We are one of the Best GST Consultants in Bangalore. We offer Goods & Services Tax, Customs, and Legacy Indirect Tax consultant and Foreign Trade Policy (FTP).

In 2017, a unified Goods & Services Tax (GST) law was introduced by merging seventeen different Indirect taxes and cess at the federal and state levels. GST has been hailed as one of the most significant and path breaking tax and economic reforms by the Government of India since independence. It has helped in reducing the number of taxes, making India single market, streamlining of inter-state trade by removing check posts and availability of credits of taxes paid on inter-state trade. Further, the e-invoicing system presently in force will eventually lead to complete automation of GST compliances.

Under the Customs law, Basic Customs Duty and Social Welfare Surcharge is a cost, while the additional duties in the form of Integrated GST & GST Compensation Cess are available as a credit for importers. Further, there are protective duties and anti-dumping duties in few cases. Export duty is applicable on very few products. Generally, exports are zero-rated and refunds of input taxes/duties are available on exports.

The Foreign Trade Policy (‘FTP’) is a five-year policy for cross border trade and closely linked with the GST & Customs laws in India. Its principal objective is to provide various indirect tax incentives to exporters in order to augment the foreign exchange reserves of the country. It also has the objective of increasing India’s share in global trade.

We are one of the Best GST Consultants in Bangalore. We offer Goods & Services Tax, Customs, and Legacy Indirect Tax consultant and Foreign Trade Policy (FTP).