Posts Tagged: tax

Tax Club

Critical Analysis of GST Slabs in India

Throughout the world, over 160 countries have adopted the Goods and Services Tax while France remains the parent country. India adopted this new tax system on 1st July 2017 with the One Hundred and First Amendment of the Constitution of India, replacing the various cascading taxes imposed by the central and state governments. Inspired by Canadian model, India adopted a dual-GST structure which is seen as the biggest tax reforms in the history of India.

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What is GSTR 1return?

GSTR-1 is a return that is mandatory for every certified trader to file. This return contains details of outward supplies by that trader. The term ‘outward supply’ has been defined in the Central Goods and Services Tax Act, 2017. It implies all sales of either goods or services or of both, by methods of,

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How is GSTR 1 Form filed?

Are you facing difficulty in filing GSTR-1? Don’t worry! This is your one-stop guide to finally understanding GSTR for what it is, and how is it to be filed.

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What are the Requirements for Registering a Sole Proprietorship

In a Sole Proprietorship, only one corpse or human being executes the business. Accordingly, the holder and the business are examined as individual material and substances. In other words, there is no variety between the sole-proprietorship and its possessor. Business drafted out by a single person is not like conventional and classical businesses. It is more of a one-man-show which is not expandable beyond an assertive point. Moreover, there is no decree or law leading its listing and working.

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What is the Composition Scheme under GST?

On July 1st, 2017 the Government of India announced GST to be applicable throughout the territory of India including the State of Jammu and Kashmir. At first huge resentment was shown by the public to the GST being applied as some were in a state of confusion that how to apply GST over their regular methods of applying service tax and some were worried that how will they now be able to evade tax liability. But the small dealers who were eligible to pay tax were the ones in the most disturbed state of mind as to whether the provision of composition scheme under service tax will be repealed or will continue to operate under the new Goods and Services Act, 2017.

Critical Analysis of GST Slabs in India

What is GSTR 1return?

How is GSTR 1 Form filed?

What are the Requirements for Registering a Sole Proprietorship

What is the Composition Scheme under GST?

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