Table of Contents In our last article “ 5 ways to save tax for sole proprietor” we had seen some basic things how a sole proprietor can save tax and grow his business. In this article we will see in detail what are other tax saving tools for small business class which will also help […]
Tax planning tools for Sole Proprietor Read More »
Table of Contents Introduction of GST With the introduction of GST, it has become extremely important for taxpayers to comply with the new laws and regulations and adapt themselves with new business environment. Complexity in GST have increased quite a lot with day-to-day amendments, circulars & notification and therefore it is important for the taxpayers
GST Reconciliation Read More »
Table of Contents Introduction GST is a path breaking indirect tax reform which was introduced with a vision to bring significant benefits to all the stakeholders. The simplified tax structure has been designed in such a manner that it eradicates cascading of taxes across the entire supply chain, thereby making goods and services more competitive.
How to reduce GST by making use of Input Tax Credit (ITC)? Read More »
INTRODUCTION Goods and Services Tax (GST), a One Nation One Tax concept, is an Indirect Tax that replaced a varied Indirect Taxes in India. On 29th March 2017, The Goods and Service Tax Act was finally passed. The Act was enforced and was implemented on July 1st, 2017. The Goods & Services Tax Law in
365 days of GST: A succinct on the indirect tax journey Read More »
VALUATION RULES In simple words, Goods and Service Tax that will be charged on the value of supply made is known as Valuation of Supply under GST. The rules will determine the charging value for GST. The rules are hosted on CBEC’s portal. To make it easier to understand, we have explained the rules or
GST Rules – Valuation and other rules Read More »
COMPOSITION RULES Composition Scheme Rules encapsulates the procedural compliance w.r.t the intimation for Composition Scheme; the effective date for Composition Levy; Conditions and Restrictions on the levy; and Validity of levy and Rate of Tax. A Small businessman who pay taxes and have an aggregate turnover of Rs. 50 lakhs in a financial year is
GST Rules – Composition rules Read More »
GST, Seva Kendra is a Government’s Initiative to help India get access to understand GST and easily file GST-Complaints. GST SEVA KENDRA: CBEC initiated the GST Seva Kendra in the year 2017, February. GST Seva Kendra is one such facilitation center that tends to the needs of businesses, taxpayers and even those who are considering
GST SEVA KENDRA: A GUIDE TO REGISTERING GST – COMPLAINTS Read More »
Goods and Services Tax, also known as GST is a tax imposed on value added goods and services that are used as domestic consumption. The main aim of GST was to create single market in India by replacing multiple tax collection system. It came into force on 1st July 2017. It is the multi-stage, comprehensive and
Taxable person liable for GST Registration Read More »
The history of tax reforms in India dates back to 1985, when the then government had announced the Long Term Fiscal Policy. The MODVAT laws – which were the indirect tax laws we were following till 2017 – were introduced in 1986. And then, almost thirty one years later, in 2017, the GST (Goods and
GST: Why do we need this new tax reform? Read More »
GST, a one-tax system that was introduced in the last year, was a complex tax system that was understood by few. The previous articles have made it easier to breakdown the GST into simpler terms. One of the fundamental features of GST is Input Tax Credit. There is a seamless flow of input credit across
Input Tax Credit: Everything you need to know Read More »
GST, One Nation One Tax system created a Taxation history on July 1st, 2017. Albeit making Businessmen to stop evading taxes, post – GST era has created inconvenience for them.
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