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GST for the Layman by Apeksha Solanki arms you with the fundamentals to make you a smarter, well informed consumer with a better control on your finances.
It has now been two years since GST – a much discussed taxation reform was implemented in India.
At the time of its launch, there were multiple concerns around its impact on small businesses and entrepreneurs. While the government has, since, streamlined the requirements and processes around this historical tax restructuring, those unfamiliar with the new tax regime still have questions as to how it impacts them.
Can one avoid the payment of GST while buying a house?
Is GST to be paid on discounts applied to the MRPs of products?
Can restaurants still charge VAT?
Is GST applicable to a new e-commerce venture?
How does a student encounter GST?
In her book GST for the Layman: How It Impacts Your Daily Life, Apeksha Solanki answers these questions and more similar daily-life encounters to help you understand GST better.
Split into two parts, the first part of the book outlines the basics of GST: how it differs from the previous taxation system, its evolution, structure, and application. It then explains the GST Network, compliance requirements, as well as assessment and audit processes. This is wrapped up with a comparison of pros and cons based on public opinion of the tax reform.
In the second part, the author summarises the impact of GST Law on different areas – small businesses, banking/insurance/financial sectors, real estate, salaried employees, start-ups, students, even household expenses.
The book has an interactive dialogue format, the concepts explained in simple terms with illustrations and examples, making it comprehensible for those without a background in Economics or Finance. The author also includes a few DIY tips to assist new users in registration, fulfilling compliances, and making informed decisions.
As with any law in India, the Government continues to update and revise requirements to the GST Law. The book helpfully directs you to the relevant sources to keep abreast of these changes.
Whether you are building a business, are an entrepreneur, or simply heading out to shop and have a meal, it is important to understand how and where GST is applicable to you. This book arms you with the fundamentals of this tax system to make you a smarter, well informed consumer with a better control on your finances. After all, isn’t a rupee saved a rupee earned?
If you would like to pick up a copy of GST for the Layman: How It Impacts Your Daily Life by Apeksha Solanki, use our affiliate links at Amazon India, and at Amazon US.
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Image source: Andrea Piacquadio on pexels, book cover Amazon
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