Every person wants to know about the GST impact on the economy. Some people think that it will be negative and some say that GST will have a positive effect. According to the sources, there will be a good impact on the economy due to the following: The business cost might be lower Gro...
It has been long pending problem to streamline all the specific types of oblique taxes and put into effect a "single taxation" system. Because the name indicates, the GST could be levied each on items and offerings. GST is a tax that needs to pay on supply of products & offerings. Any...
Before diving deep into the impacts of GST on rental properties, let's get clear on a few other aspects related to it. GST and its effect on buyers, stakeholders, and the costs that went through modifications. One of the most significant cornerstones of the Indian economy is the real estat...
In its 32nd GST Council meeting held on January 10, 2019, the government of India increased the turnover limit for availing composition scheme for goods, and expanded the scope of the scheme to include service providers. The changes will come into effect from April 1, 2019. Below, we disc...
How GST Helps Startups and Small Businesses? Tax credit on purchases A lot of startups in India are a part of the service industry. Prior to GST, they had to collect and pay service tax to the government. Non-utilization of the VAT paid on purchases made for business purposes was one...
CaptainBiz is one of the best billing software in India. It is made keeping in mind the needs of small business owners and works for all kinds of businesses. CaptainBiz software is easy to use and helps you create bills and invoices quickly. You can send invoices over WhatsApp or email....
When doing business in India, your business may need to register for Goods and Services Tax (GST) if your annual turnover meets the threshold limits.
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The Goods and Services Tax Act was passed by Parliament on March 29, 2017, and came into effect on July 1, 2017. This pivotal reform marked a significant shift in India’s tax landscape, intending to reduce the tax burden on businesses and consumers while promoting a unified market across ...
it will be unfair for the respective party. The TCS can play a major disadvantage in case of cash on delivery products being rejected at a later stage. The cash flow cycle of the operator may have an adverse effect on its operations. If we talk about the discounts offered by these operat...