The Goods and Services Tax (GST) came in 2017 as a consumer based unified system for indirect taxes all over India. Varying slab rates were set for different goods and services which may have saved chunks of taxpayers’ income since GST was launched. A source in the finance ministry has revealed that according to an … Read moreSaving on Household Expenditure after GST
The Goods and Services Tax (GST) was introduced as a unification of indirect taxes. It was mainly divided into Central (CGST), State (SGST), and Integrated (IGST) GST. CGST and SGST mainly apply to supplies within a state, whereas IGST is applied on interstate and international supplies. CGST is a representation of tax levied by the … Read moreCross-Utilization of Credits and Fund Transfer
The compliances for Goods and Services Tax (GST) are filled with abbreviations and terms that make up for its nomenclature. Usually these terms are used without their explanations. Thus, to completely comply with GST, it becomes important to have adequate knowledge of its nomenclature. Full-forms The most commonly used abbreviations are given below with their … Read moreGST Nomenclature and Full-forms of its Abbreviations
Touted as the second largest employer in the country (after agriculture), the real estate sector accounts for nearly five percent of India’s GDP (gross domestic product), projecting a potential growth of 30 percent over the next decade. Supported by a thriving corporate environment, an increasing demand for office and commercial space, a burgeoning middle-class keen … Read moreBooked an under-construction house? Read on to find out if GST will help you pinch pennies or pocket them!
Though, the GST universally applies to all business entities in India, however there are certain bodies and individuals, which enjoy exemption from complying with the Goods and Services Tax. GST Unique Identification Number (UIN) is a special category of GST registration, given to foreign diplomatic missions and agencies, which are not liable to pay any … Read moreGST Unique Identification Number (UIN) – Facts You Should Know