Have you ever come across the abbreviation MSMEs while going through the newspaper (especially business columns) or watching business news on TV? If yes its good, if not then let us inform you that MSMEs stand for micro, small and medium enterprises. MSMEs are considered to be playing a very important role as they are…
Category: GSt Registration
5 jaw-dropping facts about Sin Tax
Before we start with the facts about Sin Tax, let us ask you a question. Are you sinning? Aren’t you sure? Fine, let us then ask you a few more questions. Do you smoke, consume alcohols, eat tobacco or paan masala, take drugs, etc.? If yes, then you are unquestionably sinning. You might be thinking…
What is GST registration processing time?
Our intent of writing this blog is to educate you about the GST registration processing time. While establishing a new business, many will suggest you not to obtain GST registration since it’s not mandatory for the companies generating turnover under the threshold limit. But let us tell you that acquiring company registration isn’t sufficient. GST…
How to cancel GST Registration?
GST registration is still one of the most confused and talked topics in India. Due to a little knowledge on the same, people and industry professionals are unable to figure out when and where to get the GST Registration done. Generally, every business with a turnover more than Rs. 20 lakhs (except businesses in hilly…
Who are Entitled for GST Registration
1. A Supplier of taxable goods and services whose turnover in a financial year exceeds the following threshold limit state wise is eligible for GST registration: S.NO States Threshold limit (in lakhs) 1 North eastern states (Assam, Nagaland, Manipur, Tripura, Arunanchal Pradesh, Meghlaya, Mizoram, Sikkim) 10 2 Hilly states (J&K, Himachal Pradesh, uttarakhand 10 3…
What is the impact of GST on e-commerce?
The e-commerce businesses are wide spread across the globe and are clearly overpowering the physical retail businesses with the digital distribution. But it has always been the goal to capitalize their e-commerce industry and apparently is quite successful in that. When we talk about the e-commerce industry, what really comes to our mind is the…
Get More Information about GST Registration
The GST law makes it mandatory for many to apply for a GST registration. This article will cover multiple points under several different headings regarding GST registration in India. What Is The Prescribed Threshold Limit for GST Registration? The threshold limits of GST registration depend upon state to state. In case aggregate turnover of a…
GST- One Government One Tax, This Article On Gst- One Solution
What Is GST Registration? GST registration is an official regime in which the businesses whose turnover for the business is more than INR 2,000,000 (20 Lakhs) has to register themselves as normal taxable corporate entity. If the organization is not registered under GST regime it will be treated as an offence under the corporate laws…
Why GST Introduced in India
In previous tax structure, there was lack of uniformity as there were different rates for VAT which resulted in trade imbalance between states. Some of the reasons are prescribed below: Previously CENVAT was limited to manufacturing only and not beyond that. CENVAT paid could not be adjusted against VAT. CENVAT was made of various components…