Tag: Tax

Composition Scheme – Impact on SMEs

The heart of the Indian economy is its small and medium business segment. As on today we have about 50 million SMEs in India – contributing almost 37% of the industrial output and 46% of India’s total export. With a stable growth rate of over…

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Get ready for GST with Tally.ERP 9 Release 6

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All you Need to Know about Job Work under GST

The manufacturing sector is the second largest contributor to our GDP. Many new initiatives taken by the Government in the form of Make-in-India, Invest India, Start Up India, and e-biz Mission Mode Project under the national e-governance plan are facilitating investment and ease of doing…

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Get ready for GST with Tally.ERP 9 Release 6

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Impact of GST on Suppliers on e-commerce Platforms

India’s e-commerce sector is expected to cross revenue of Rs.12,000 crores in 2020, according to a joint Assocham-Forrester study. It is also expected that the sector will grow at an annual rate of 51%, the highest in the world. The Indian Government’s recent move of…

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Get ready for GST with Tally.ERP 9 Release 6

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Life of Chartered Accountants under GST

If one looks at GST, it does seems like a boon for consumers – with the promise of lower prices; for businesses – with the promise of a simplified indirect tax regime; and for the Indian Government – with the promise of higher tax revenues….

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Moving to GST : For Registered Manufacturers

Transition provisions in GST have undergone significant changes in the Revised Draft Model GST Law published on 26th November 2016. Click here to read the revised blog post. The first and foremost task for you, as a business registered under the current law, is transiting to…

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Get ready for GST with Tally.ERP 9 Release 6

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GST Composition Levy Explained

This post has been updated on 24 April 2017 to incorporate latest changes. The current state indirect tax regime has provided a simpler compliance for small dealers known as the Composition Scheme. Under this scheme you, Are you GST ready yet? Get ready for GST with…

Are you GST ready yet?

Get ready for GST with Tally.ERP 9 Release 6

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Composition Levy – Does it Really Make Sense?

The biggest Tax reform in Independent India, Goods and Services Tax Act (GST) has brought on a platter, a concept called “Composition Levy’ to its taxpayer. Are you GST ready yet? Get ready for GST with Tally.ERP 9 Release 6 Get a Free Trial 28,343 total…

Are you GST ready yet?

Get ready for GST with Tally.ERP 9 Release 6

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How does GST Eliminate Tax on Tax? [Video]

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…

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Get ready for GST with Tally.ERP 9 Release 6

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How is GST Different from Current Tax Structure

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…

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Get ready for GST with Tally.ERP 9 Release 6

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GST, Price Inflation and Profiteering

“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.  Are…

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Get ready for GST with Tally.ERP 9 Release 6

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