The Sin of Being Small: How GST Law will Affect you

Arguably the biggest indirect tax transformation will be upon us in a few weeks from now. The law makers are deliberating on the specific clauses and contours of it – so that the appropriate legislations can be passed. Are you GST ready yet? Get ready…

Are you GST ready yet?

Get ready for GST with Tally.ERP 9 Release 6

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Scenarios where you cannot Avail Input Tax Credit

In our previous blog we learned about the conditions for availing GST input tax credit and the scenarios in which input tax credit (ITC) can be availed. In this blog, we will discuss the scenarios where you cannot avail Input Tax Credit. Are you GST…

Are you GST ready yet?

Get ready for GST with Tally.ERP 9 Release 6

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Conditions for Availing GST Input Tax Credit

In the current tax regime, various conditions are applicable for availing input tax credit. A brief overview is given below: Type of Input Tax Credit Conditions for availing Input Tax Credit (ITC) VAT As a VAT dealer, you can avail credit of the VAT paid…

Are you GST ready yet?

Get ready for GST with Tally.ERP 9 Release 6

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Moving to GST: For Registered Businesses

The first and foremost task for you, as a business registered under the current law, is transiting to GST. While it is important to know the fundamentals of GST, it is also very critical for you to understand GST transition provisions available, and take the…

Are you GST ready yet?

Get ready for GST with Tally.ERP 9 Release 6

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Moving to GST: Can I Avail Input Credit on Closing Stock?

On the date of transitioning to GST, broadly there will be business who fall under any of the following categories: Businesses not liable to be registered under the current law, but are liable for registration under GST Business which are engaged in the manufacture or…

Are you GST ready yet?

Get ready for GST with Tally.ERP 9 Release 6

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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…

Are you GST ready yet?

Get ready for GST with Tally.ERP 9 Release 6

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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

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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

90,633 total views, 14 views today