GST Impact on Real Estate – Developers and Builders

Introduction The real estate sector is one of the most pivotal sectors of the Indian economy, ranked second only to agriculture. It has an average contribution of 5% – 6% to the Indian GDP, stimulating demand for more than 250 ancillary industries, and playing a…

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Get ready for GST with Tally.ERP 9 Release 6

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Persons who Need to Register under GST Irrespective of Their Turnover

This post has been updated as per the GST Council’s decision to exempt interstate service suppliers from mandatory registration. Under GST, certain persons have to compulsorily register, irrespective of their turnover. This means that such persons should register even if their turnover does not cross…

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Get ready for GST with Tally.ERP 9 Release 6

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GST Return Filing Guide for Tax Consultants

This guide is written for GST Tax Consultants (GST Tax Practitioners). If you are a business owner, you might still find it interesting to read further and forward this to your tax consultant. Topics Covered Introduction Details Required at invoice level Types of clients What are…

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Get ready for GST with Tally.ERP 9 Release 6

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Guide to File GSTR-1

This blog post is updated with the GST Council’s decision to extend the return due dates With the filing of GSTR-3B right around the corner on 20th August, 2017, businesses are in full swing gearing up to meet the deadline. Having said in our earlier…

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Get ready for GST with Tally.ERP 9 Release 6

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Works Contract under GST

What is works contract? Works contract, by definition, is an agreement to carry out for cash, deferred payment, or other valuable consideration – building, construction, fabrication, completion, erection, installation, fitting out, improvement, modification, repair, maintenance, renovation, alteration or commissioning of any immovable property. Typically, it…

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Get ready for GST with Tally.ERP 9 Release 6

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Did You Know Advance Received is Taxable under GST?

This article has been updated with the GST Council’s decision that suppliers of goods need not pay tax on advance received with effect from 15th November, ’17. Receiving advance for an order is a common business occurrence. Suppliers usually ask customers to pay advance for…

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Get ready for GST with Tally.ERP 9 Release 6

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