Tag Archives: GST

Ms. Rakshitha gets her Board exam results, with a score of 24 marks in Physics. The whole family and the teachers were shell-shocked to see the marks. Based on her past performance and her expectation, she should have got at least, if not more, 85% marks. She applied for revaluation …

This is the last part of the Budget series related to Taxation, Company Law and Marco economic analysis. Only a few points are covered here. Any points missed here will be covered in another article in the coming days. Goods and Service Tax (GST) Point # 1 GST on supply …

A budget is a statement showing the projected income and estimated expenditure for a specified period. The one our Finance Minister is presenting on 1st February is the Budget of the Union Government for the year starting on 1st April 2021 to 31st March 2022. What can we expect from …

‘e-way bill’ should be used for movement of 41 notified commodities. Important commodities are – Arecanut, automobile parts, bitumen, Cardamom, Cashew, Cement, Cement – Concrete Blocks , Chemicals of all kinds , dry fruits, edible oils, electrical goods, electronic goods, furniture , granite/marble blocks, hardware, iron& steel , tobacco products …

Gifts up to a value of Rs 50,000/- per year by an employer to his employee are outside the ambit of GST. However, gifts of value more than Rs 50,000/- made without consideration are subject to GST, when made in the course or furtherance of business. It is being reported …

1. Every registered person for movement of goods in relation to a supply or for reasons other than supply or due to inward supply from outside the State or inward supply from un-registered persons, whose value exceeds fifty thousand rupees shall enter the details of such goods in the format, …

You are all aware that Goods and Services Tax law is being implemented all over the country. The Karnataka commercial taxes department has made all preparations to facilitate hassle-free and smooth transition to GST for all dealers registered under VAT, Entertainment Tax and Luxuries Tax in the State. The duration …

Government has launched GST Portal (i.e., www.gst.gov.in) for the GST enrolment or registration of existing taxpayers of VAT, Service Tax and Excise for smooth transition to GST. Existing dealers have to collect provisional ID from tax officer, update their profile information and upload the required documents on the GST portal. …

The Goods and Services Tax (GST) implementation is around the corner in India. It is expected to be applicable from 1st April 2017. In this connection, a series of articles will be posted here. Hope this helps. Which of the existing taxes are proposed to be subsumed under GST? The …

Question 1.What is GST? How does it work? Answer: GST is one indirect tax for the whole nation, which will make India one unified common market. GST is a single tax on the supply of goods and services, right from the manufacturer to the consumer. Credits of input taxes paid …