Have Customers across States? Here’s how GST will Affect you

The ultimate dream of every business is growth and expansion. One starts a business, earns profit, re-invests, earns more profit – and the cycle continues. You get your first customer, then 10, then 100. You start off in your immediate locality, and as you grow,…

Are you GST ready yet?

Get ready for GST with Tally.ERP 9 Release 6

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How to Determine the Place of Supply of ‘Specific’ Services

We have discussed about the general rules for determining the place of supply of services in our earlier blog. Let us now understand how to determine the place of supply in case of certain specific services. Are you GST ready yet? Get ready for GST…

Are you GST ready yet?

Get ready for GST with Tally.ERP 9 Release 6

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What is Union Territory GST (UTGST)?

In our previous blogs, we have discussed about the taxes that will be levied on supply under GST. On intrastate supplies, the taxes levied are Central GST (CGST) and State GST (SGST). On interstate supplies, the tax levied is IGST. Another component of GST is…

Are you GST ready yet?

Get ready for GST with Tally.ERP 9 Release 6

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How are Imports and Exports Treated in GST

Taxation laws have laid down the taxes applicable on import and export of goods and services. In the current tax regime, laws of Customs duty, Excise, Service Tax and VAT lay down the tax treatment of imports and exports. In the GST regime, Excise, Service…

Are you GST ready yet?

Get ready for GST with Tally.ERP 9 Release 6

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Impact of GST on Working Capital for SMEs

Working capital is the lifeline of a business to carry out day-to-day operations. Managing working capital efficiently is a problem that plagues both small and large businesses. Inability to manage working capital may have adverse effects, including premature closure of businesses. Are you GST ready…

Are you GST ready yet?

Get ready for GST with Tally.ERP 9 Release 6

25,629 total views, 5 views today

What is Time of Supply for Services on Reverse Charge

In our previous blog, we discussed Time of Supply for Services under the Forward Charge Mechanism. Under the reverse charge mechanism, the recipient or buyer of services has to pay tax to the credit of the government unlike forward charge, where the supplier has to pay…

Are you GST ready yet?

Get ready for GST with Tally.ERP 9 Release 6

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What is Time of Supply for Goods on Reverse Charge

In our previous blog post What is Time of Supply for Goods on Forward Charge we discussed time of supply for goods on Forward Charge. In this blog, we will discuss time of supply of goods on reverse charge. In order to ensure that the tax…

Are you GST ready yet?

Get ready for GST with Tally.ERP 9 Release 6

39,699 total views, 4 views today

What is Time of Supply for Services on Forward Charge

In our previous blog post What is Time of Supply for Goods on Forward Charge we discussed time of supply for goods. In this blog, we will discuss the Time of Supply on Forward Charge for Services. Are you GST ready yet? Get ready for GST…

Are you GST ready yet?

Get ready for GST with Tally.ERP 9 Release 6

33,806 total views, 1 views today

What is Time of Supply for Goods on Forward Charge

Point of Taxation (POT) refers to the point in time when tax is required to be paid. This is a mechanism which is used to determine the point in time when the tax liability will arise. Under the current indirect tax regime, the point of…

Are you GST ready yet?

Get ready for GST with Tally.ERP 9 Release 6

40,126 total views, 5 views today

How to Determine Place of Supply for Services Provided at Immovable Properties

An immovable property is an immovable object, an item of property that cannot be moved without destroying or altering it. The property is fixed to the earth, for example, a piece of land or a house. In the current tax regime, taxable services provided in…

Are you GST ready yet?

Get ready for GST with Tally.ERP 9 Release 6

53,211 total views, 5 views today