Goods and Services Tax

GST Simplified for your Business

1
GST Rates for White Goods
2
When do you have to Pay Tax on Reverse Charge Basis?
3
Want to Register under Composition Scheme in GST? Check your Eligibility
4
Watchout: Payment Patterns may Change after GST
5
Who are Casual and Non-resident Taxable Persons in GST?
6
Beware! After GST, Choosing a Wrong Vendor can Kill your Business
7
How to Determine the Place of Supply of Transportation Services
8
How to Determine the Place of Supply of Telecommunication and Financial Services
9
How to Get a New GST Registration?
10
Reverse Charge: Managing Purchases from Unregistered Dealers (URD) in Tally.ERP 9 Release 6

GST Rates for White Goods

As the nation prepared to embrace GST last month, it had almost seemed as if Diwali had arrived early. With attractive discounts being shelled out by home appliance stores across the country, household consumers did make the most of the opportunity. However, the happiness was bound to fizzle out once the GST regime dawned, as white goods have been categorised under the highest GST tax rate slab of 28%. Read More

Are you GST ready yet?

Get ready for GST with Tally.ERP 9 Release 6

When do you have to Pay Tax on Reverse Charge Basis?

Reverse charge is a concept we were familiar with, in the previous tax regime. To put it simply, under reverse charge, the liability to pay tax on a transaction to the Government is on the recipient. Under Service Tax, reverse charge was applicable in the case of specific notified services. Under VAT, in almost every state, on purchases from unregistered dealers, a registered person had to pay tax, on behalf of the unregistered seller. It was also applicable in the case of imports, where the importer had to pay import duties to the Government.
Read More

Are you GST ready yet?

Get ready for GST with Tally.ERP 9 Release 6

Want to Register under Composition Scheme in GST? Check your Eligibility

Businesses have to balance between managing their business and strive towards profitable venture. At the same time, caution and care is required towards compliance to various laws of the land. Over the past decade, with compliance in our country, though have taken the technology route, the amount of information to be furnished has increased. This naturally calls for dedicated time on the compliance front as they have a periodic deadline. Read More

Are you GST ready yet?

Get ready for GST with Tally.ERP 9 Release 6

Watchout: Payment Patterns may Change after GST

With GST one of the biggest change in habit would be that accounts need to be maintained regularly on a daily basis and the pressure on compliance would then become much lesser because then it becomes a normal activity. If the accounts are not being maintained regularly then it could end up being a high stress activity. Read More

Are you GST ready yet?

Get ready for GST with Tally.ERP 9 Release 6

Who are Casual and Non-resident Taxable Persons in GST?

Certain businesses operate in a manner that they occasionally undertake transactions in territories where they don’t have a fixed place of business. Under GST, a person who has a fixed place of business in a state and undertakes taxable outward transactions has to register, if his turnover crosses the prescribed threshold limit. What happens if a person undertakes taxable transactions in a place where he/she does not have a fixed place of business? Read More

Are you GST ready yet?

Get ready for GST with Tally.ERP 9 Release 6

How to Determine the Place of Supply of Transportation Services

Last updated on July 17th, 2017 at 10:36 am

Under Goods and Service Tax, ‘supply’ will be the single taxable event and the major transformation that will occur is ‘Destination based consumption tax’, where tax will accrue to the state in which the supply is consumed. The place of supply will determine the type of tax to be levied on the supply. Read More

Are you GST ready yet?

Get ready for GST with Tally.ERP 9 Release 6

How to Determine the Place of Supply of Telecommunication and Financial Services

Last updated on July 19th, 2017 at 02:01 pm

Under GST, specific rules have been laid down for determining the place of supply of telecommunication services and financial services. Knowing how to determine the place of supply is very important to ensure that the correct tax is charged on a supply.  Let us understand how to determine the place of supply of telecommunication services and financial services. Read More

Are you GST ready yet?

Get ready for GST with Tally.ERP 9 Release 6

How to Get a New GST Registration?

For businesses who are already registered under the existing taxation laws, the immediate actionable is to obtain a provisional GST registration; assess whether they are still liable to mandatorily register under GST – and accordingly, either migrate to GST registration or exercise the option to cancel the provisional registration. Read More

Are you GST ready yet?

Get ready for GST with Tally.ERP 9 Release 6

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