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The government along with the Central Board of Excise and Customs (CBEC) has pressurized for wrapping up IT training of the authority officials in order to align with 1st July roll out of goods and services tax. The previous week, the union finance minister Arun Jaitley mentioned that a minor percentage of around 40 percent tax officers has been trained under the IT training initiative for the operations of GST portal which is a source from the GST network.
The SME (Micro, Small and Medium Enterprises) sector of India is going through a major growth phase and is also considered as a significant leader in the expansion of the economy for many years. And by the statistics provided by the SME Chamber of India, the SME industry is a major contributor with almost 45 percent in the industrial output and making 40 percent of the exports.
Voluntary registration is self registration by the dealers in order to get listed within the GST framework. It is applicable for those who are not within the parameters of registration and are not required to register in the GST. Upcoming GST will be requiring registrations to be strict and complied with the rules and regulations and has also declared that the business units having a turnover less than 20 lakh (10 lakh for NE states) can get away with the GST registrations.
Goods and service tax is approaching towards its scheduled deadline and is in the headlines of every news and publishing. While there are various queries and doubts regarding the information and rules regulation, there are general FAQ’s which might solve the questions of public in a easy and simple manner.
The goods and services tax will be coming with a lot of compliance and it must adhere to those rules and regulation must not be broken in any case to avoid any legal or operational loss proceedings.
GST composition scheme was implemented under the respective State VAT Laws with conditions applied on eligibility for the scheme accordingly. GST composition scheme assures greater compliance without the requirement of maintaining records. This system is missing in Service Tax laws. Latest Update 13th October 2022 09th July 2022 09th May 2022 GST Software Demo for […]
Now the GST mandates all the goods lost, stolen and gifted to be maintained under the new taxation regime coming from July 1 most probably.
SAG Infotech is offering a 10% commision to the reseller partner of Gen GST Software on each new deal.
The finance ministry is taking the GST matter to the general public for the suggestion and advice row as the ministry have put a set of 8 rules in the public domain, which will be applied to the roll out of goods and service tax in India starting July 1. The government is also seeking comments from the industries in concern on the newly included 4 set of laws i.e. GST Composition, GST Valuation, GST Transition and GST ITC. The rules got passed with some approximation at the meeting of GST council on previously gone March 31.
