What does GST mean for my business?

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LI Ping HR Director / BHS Corrugated Machinery(Shanghai) Co.Ltd

Strong support in recruitment
M+V is very professional in India HR market. They were able to provide us with strong support in our recruitment. We are satisfied with their service.

Falk Tzchichholz Sales Manager Export / Kjellberg Vertrieb GmbH

Incubation solution
With the incubation solution from Maier + Vidorno , we successfully placed our products in the Indian market and established valuable product market presence, which we can now build on further with our subsidiary

Andreas Dauerbock Quality Assurance / Voestalpine Grobblech GmbH

BIS registration project
The BIS registration project went smooth and efficient. We are very satisfied with the way the documentation, communication and inspection on-site was handled from the Maier+ Vidorno Team. We are happy to recommend working with M+V in India – with the expert’s advice you will need.

Rajesh Nath Managing Director / VDMA India Services Pvt Ltd German Engineering Association

Competent Partner
India has great investment potential for foreign companies if you manage the highly complex business environment professionally. Our experience shows – Maier+Vidorno is a competent partner to efficiently set up and run business.

Bjoern Becker Export Sales / Jumo GmbH & Co KG

Market Presence and Profitability
The cooperation of JUMO and Maier+Vidorno is a success story in India since 2008. Our sales, market presence and profitability in India shows constant growth. M+V knows about the challenges foreign companies face while doing business in India – and provides hands-on solutions.

Rene Pluss CFO, Member of the Board / Regent Beleuchtungskorper AG

Business Diagnostic and Implement Improvement
Maier+Vidorno understands business challenges in the Indian business environment and provides solutions with the help of its experts. M+V has experience in running business diagnostics and implement improvement and expansion strategies in various industries in India.

    What does GST mean for my business-M+V Altios

    What is the impact of GST on business?

    GST came into effect from July 1st, 2017 and all companies across India had to implement GST and integrate their systems to be GST compliant. It is important to check which of the taxes on the Goods you want to trade or are trading in India falls under list for the GST – OR Sales and Excise Taxes will still be levied on those products. Some goods are not covered by GST, thus as mentioned above, taxes for services will change. Key business impacts were in the areas of:

    • Sourcing: Inter-state buying could prove feasible and may open opportunities to consolidate suppliers and vendors
    • Distribution: Changes in tax system could change in procurement and distribution, network structures and product flows may need reviewing as current arrangements for distribution of your finished goods may not be optimal with the removal of the concept of excise duty on manufacturing
    • Cash flow: The removal of Excise Duty on manufacturing can result in improving cash flow and inventory cost
    • Pricing & profitability: Tax savings resulting from the GST structure will require new pricing of products
    • System changes and transaction management: Many systems and processes will need to change to make the optimal transition to GST – and these will require training for employees, checks to ensure compliance under GST, customer education, and tracking of inventory credit to ensure everything goes smoothly; supply chain reports need to be reviewed and existing open transactions and balances as on the cut-off date need to be migrated out to ensure smooth transition to GST

    M+V Financial Experts manage Accounting & Taxation of many foreign companies in different industries in India. We have also successfully integrated their systems to be GST ready.

    Have you implemented GST successfully in India? If not, let our experts help you in three easy steps with the M+V GST Tool.