Other Briefings
Understanding India’s New HSN Code Guidebook 2025
India’s HSN Code Guidebook (2025) introduces a unified product classification framework under GST 2.0 and Customs, mapping approximately 12,000 HSN codes to align with internal customs standards and enhance trade compliance.
Depreciation Rules and Asset Management under Indian GAAP: An Explainer
Gain insights into India’s depreciation framework under Indian Accounting Standard (AS) 16, AS 10, and Schedule II of the Companies Act, 2013, to ensure accurate asset valuation and compliance.
GST on Contract Employee Remuneration: Applicability, Rates, ITC, and Compliance
Understand how India’s goods and services tax (GST) is applicable to contract employees. Learn the difference between salaries, contract staffing, and manpower supply services, applicable tax rates, ITC eligibility, and key compliance considerations for businesses and investors.
GST 2.0: How India’s New HSN and SAC Code Structure Transforms Tax Compliance for Businesses
India’s GST 2.0 ushers in a major tax overhaul, revising Harmonized System of Nomenclature (HSN) and Service Accounting Codes (SAC) codes to simplify compliance. Businesses must realign systems, classifications, and input tax credit (ITC) claims for efficiency.
What is GST Migration and Why it Matters for Businesses?
GST 2.0 marks a major upgrade in India’s indirect tax system, simplifying registration, invoicing, and ITC reconciliation through digital integration. Foreign businesses and multi-state operators should migrate promptly to ensure compliance and safeguard credits.
Why Are Automobiles in India Becoming Cheaper After the GST Rates Change?
Car prices in India are dropping across the board—from budget hatchbacks to high-end SUVs—owing to the GST 2.0 overhaul. With the compensation cess scrapped and tax slabs streamlined, automakers are passing on the benefits to consumers, triggering fresh demand.
GST Rate Rationalization 2025: Why Tamil Nadu is a Top Investment Destination
The 2025 GST rationalization positions Tamil Nadu at a competitive advantage across textiles, food processing, automobiles, and renewable energy. By lowering consumer prices and improving MSME profitability, the latest tax reform enhances the state’s appeal as a leading investment hub.
Input Tax Credit Treatment Under GST Rate Rationalization
India’s revised GST regime will continue with the existing Input Tax Credit (ITC) while limiting its use in certain sectors. We explain how businesses can navigate these changes through credit blocking or reversal where required, automated Rule 42/43 adjustments, and contract realignment to maintain compliance.
