It has been more than nine months since the GST was launched in India, but businesses it seems are still finding it difficult to get their head around India’s new indirect tax regime.
Powerd By SAG INFOTECH
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It has been more than nine months since the GST was launched in India, but businesses it seems are still finding it difficult to get their head around India’s new indirect tax regime.
Gen GST, a GST billing and e-filing software by SAG Infotech, now integrates e-way bill, an easy and fast solution for generation e-way bills for transports in India.
GST was a complete overhaul of the existing taxation system in India. Powered by the GSTN Network, it was India’s first big step towards a true digital economy.
In a good gesture to the print and electronic media, the Jammu and Kashmir government announced that it would be paying the goods and services tax applicable to the media and advertisement of the state government itself.
Input Tax Credit is the lifeline of GST Revenue generation as well as ensures the smooth business functioning of private business firms and taxpayers.
There are a lot of business opportunities for the logistics startups in the GST e-way bill based setup. As everyone knows that the first launch of E-way bill was not a smooth one. It was marred by GSTN traffic overload issues.
During the meeting held at the central GST departmental commissioner, Ludhiana, the traders have been informed that as it is compulsory to generate e-way bill before leaving the state for other states to transfer the goods.
GST E-way bill has been implemented from April 1st, 2018 and more than 11.18 lakh taxpayers registered through the online e-way bill portal till now.
The 21st century India has witnessed the rise of the middle class and consumerism in India. From being a mixed economy state and guilty of practising crony capitalism for over five decades, the new India is finally emerging from the shadows of the past.