GST is a Booster or twister for IT Industry: An Impact Analysis

Abstract

GST is a tax system that will absorb all oblique taxes of states and governments and unified financial system right into a seamless country wide marketto remove theheadaches of the current indirect tax system and assist in India’s socioeconomic prosperity. The paper is focused on impact of GST on the IT sector.This paper discusses about who won and who lost in the IT sector after GST implementation, the advantages and disadvantages of having GST in IT sector and the challenges faced in properly implementing it.This paper discusses about HOW the big players of IT sector in India; Google, Apple, Facebook, Amazon, Microsoft, Infosys etc. were impacted by GST. Also, impact of GST on IT+Cab Service industry like Ola and Uber is also discussed. E-Commerce company will have to deduct just 1 % TCS before payment to those who sell goods on their platform from 1^st October 2018.