Here's what got cheaper and other major announcements 07/10/2017

The GST council today announced major cuts in taxes of various items and announced various measures to support exporters and small businesses, three months after the new taxation system was launched.  "It's almost three months since GST roll out..returns have been filed for first two months as well. So it was a time to deliberate on its effect on various trades...

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Quarterly returns, eWayBill applicability, composition scheme, rate cuts and lots more: All you need to know from GST Council Meeting

Goods and Services Tax Council (GST Council) headed by FM Arun Jaitley met today for 22nd time at Vigyan Bhavan in Delhi. The main agenda of today’s meeting is to rethink on the process of businesses and changes that need to be brought about based upon the learnings of the government and the feedback it has received in the three months since GST launch. In order to...

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How to improve customer relations ?

No matter how much you present good service to your customers, it’s just not enough. There will always be the customers who are not happy with you.  The reasons may be: – Lack of communication with clients – Over promising and non-delivery – Make culturally specific and inappropriate comments – Impossible time frames Sometimes the interactions with the client leave...

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Advantages & Benefits of Private Limited Company Why to Register Private Limited Company

Private Limited Company is the most prevalent and popular type of corporate legal entity in India. Private limited company registration is governed by the Ministry of Corporate Affairs, Companies Act, 2013 and the Companies Incorporation Rules, 2014. To register a private limited company, a minimum of two shareholders and two directors are required. A natural person can...

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10 steps to starting a business

Starting a small business is easy using our step-by-step guides. The 10 steps below will teach you how to start a business, taking you through each of the key stages of the start-up process – from evaluating your business idea and choosing a company name through to designing your business cards, developing a website and, finally, getting ready to launch. KEY TOPICS 1Start-up...

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Tips to file tax under GST

Expert estimates say that only about 50% of the sector is technologically capable of complying with GST rules. Tip 1: Calculate your ITC like your life depends on it And truth be told, it actually does! It is very important for SMEs to understand the legislations around Input Tax Credit (ITC). The availability of ITC could determine the cost of compliance...

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Frequently Asked Questions (FAQs) on Goods and Services Tax (GST)

Question 1.What is GST? How does it work? Answer: GST is one indirect tax for the whole nation, which will make India one unified common market.  GST is a single tax on the supply of goods and services, right from the manufacturer to the consumer. Credits of input taxes paid at each stage will be available in the subsequent stage of value addition, which makes...

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Impact of GST on the economy: things to watch out

The Goods and Services Tax (GST) came into effect on 1st July 2017. This happened after much anticipation and opposition. Now, one month has passed. Many are debating whether GST is delivering what it promised for the economy. It may be too early to measure its positive impacts. Those will kick in over the long run. But there are a few things to watch out for in the short...

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Impact of GST on manufacturers and their distribution networks

The implementation of Goods and Services Tax is India’s most important tax reform. It may well be the most important one since India’s independence. The implementation of GST needed a complete overhaul in business processes. It has changed the manner in which businesses operated. Who are the biggest beneficiaries of GST? The manufacturing sector is sure to benefit. But the...

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