions: From advisory to litigation, we provide end-to-end GST services tailored to your needs.
• Proven Success: We have a track record of successfully representing clients under both the old and new tax regimes.
• Client-Focused Approach: Our solutions are designed to align with your business objectives and ensure compliance.