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reverse charge gst

Reverse charge under GST, mechanism explained

Reverse charge under GST: Reverse charge mechanism under GST is a new phenomenon applied under the laws. Particularly in any Taxation system its the supplier who pays the tax on supply. But there are few cases in which, the receiver becomes liable to pay the tax, i.e., the phenomenon gets reversed and because of it, it…
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Composition dealer to Regular dealer

Composition dealer to Regular dealer: There are many dealers already registered under the current tax structure.  All registered dealers under the current tax structure will be automatically transitioned to GST that is the format and they will be given a provisional registration ID. A change will be from composition dealer to regular dealer too.  After validating all…
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Dealers transition to GST

Dealers transition to GST

Dealers transition to GST: GST is being influencing the Economy of India in many ways. As the days are passing by the date of GST getting closer. There are many ways in which GST will be replacing current taxes. The main of all is VAT, it will be replaced by GST. That will be the plus…
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GST bill

GST bill – accounts to be maintained

GST bill. In any financial terms and reports, Accounts are the primary source of data these are the records  by which the organisation can be accessed. There is a particular format for the law in the country to  maintain these records for a certain period of time. These accounts and records are mainly used for…
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GST

GST : Alter, Cancel, Repeal

GST GST is rolling out on 1st July after all the clarifications and steps taken up by the government. After registering for Goods and Service Tax there can be chances of people to alter their registration, cancel it completely or repeal the cancelled registration. What can be done if all the three cases comes to…
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Goods and Service Tax v/s Current tax structure

Goods and service tax v/s Current tax structure

Goods and service tax v/s Current tax structure: Goods and service tax implementation is just few days ahead and there have been made up with all the formalities for GST bill implementation. Goods and service tax makes a huge difference to Indian taxation which makes a huge difference to the economy. But why is there a…
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GST for services

GST for services- Are you running a service based company?

GST for services GST for services: GST: A like goods, GST for services are also been classified. They are nil,5%, 12%,18%,28%. Here there are many service industries that are been classified and made under one platform, one stage wherein the tax is being allotted based on the category they fit in. The detailed structure of the…
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1% TCS for online players

1% TCS (tax collected at source) for E-Commerce

1% TCS for E-Commerce: The tax payers under GST has lot of advantages which adds to 1% TCS for online players instead of 2%. The leading online payers which are Amazon, Flip-kart, Snap-deal etc are to collect their 1% tax. But firstly let us understand what is E-Commerce. Buying and selling of goods and services, or…
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4 slabs of services under gst regime

4 Slabs of services under GST regime

4 Slabs of services under GST regime: Goods and service tax is just a month far where all the indirect taxes will be merged into one with so many advantages and implications. GST has been so much in talk to make a revolution in India’s economy. let us look to the 4 Slabs of services under…
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Want to know which tax bracket your business lies in?

GST rates in India  Tax bracket your business lies in: The tax for different commodities are finally out which fits in 4 different goods and service tax brackets. As said by the finance minister of India that there would not be any major difference in terms of tax burden to a common man that the…
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