The Goods and Services tax (GST) is perceived as the single biggest indirect tax reform in India and is expected to bring in a simpler tax structure with a seamless credit chain. The ‘one tax, one market’ concept on which GST is based should be a welcome step for online marketplaces. To create clarity in terms of the tax treatment of online marketplace sector transactions, sector-specific provisions need to be introduced in the GST regime.
PwC and IAMAI have put together a concept paper on GST explaining the current status and proposed changes after GST and the opportunities and issues that need to be addressed from the perspective of online marketplaces.
Read the full report here: