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The automobile Industry is very hopeful with the GST regime as the government is very cautious particularly for this sector. The industry of automobiles is tremendously big which tackles the manufacturing of a very large chunk of cars and bikes every year.
No result found! Clear search 1. Overview of Goods and Services Tax (GST) 1. What is Goods and Services Tax(GST)? It is a destination-based tax on the consumption of goods and services. It is proposed to be levied at all stages right from manufacture up to final consumption with credit of taxes paid at previous […]
India’s web of telecom industries is world’s second largest wireless market, which includes over a billion of active users. The scales shown by them shows their efforts to become one of the biggest success stories of the country. Work done by these firms literally have revolutionized the lives
GST and VAT are both counter approach taxation system by the government to held valuation of goods and services across the nation. Talking about the older tax system, i.e. value added tax it was the earlier method of applying taxes on the general public while the goods and services tax is held to change this course of action towards the consumers.
Registration Returns/Statement Challan Refund Forms (Centre) Refund Forms (State) Invoice Format REGISTRATION Sr.No Form Description 1. REG-01 Application for Registration u/s 19(1) GST Act, 20 2. REG-02 Acknowledgement 3. REG-03 Notice for Seeking Additional Information relating to Registration / Amendments / Cancellation 4. REG-04 Application for filing clarification Registration / Amendment / Cancellation / Revocation […]
Here in India, the maximum population is middle class and lower middle class where people either belong to service class or they depend on agriculture for their living. In this scenario, the most important question is what will be the impact of GST on a common man or a middle-class family. There are lots of question in the mind of a common man in these days such as : Is there anything new for him or it’s like an old material in a new package? Is there any tax refile for him in new tax provisions or it will increase the prices of goods and services for him?
The Goods and Services Tax Bill after being passed in both the houses of parliament officially known as The Constitution (One Hundred and Twenty-Second Amendment) Bill, 2014 is implemented from 1 April 2017. In the Indirect Tax Law system, there were many taxes levied like Central Excise duty, Service tax, Countervailing duty and Central Sales tax […]
In present scenario there are different types of taxes levied like service tax, VAT, Excise etc. In GST regime there will be a single rate of tax. The tax will be charged on value addition only. This will lead to lower down the cost of products and services. After the introduction of GST law, the customer will be able to know that what is the actual tax he is paying for the product or services.
In order to engage with the stakeholders and invite comments from the public at large, it has been decided to make available the draft Business Processes of GST.
