Introduction
- Why every IT & software company must understand GST 2.0
- Recent reforms announced by GST Council Press Information Bureau+2ClearTax+2
What’s Changing in GST 2025 / GST 2.0
- Simplification of tax slabs: moving from multiple rates to 5% / 18% / 40% slabs The Indian Express+2Press Information Bureau+2
- Impact on services and goods, timeline of implementation Press Information Bureau+1
- Clarifications from CBIC about transition & social media misunderstanding The Economic Times
GST & IT / Software Services – Key Implications
- Which slab will apply to “IT services” after the reform?
- Input Tax Credit (ITC) rules and restrictions
- Effect on export-oriented software companies / foreign clients
- Compliance burden, audit risk, frequent rate changes
Strategies for IT Firms to Adapt
- Revisit pricing & negotiating contracts
- System upgrades for invoicing, billing & compliance
- Automation and ERP integration for GST accounting
- Tax planning, consulting and periodic review
Case or Example (Hypothetical or Real)
- Show a software company’s cost structure before vs after new GST slabs
- How margins might shift
Challenges & Areas Businesses Must Watch
- Confusion in transitional period
- Mismatches in ITC claims
- Dispute handling & appeals
- Small vs large firms’ ability to adjust
Future Trends in Taxation & IT
- AI / data analytics for tax compliance
- Real-time GST reporting
- Integration of GST data with business intelligence systems
Conclusion
- Prepare early, audit your billing, consult experts
- How Asha WebTech can help IT / software firms with compliance systems