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GST

STEPS TO FILE GSTR 2

Detailed procedure with explanation Log in to the GST portal with valid credentials (User Id, Password). Navigate to the GSTR 2 home page through >Return Dashboard> Select Financial Year(2017-18) and Return Filing Period and click on Search button> Click on PREPARE ONLINE option on GSTR 2 tab. You will find …

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GST

5 surprising things to know about GST penalties, fees and interests

If you don’t file your return by the due date, you will have to shell out Rs. 200/- per day till you file your return as penalty. Filing does not mean submitting return. Return is filed only after you click file, enter your OTP and ARN is generated. Your tax …

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GST

Impact of GST on ecommerce sector

Impact on E-commerce market place and sellers: According to capital float, presently  GST appears to be an assortment of compliance guidelines. The enhanced regulatory requirements might take a seller’s focus away from operations for some time. However, GST as a single tax product across india will be beneficial for all e-commerce sellers …

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GST

GST on Tour and Travels

GST is a destination-based tax on consumption of goods and services. This tax is levied at all stages right from the manufacture /production up to its final consumption with credit of taxes paid at previous stages available as set off. In other words, the value addition will be taxed. The …

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GST

GST on Gold

The curiosity of the effect of GST implementation on gold prices is genuine. Women love jewellery but it comes with a price and with the implementation of GST, whether those prices have lowered or increased is still a  question for most. The price of gold following the adoption of the Goods …

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GST
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Understanding GSTR-3

The discussion of GSTR-1 which contains details of all sales and GSTR-2 which the details of purchases is already done. Now we will discuss GSTR-3 which will contain the monthly summary of sales and purchases along with the tax liability . What is GSTR-3? GSTR-3 would be a consolidated monthly return …

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GST

GST impacting Real Estate

The real estate sector is estimated to account for about five per cent of India’s gross domestic product (GDP) and is considered the second-largest employer in the country, according to an E&Y report from 2015.However, the sector faces issues in terms of macroeconomic conditions and fiscal policy decisions. One such challenge …

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GST

GST impacting Textile industry

India’s textiles sector is one of the oldest industries in Indian economy dating back several centuries. Even today, textiles sector is one of the largest contributors to India’s exports with approximately 15% of total exports. The textiles industry is also labour intensive and is one of the largest employers. The …

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GST

Understanding GST

GST Or Goods and Services Tax is an indirect, comprehensive, multi-stage, destination based tax that is levied on every value addition More than 150 countries already have GST. In India, it was first considered by Vajpayee government in 1999 and was implemented on 1 July 2017 after being passed as …

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GST

UNDERSTANDING GSTR-2!

As quoted by Albert Einstein “Any fool can know,the point is to understand.” To have a better understanding of GSTR-2,we need to get familiar with the term GSTR first. What is GSTR? GSTR or Goods and services tax return are the documents containing details of income which a taxpayer is …

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