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Free supplies of goods and services have been frequently used by the businesses to promote their products in the market. The situation arises when the receiver/ buyer tries to obtain good quality material at a bargained price in the market.
GST is an added advantage to the tax compliance of the nation with its dynamic applicability in the current environment of the fast-paced economy.
The goods and services tax has finally ended up the online party for the smartphone customers. The gap between the online and retail prices of the smartphone is now reduced to a considerable level with still lesser price marks in comparison.
GST is one indirect tax for the whole nation which makes India one unified common market. GST is a single tax on the supply of goods and services, credit of input tax paid at each stage will be available in the subsequent stage of value addition, which makes GST essentially a tax only on value addition at each stage. The final consumer will bear only the GST charged by the last dealer in the supply chain, with set-off benefits at all the previous stages.
SAG Infotech provides the best GST return filing, e way bill and billing software and is available for a free download. The Gen GST software being in-house developed by SAG Infotech which is a panacea for all the complex GST filing operations
As GST is almost ready to implement from April 2017, every organization has started to make future strategies. Currently, Indian drugs are exported to more than 200 countries in the world. India is the largest provider of Generic drugs medicines globally and expected to expand further experiencing a boom in medical industry which will help in generating additional returns for the Industry.
To promote exports from India, Government has provided various exemptions and incentives to exporters both at the central and state level and provide specific support to some industries and markets where exports would be of special value.
GST migration is nothing but transfer of existing client data from older system to the new system (GST system). The objective is to help existing clients to do business without any hassle, sort out inconsistencies and get ready for smooth transition towards the implementation on the date April 1, 2017. This is going to be a challenging task and will give us a clear picture of where are all the things stand.
One of the boldest movement taken by Government of India in the history of Indian economy to ban high value currency notes of Rs.1000 and Rs.500 with effect from November 8, 2016 midnight. This scheme has received mixed reaction till now as some of the sections are telling that it can cause hardship for common people while some sections reacted to this decision with overwhelming support. This scheme is going to impact the businesses, common people, and financial institutions along with multi-diverse industrial background of India.