Goods and Services Tax

GST Simplified for your Business

1
How to Apply for a New GST Registration
2
Registered Dealer? Learn How to Transition to GST
3
Composition Levy – Does it Really Make Sense?
4
How to Set Off Input Tax Credit Against Tax Liability in the GST Regime
5
GST Input Tax Credit Explained [Video]
6
How does GST Eliminate Tax on Tax? [Video]
7
How is GST Different from Current Tax Structure
8
GST, Price Inflation and Profiteering
9
What is GST? How does it Work?

How to Apply for a New GST Registration

Last updated on July 13th, 2017 at 06:52 pm

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This post has been updated on 3 May 2017 to incorporate latest changes.

In the post titled Registered Dealer? Learn How to Transition to GST,  we discussed the essentials of GST registration, and the forms needed for existing dealer registration. In this post, we will understand the registration process for new business registrations. Read More

Are you GST ready yet?

Get ready for GST with Tally.ERP 9 Release 6

Registered Dealer? Learn How to Transition to GST

Last updated on July 16th, 2017 at 11:00 pm

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This post has been updated on 3rd May 2017 to incorporate latest changes.

With each passing day, we are moving one step closer to the GST regime. The four GST Bills (CGST, UTGST, IGST and Compensation bill) have been passed by Lok Sabha and Rajya Sabha and are approved by the President. As businesses begin their preparation towards the new taxation system, obtaining your GST registration is the first step in GST transition process. Read More

Are you GST ready yet?

Get ready for GST with Tally.ERP 9 Release 6

How to Set Off Input Tax Credit Against Tax Liability in the GST Regime

Last updated on July 17th, 2017 at 12:13 am

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We introduced Input Tax Credit (ITC) in a previous post.
Now let us understand how to set off your input credit against your tax liability in the GST regime.

Read More

Are you GST ready yet?

Get ready for GST with Tally.ERP 9 Release 6

GST Input Tax Credit Explained [Video]

Last updated on July 16th, 2017 at 10:54 pm

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This post has been updated on 21, October 2016 to incorporate latest changes.

One of the fundamental features of GST is the seamless flow of input credit across the chain (from the manufacture of goods till it is consumed) and across the country. In this section, let’s discuss about various conditions laid down by law to avail GST input tax credit on supply of goods or services. Read More

Are you GST ready yet?

Get ready for GST with Tally.ERP 9 Release 6

How does GST Eliminate Tax on Tax? [Video]

Last updated on July 16th, 2017 at 10:40 pm

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In the current regime of indirect tax system, the chain of input credit, at a certain point, is broken. Let’s say Central Sales Tax (CST) applicable on interstate trade is non-creditable, leading to a break in the input credit chain. Similarly, a manufacturer charging excise duty on sale to a dealer causes the chain to break. Read More

Are you GST ready yet?

Get ready for GST with Tally.ERP 9 Release 6

How is GST Different from Current Tax Structure

Last updated on July 14th, 2017 at 07:02 pm

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This blog post has been updated on 6th June 2017.

GST (Goods & Services Tax), a single unified tax system aims at uniting India’s complex taxation structure to a ‘One Nation- One Tax’ regime. It is the biggest tax reform since India’s independence.

What does this mean? What will be its impact? What is the difference between GST and current tax structure?

Read More

Are you GST ready yet?

Get ready for GST with Tally.ERP 9 Release 6

GST, Price Inflation and Profiteering

Last updated on July 14th, 2017 at 07:04 pm

“Government may consider anti-profiteering clause to ensure benefits of GST reach consumers”, screamed a headline in a business newspaper a couple days after the constitutional amendment pertaining to GST was cleared by Rajya Sabha, removing the biggest hurdle for the process to take off.  Read More

Are you GST ready yet?

Get ready for GST with Tally.ERP 9 Release 6

What is GST? How does it Work?

Last updated on July 13th, 2017 at 03:52 pm

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This post has been updated on 2 December 2016 to incorporate latest changes.

August 3rd, 2016 will be recorded as a red letter day in the history of Indian taxation due to the near unanimous passage of 122nd Constitutional Bill in Rajya Sabha, paving the way for roll-out of GST (Goods and Services Tax) in India from 1st of April 2017. Goods and Service Tax Bill has significantly evolved over the past decade Read More

Are you GST ready yet?

Get ready for GST with Tally.ERP 9 Release 6

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