Goods and Service Tax is one indirect tax for the entire country on the source of goods and services, right from the producer to the consumer. As GST will affect every part of the commercial aspects of the industry from cash flows, financial reporting, tax accounting & reporting, profitability, pricing, supply chain, ERP, contracts redesigning, IT, marketing etc.
Therefore, one of the biggest challenges for the current industry would be the obligation of the right guidance which can help them sail over GST transitions and guide them about its impact and insinuations.