GST In The Publishing Industry

With the advent of modern day digitization, information is available around the world at the click of a button. Gone are the days when publishers had to bury themselves into extensive paper usage for thriving the competition. Knowledge is now afloat and almost every one with an electronic device can have access to it. However, the prevailing internet trend has somehow adversely affected the publishing and printing industry. The demand for e-books has been flourishing while the publishing industry is inadequately surviving.

GST

Goods and Service Tax (hereinafter referred to as 'GST') was brought into effect from July 1, 2017. GST is a comprehensive, multi-stage, destination based tax that is applied on each value additive stage of finishing the product. Under the GST regime tax is levied at every point of sale. GST has removed the cascading tax effect which was previously pertinent.