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

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. Are you GST ready yet? Get ready for GST with Tally.ERP 9 Release 6 Get a Free…

Are you GST ready yet?

Get ready for GST with Tally.ERP 9 Release 6

337,257 total views, 107 views today

GST Input Tax Credit Explained [Video]

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…

Are you GST ready yet?

Get ready for GST with Tally.ERP 9 Release 6

128,167 total views, 93 views today

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…

Are you GST ready yet?

Get ready for GST with Tally.ERP 9 Release 6

117,761 total views, 148 views today

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…

Are you GST ready yet?

Get ready for GST with Tally.ERP 9 Release 6

187,525 total views, 115 views today

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…

Are you GST ready yet?

Get ready for GST with Tally.ERP 9 Release 6

37,718 total views, 10 views today

What is GST? How does it Work?

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…

Are you GST ready yet?

Get ready for GST with Tally.ERP 9 Release 6

330,093 total views, 130 views today