The score cards for the collection of GST for September 2017 are out now. The finance ministry in its announcement made on 24th October’17, declared that, about 42.91 lakh tax payees have deposited around Rs. 92,150 crores as GST for Sep’17. It stated “The total revenue of GST paid under different heads (up to October … Read more92000 Crores of GST Collected in September-17
The Goods and Services Tax, 2017 became effective in India from 1st July 2017. The biggest tax reform had apart from other mind boggling questions, raised a yet another and confusing question especially to the retailers that “what would be the impact of GST on MRP in India”. They apprehend that whether the GST will … Read moreImpact of GST on MRP in India
One nation – one tax, the revolutionary and mammoth game changer was always expected to have its share of fluctuations, tantrums and teething issues. Since its inception from the midnight of 30th June’17, it has undergone various amendments in terms of taxation rates, processes and policies by the supreme decision making body of GST – … Read moreA refresh is round the corner for GST Rates
Diwali the most widely celebrated festival in India is approaching within next five days and now us is the time to distribute Diwali gifts but this time the major tax reform i.e. the implementation of the GST has put the businesses in face to face questions like “Whether the input tax credit would be available … Read moreIs ITC Available on Diwali Gifts?
October 10th marked the first 100 days of the GST module – a time filled with all the vibrant promises by the government about GST’s cool effects on one hand and the industry experts debating about the induced complexities, disruptions and uncertainty on the other. Analyzing the after effects of GST on the top five … Read morePerformance Card of first 100 days of GST
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 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
What is GSTR 3B? GST law finally came into existence with effect from July 1st, 2017. However, anticipating the lack of IT infrastructure preparedness and to calm the initial taxpayer anxieties, the union finance minister Mr. Arun Jaitley on June 18th, 2017 announced that the GST return filing requirements have been relaxed for the first … Read moreGSTR 3B Guide