PCB Apps has successfully implemented a GST Roll-Out at Berry Global, India Vadodara and Bengaluru locations effective July 03, 2017. With our team’s dedication and commitment, we achieved this milestone despite several challenges. Some of the challenges our team faced included lack of clarity on the new GST tax structure from the Government of India initially, frequent Electronic Software Updates (ESU) and very tight timelines with the definite Go-Live date.
About GST Implementations:
India’s biggest tax reform is now a reality. A comprehensive dual Goods and Services Tax (GST) has replaced the complex multiple indirect tax structure from July 01, 2017. GST will be payable at the final point of consumption on the price of goods and services; termed as a “transaction value.” This transaction value or actual paid price, while buying the good or service, will include packing cost, commission, and all other expenses incurred for their sales. To start with, the GST Council has finalized four tax rates slabs of 5%, 12%, 18% and 28% for goods and services. Education, healthcare, milk products and alcohol will continue to be exempted from tax in the upcoming GST regime. Similarly, gold and rough diamonds do not fall under the current rate slabs and will be taxed at 3% and 0.25% respectively. GST is absolutely going to help the economic growth of the country by efficient tax collection.