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GST

Sneak Peek into the World of GST

We all have heard about it, we all have seen it on our bills/invoice copies. Some of us may have even gone into long hours of discussions/arguments with colleagues/friends/relatives over tea & coffee breaks about it. It is not just panels of experts, economists, politicians and business men who mulled …

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The Hits & Misses of Goods & Services Tax (GST)

Hailed as one of the biggest tax reforms that Indian economy could have possibly seen in one generation of a lifetime – introduction of GST has received mixed reactions from different portfolios of business. If you have missed the media coverage all through the years 2017 & 2018 – bisecting …

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Council Raises GST Bar – Relief to Small Business

The government has proposed several amendments to the GST Law to make it more business friendly and allow tax-credits that will lower the burden. Several genuine transactions which were not eligible for Input Tax Credit (ITC) will now be eligible. The goods and Service Tax (GST) Council approved a streak …

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Did You Know Advance Received is Taxable under GST?

Did You Know Advance Received is Taxable under GST?

Taxable under GST Getting advance for a request is a typical business event. Providers as a rule approach clients to pay progress for a request as it fills in as a guarantee to not scratch off the request. For people enlisted under Excise and VAT, propels got were irrelevant from …

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All You Need To Know About Professional Tax

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Professional Tax is a tax which is levied by means of the state on the income earned via profession, exchange calling or employment. This tax is levied cantered on slab charges depending on the sales of the man or woman. This slab cost is decided by the state executive; therefore, …

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How New Taxation System of GST Works

How New Taxation System of GST Works

How GST Works ? GST is a consumption based tax levied on sale, manufacture and consumption on goods & services at a national level. This tax will be substitute for all indirect tax levied by state and central government. Exports and direct tax like income tax, corporate tax and capital …

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What is the e-way Bill under GST

What is the e-way Bill under GST

WHAT  IS THE eWAY BILL UNDER GST E-Way bill stands for Electronic Way Bill. It is usually a unique bill number generated for the specific consignment involving the movement of goods. In GST, A Registered Dealer who intends to transports Goods exceeding  Rs.50000 or more should generate E-way bill. Procedure …

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What happens for Non Compliance of GST

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 Who needs GST Registration Already registered dealer – Every Manufacturer or a Service provider or a dealer registered under Central Excise Act or under Service tax law or State Vat law will get automatic Pan based registration number without fresh application. New Dealer – Dealers crossing the specified threshold limit …

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