January 19, 2017
COMPOSITION LEVY

Does Composite levy under GST compensate SMEs for loss of exemptions?

As per current indirect tax laws, SMEs claim an exemption from Excise duty under following conditions: Manufacturers – If the turnover is less than Rs. 1.5 Crore Traders – As Excise duty is a tax on manufacturing, traders can choose to opt out regardless of the turnover. If they choose […]
December 29, 2016
GST Registration

GST Registration Enrollment Process

GST Registration has already started for the existing tax payers. Taxpayers will receive a postal letter or email from state tax authorities containing provisional registration id and password to enable users with registration. States have declared the deadlines to get registered for the new taxation.  The GSTIN migration window for […]
October 20, 2016
Why GST exemption limit for SMEs

GST exemption limit for SMEs could have been higher at Rs.1.00 Cr

Why should Government have a higher threshold exemption limit for GST ? Centre and the states are working closely to roll out GST as per schedule i.e, 1st April 2017. GST Council which comprises of Central and State Finance Ministers is meeting every month to decide on the key issues. […]
October 17, 2016
GST Council meeting

GST Council Meeting 18-20 Oct : What to Expect

The all-important three-day meeting of the GST Council, is scheduled for October 18 to October 20th, which will decide on the GST tax rates and other items including 1. Calculation of tax revenues to estimate compensation to states for likely loss in revenue. 2. Issue of Dual Control over Assessees […]
October 5, 2016
GST to negatively impact Air Travel

Know 5 reasons why air travel will be costlier after GST

How will GST impact the Indian Aviation industry  which is at the moment growing steadily with the introduction of affordable fares and newer sectors. Domestic traffic in the aviation sector has taken a turn for the better. Railway budgets are ever increasing and has been steering people towards flying. Newer […]
September 29, 2016
GST & Hotel Industry

How GST affects Hotel & Tourism Industry

2016 winter parliament session will finally set the discussions on 122nd constitution amendment bill rolling, GST or the goods and service tax will be the point of focus, as the Modi government is keen on implementing the new tax regime from the 1st of April 2017. The final drafting of […]