Amongst a plethora of amendments in the last and the 22nd GST Council meeting on 6th October, textile and jewelry sectors must have felt their share of cool breeze. As the jewelry sector witnessed the much needed softened KYC norms the issues of the textile industry [specifically synthetic yarn makers] pertaining to the delayed clearances … Read more26 Jewelry and Textile Stocks to Grow following recent GST Amendments
The Indian economy in the last three months [since the launch of GST from 1st July’17] has seen the most revolutionary and mammoth taxation migration exercise since independence, leading to several challenges, confusions and erroneous actions and decisions – all for the good though and with seemingly fair intentions. The old habits of tax evasion, … Read moreHow does GST Impact your Company’s Working Capital
The tsunami wave of GST was expected to turn the taxation habits and ecosystem, upside down. No wonder, it is giving bumpy rides, from the biggies of the business community to your local merchant. Though, the business community at large is wanting to comply with the GST norms to avoid interests and penalties and be … Read moreAvoid 4 Fatal Mistakes While Filing GST Returns
The new generation taxation system, GST has its own and unique way of measuring and rating the adherability and checking the compliance parameters of tax payers – much like the CIBIL score these days. Unlike the older era of taxation regime, where there was no mechanism to rate and grade the tax payers, the GST … Read moreWhat is a GST Compliance Rating?
The World Bank in its biannual economic update of ‘South Asia Economic Focus’ cited about a dipping GDP for India – from 8.6% in 2015 to 7.0% in 2017. It also suggested, that a true balance of public spending coupled with the private investments could do the trick and bring it on to 7.3% by … Read moreGST complexities and uncertainties hitting the India’s economic momentum
The deadline to file GSTR-01 for the first month of GST, i.e. July’17 ended yesterday, although after being extended twice by the GST Council. A whopping 66%, which amounts to approximately 4.3 million of the eligible 6.5 million tax payers filed their 1st GST return. Government is stretching itself quite a bit and is taking … Read more4.3 Million Tax Payers Filed GST Returns for July’17
With the launch of the e-way bill, the overall transportation of the goods and commodities or specifically the logistics industry have suddenly started moving real fast with the abolition of the intra-state check posts and bureaucratic interference with the inclusion of the RFID [Radio Frequency Identification] or the QRC [Quick Response Code] devices, which make … Read moreAll attempts to keep e-way bill immune to red tapism
A potential glitch in the GST return filing process has caused piling up of hundreds of crores rupees with the government, which actually should be credited to the organizations in respect of their Input Tax Credit. The missing column of carrying forward of ITC [of the pre GST era] in the form GSTR-3B is causing … Read moreMissing ITC Column in GSTR-3B creating panic