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Hey guys, you already know that Parliament has passed the GST law. Rules relating to GST has also been released by the government. These rules provide guidelines on issues such how the invoice should be issued, how the input tax credit on goods can be taken. You being a businessman may purchase various goods for further production. Do you know the tax that you pay on these inputs will be allowed to set off against the output duty ?Here in detail ...
Read moreHey guys, Do you know India is the second biggest consumer of gold across the globe ? I bet you know that. Attention ladies who like the yellow metal. This may be the article of your choice. If you want to buy a lot of gold do it now, otherwise post july buying the same amount of gold will burn a larger hole in your pocket. You may be wondering why are we saying this. Yes, it is true trust us. Read our below article if you really want to know why ...
Read moreHey guys, the GST council has already released the GST rules for general public's consideration. It means that the government expects that people will take a look at these rules and can reply with suggestions/advices. However, already valuation rules released recently have created ripples in the market. Want to know what it is, read our complete article and you will understand.
Read moreHey guys, Are you a foodie? Everybody likes to eat delicious food every now and then. Now, when you eat in a restaurant such as Mcdonalds you see the bill and notice awful lot of tax is charged. You may be wondering what is the significance of the above talks. In this article, we will closely discuss and forsee how GST will affect the restaurant and food business. After GST the food that you eat out any become cheaper.
Read moreAre you an importer ? If you are then this article is for you. Here, we will try our best to clear all your doubts on how GST will influence you and business. First understand, what is the meaning of imports. Imports mean bringing into Indian territory from a place outside India. in the present tax regime various taxes are charged in case of import of goods such as countervailing duty (CVD), Special additional duty (SAD), Basic custom duty (BCD) ...
Read moreHey guys, you already know GST is soon going to implemented and anytime soon after that you will have to register yourself if you are a businessman. So are you ready to register? But wait do you know how and where to register and how many registrations you will have to take? The one thing for which GST is criticised is the compliance burden for returns and registrations. This may not burn a hole in the pocket of the taxable person.
Read moreHey there, do you wonder what will be the fate of various service providers after introduction of GST in July 17. We mean these days you often hear or read, that this service is going to be cheaper and that service is going to cost more. In this article, we shall discuss about one of the most essential services that you require on your day to day basis. Yes, we will discuss how GST will affect education and healthcare.
Read moreHey guys, How are you ? We are back with yet another interesting article on GST. Do you plan to exchange your existing mobile to buy a new one at a discounted rate? Do it soon, because once GST is implemented, chances are that you may have to pay more taxes on exchange offers. For ex- Samsung introduces an offer for galaxy s 7. In which it says bring any of your old samsung phone and get a discount of Rs. 4,000 on the new phone. Nowadays, almost ...
Read moreHey guys, as we all know all the four GST bills have been tabled in the parliament. As expected the roll out date from which GST will be implemented also seems to be met. If everything falls in the right place, then companies may have to comply with GST from 1st of july 2017. Now, suppose, you are a bussinesman and you will have to comply with GST. Are you up for it ? Have you thought How will you manage the returns and accounting.
Read moreHey professionals as we know the expected rollout date is impending upon us. We also know that the Bills have been tabled in loksabha this monday. Today in the morning, i was going through latest updates on GST and my eyes caught some igneous issues that may have an impact on employer - employee relationship and compensation. So , in this write-up i would like to discuss the same and also like to know your views on this, so please oblige.
Read moreHey guys, i think this article is for all the people who are curious about implementation of GST in india. As we already know that GST bills have been tabled in the upper house of the parliament for approval. The expected due date for rolling out the gst bills also seems to be acheived. However, a we are moving each step closer towards the biggest tax reform in india, there would be a lot of questions that would be popping you mind.
Read moreIn the Bill to Ship to model, the billing and shipping of goods are done to two states and entities. In order to avoid the cascading of multiple taxes through the course of the transaction, the first sale will be taxable, and any subsequent sale during the movement of goods is exempt from tax. Today, Bill to one place Ship to another place transactions are common transactions.
Read moreHey knowledge seekers, welcome back to thakurani. You already know that under any tax that is imposed on your business you have to file returns. Dont worry, even if you dont know here we are to explain you in simple english what are returns and why we need to file it. Lets take an example of vat. In a state say delhi, if you are registered under vat you have to file vat returns on a periodical basis. For instance, you have to pay vat and cst ...
Read moreHey guys, greetings for the day. Today lets talk about whether FOC ( Free of cost) supply of services and/or goods by one person to another will be taxable under GST. Free of cost supply means when either goods or services are supplied by one person to another without any consideration. To get a clarity on this matter we will have to interpret GST law.
Read moreIn this article, we will discuss certain points relating to e-commerce operator in GST. So guys lets first understand who is an electronic commerce operator. An Electronic Commerce Operator a person who, directly or indirectly, owns, operates or manages an electronic platform which is engaged in facilitating the supply of any goods and/or services. Also, a person providing any information or any other services incidental to or in connection wit ...
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