The Knowledge to Decide

India’s government hopes that the Goods and Services Tax (GST) will be a game changing reform for the Indian economy, creating a common Indian market and reducing confusing multiple taxes . It is forecasted to raise India’s GDP growth rate by over one percentage point . Will the GST really live up to these expectations? Demystifying the GST bill Hailed as one of the biggest taxation reforms in India, the Indian GST is a comprehensive indirect tax structure, to be levied at all points in the supply chain – manufacturing and sale of goods and services at a national level. At present, India is home to multiple taxes separately managed by Central and State governments, such as the Central Excise duty and Custom duties. Moreover, Value-added Tax (VAT), entry tax, luxury tax and entertainment tax come under the State level. Once the GST is implemented, all these taxes will come under a single tax structure, leading to a common market with the removal of fiscal barriers betwee

On 15 June, Spire and Yamada Business Consulting (YBC) jointly held a seminar at The Japanese Association in Singapore to give insights on emerging trends for India’s economy. The seminar aimed to raise understanding of market opportunities in light of events such as the roll-out of GST in India and President Donald Trump’s victory in the U.S elections. Yasuyuki (Luke) Kita, General Manager at Yamada Business Consulting Singapore, addressed the session to discuss current business trends in India in light of developments such as Trump’s victory in the U.S. election. Kita-san highlighted the impact on India’s economy of the recent Rupee demonetization of high-value currency notes, the introduction of a single Goods and Services Tax (GST) along with the Make In India initiative launched by the government to attract more investors. He also highlighted the Digital India Program, which aims to transform the nation into a digitally empowered society, nurturing startups and c