GST Impact: Exports on a downhill
Nov. 23, 2017
As highlighted in our previous articles, export sector has been one of the worst hit by the GST. Reason behind this is procedural flaws in export mechanism. In a bid to revive the ailing export, commerce ministry has come up with series of steps..
Major relief to Kashmiri traders
Sep. 27, 2017
In our previous articles, we explained how small sector handicraft artisans and manufacturers are bearing the brunt of GST. But decisions taken by GST council for Kashmiri traders shows government is taking steps towards solving problems of small business traders who are engaged in traditional jobs.
How to verify GSTIN
Sep. 27, 2017
We all know GST is technologically driven. From migration, registrations, returns and form filing, everything under GST has to be done online. In order to keep things systematic, a unique code has been allocated to very taxpayer to facilitate better record keeping and tracking information. This code is GSTIN.
Pure Agent in GST
Sep. 27, 2017
Do you remember the famous movie Munnabhai MBBS, where Sanjay Dutt plays Munna, the lead character and Arshad Warsi plays Circuit, his right arm man. A pure agent is to his client, what circuit was to Munna. Still don’t get it? Read on
Credit Note under GST
Sep. 26, 2017
Many a times, when a supplier supplies goods or services, the receiver is not happy with the product or service that he receives. He may find product defective, quality poor or service deficient. So he decides to return the product, or asks for a refund. In such a case, what should be the accounting policy?
In GST, no one can get rich at cost of someone else
Sep. 26, 2017
Somewhere in some obituary, I read ... "Honesty is not only the best policy, it is rare enough nowadays to make you pleasantly conspicuous." So... true... this is. And clearly, enough... through the doctrine of "unjust enrichment" ... given in section 54(5) of the CGST Act, our assiduous government... has rightfully sown the seed of honesty into the new GST law...
GST makes Loan even dearer
Sep. 26, 2017
Generally, people take loan when they don’t have enough cash for the intended use. But what’s the benefit if more cash is flowing out of your packet while availing loans? GST was aimed at benefitting the common man, but instead it will force you to shell out more money when you are already in distress.
GST Impact on Tour and Travel Agent
Sep. 26, 2017
With passage of time and increase in prosperity, most people recognise the importance of work life balance. Nowadays, people take vacations sooner than ever, be it local or foreign.. everyone loves to explore. Such a trend has given rise to tour and travel operators. People who make sure you enjoy without any problem. Let us see what GST has for these agents.
GSP – GST Suvidha Provider
Sep. 25, 2017
GSP’s are entities that have been authorised by GSTN to develop a platform to enable the taxpayer to do the GST compliances. In simple words, they are GST enablers. Taxpayers can interact with GST portal through GSP’s. GSP is the link between GSTN and taxpayer. Since they play such an important function, let us read about them.
Would you spend 2808 or 2165 for your Car repair?
Sep. 25, 2017
With the introduction of GST, a strange phenomenon has come into play, that of bills without GST component and bills with GST. I know many of you would be aware of what I am talking about, and some might not be knowing... but anyways.. read on...