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13 June 2017

Maintaining Accounts and Ancillary Records under GST

Accounting and reporting form the backbone of compliance of any company. The indirect tax regime in India prescribes the standards that need to be maintained for accounting pertaining to tax and other ancillary information. Records need to be maintained...

13 June 2017

Basics on GST Payments – All You Need To Know

GST returns are mandatorily required to be provided on a monthly basis under the GST regime. Ever taxpayer must file his returns diligently by the 20th of every subsequent month. In case such tax due has not been paid,...

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13 June 2017

A Brief Snapshot of the GST Rates

The Goods and Services (GST) Council so constituted, convened on May 18, 2017 to discuss and finalize GST rates for approximately 1200 goods spread across in almost 100 categories. Additionally, on May 19, 2017, the GST Council met to...

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05 June 2017

CENVAT and VAT – Transitioning under the GST

Transitioning under the GST is imperative for all businesses once the GST regime sets in. Every business must understand what category it falls under to ensure smooth transitioning from the erstwhile indirect tax regime into the GST regime. Review...

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05 June 2017

Conditions for Transitioning under the GST Regime

Upon GST transition taking place all over the country, you need to be updated with the basics. This article is going to help you understand all you need to know with respect to your business and compliances that you...

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05 June 2017

Treatment of Returned Goods – Under the Current and the GST regime

Returning a good once sold is very common – even for business during the course of trading. Under the erstwhile indirect tax regime, once a good is returned it has a reducing effect on the total sales turnover of...

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05 June 2017

Transitioning under the GST Regime – From a Composition Dealer to a Regular Dealer

In case you are a registered taxpayer under the erstwhile indirect tax regime, you will be provided with a provisional registration under the GST regime and an opportunity to transition. Once this provisional registration has been granted, a dealer...

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03 June 2017

Transitioning under the GST Regime – From a Regular Dealer to the Composition Scheme

Transitioning under the GST Regime – From a Regular Dealer to the Composition Scheme The GST regime calls for registration – that is the first step in transitioning towards a single unified tax system in India. But first we...

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