(Available in Desktop and Online(Cloud) Variant)
Due Dates: GSTR 3B, GSTR 1, (GSTR 9, and GSTR 9C) and GSTR 4 Respectively as Follows: 20 March, 11 March , 31 March and 18 Apr 2020 (Read a Guide)
The Goods and Services Tax (GST) launch in July 2017 in India is a consumption-based indirect tax that is levied on the supply of certain services and goods. The supply (sale) of e-rickshaw and its parts such as e-rickshaw tyres, batteries, etc are also under the GST cover and taxable accordingly. In this article, you will find out details about GST and its impacts on the supply of e-rickshaws, tyres and other parts of e-rickshaws in India.
The Govt, on 4th September 2018, announced GSTR 9 form which is an annual return for goods and services tax that will have to file by every taxpayer for the full year. The form of annual return is separate for the normal taxpayer (GSTR-9) and composition taxpayer (GSTR-9A). The new yearly return seems to be less difficult and simpler for taxpayers, however, a closer perusal of the format appears there might be some areas of conflict.
Despite being one of the largest business sectors in India, in terms of employment, the Indian handicrafts industry is suffering a lot because of the decreasing demands of handmade items in the country and abroad. The implementation of the goods & services tax (GST) has only increased problems for artisans employed in this industry. The confusion of tax rates on different craft items, increase in manufacturing cost, etc are just some of the issues being faced by the industry.
The Goods & Services Tax (GST) is an indirect tax that is levied on the supply of taxable goods and services. When GST was launched in July 2017, the rules were defined regarding the tax eligibility and rates for various supplies. Even though the major petroleum products (including crude oil, white petroleum (motor spirit, aviation turbine fuel), diesel and natural gas) have been kept out of GST cover, some other products such as LPG, fuel oil, kerosene, naphtha etc are included. There are some direct and indirect impacts of the GST on oil and gas sector.
The Goods and Services Tax (GST) is an indirect tax that is levied on taxable supplies of goods and services. The Indian government officially implemented the GST system on 1st July 2017 on the supplies made in and out of the country. The cement industry is an important backbone of the country’s economy. The implementation of GST which was expected to bring joy to the cement industry in fact brought not much in terms of benefits. Let’s find out how GST impacts the cement industry and the sale, demand and prices of cement.
GST Impact on Salary: Since its inception, the GST has had to go through regular periodic reviews and changes. In a diverse demographic country like India with a minuscule formal sector, the new indirect tax regime was bound to be met with frowning as well as surprised eyes. Touted as the necessary bitter medicine for the indirect tax dependent Indian Economy, there were concerns that GST will also affect the reimbursements availed by working salaried professionals.
GST (Goods & Services Tax) is an indirect, consumption-based tax which was implemented in India from July 2017 to replace all the existing indirect taxes, including sales tax, service tax and others. Income Tax has a very old history in India. It is a direct tax levied on the income/profit earned by Indian citizens. Both direct and indirect taxes are crucial for the economy of our country. Let’s find out how GST and income tax affect each other and what are the similarities and differences between GST and income tax.