Posted on

Impact of GST Rates on Railway Tickets, Transport & Catering Services

GST impact on railway tickets transport and catering services

The Goods & Services Tax (GST) launched in July 2017 in India is a consumption based indirect tax levied on the supply of specific goods and services.

How does GST affect travelling and eating in Indian Railways?

In this article, we will discuss the impact of GST rates on railway tickets, transportation and catering services.

GST Rate on Rail tickets and Transport Services

GST is applicable to all the supplies of goods and services made through the railways, including passenger tickets, commercial transports and catering services. Read More

caportal
Posted on

TRAN 2 Filing Guide, Format, Rules and Due Date under GST

TRAN-2 Filing Guide

The registration threshold for GST is 20 lakh rupees. Any business with an annual turnover equal or more than this amount must register for GST and pay tax. This also includes those businesses who were not registered under the older (VAT) tax regime because of its high threshold limit.

Businesses who have migrated from VAT to GST and want to claim a refund for the tax paid on old stock must file TRAN-1 form. However, those businesses who were not registered before GST and do not have bill/invoices for the tax paid on their old stocks will have to file TRAN-2. Read More

caportal
Posted on

Impact of GST on Charitable Trusts, NGOs and Donations

Impact of GST on Charitable Trusts, NGOs and Donations

The Goods and Services Tax (GST) was implemented in India from July 1 with the aim to unify the various tax structures running in the country. GST has benefitted most of the business industries as well as people in India, while some others are still recovering from the immediate new tax regime impacts. Meanwhile, let us take a look at the impact of GST on donations and other activities of NGOs and charitable trusts. Read More

caportal
Posted on

GSTR 8 Return Filing Procedure, Format and Due Date for TCS Collector

GSTR-8 Return Guide

GSTR 8 is one of the GST returns that is to be filed monthly by e-commerce operators who charge TCS (Tax Collected at Source). Continue reading to find out more about GSTR 8 format, eligibility to file, due date, penalties, the return filing process, making revisions, etc.

About GSTR 8 Return

GSTR 8 is a special GST return which is filed by e-commerce companies who deduct TCS (Tax Collected at Source) from their consumers. The return includes the details of supplies made by an e-commerce operator through its online platform and the TCS collected on these supplies. Read More

caportal
Posted on

Impact of GST on Retailers in India – Retail Sector Overview 2018

Impact of GST on Retailers in India

The Goods and Services Tax (GST) launched on 1st July 2017 in India has more or less impacted every major and minor business sector in the country. While some industries are seeing growth as a result of decreased taxes, some others are facing a decrease in sales because of increased taxes.

Retail is one of the major industries in India and also one of the largest in the world. The Indian retail industry is expected to reach 1.3 trillion USD bIn y 2020 at a compound annual growth rate of 16.7%. GST is, as usual, applicable to almost every retail supply, affecting the cost for the end consumers. Let’s find out the details about the impact of GST on retailers. Read More

caportal
Posted on

Impact of GST on Healthcare and Pharmaceutical Industry in India

Impact of GST on Healthcare and Pharma Industry

The Goods and Services Tax is a unified, consumption-based tax on the supply of selected goods and services. It was officially implemented by the government of India on 1 July, 2017. The GST system is applicable on most of the commercial supplies including the healthcare and pharma industry products and services. The impact of GST on healthcare and pharmaceutical sector is becoming known with time. Let’s find out the GST rate on various medical supplies and how it impacts the people and businesses in general. Read More

caportal
Posted on

Impact of GST Tax Rate on Manufacturing Sector in India

GST Impact on Manufacturing Sector

Goods and Service Tax or GST was introduced in July last year. The unified tax system was aimed to restructure the indirect taxation system in India. GST was touted as a compulsory medicine for India’s lethargic tax system. In the long run, GST aims to establish the following key points:

In this blog, we look at the impact of GST on Manufacturing Sector. It has been more than six months since the new tax regime was implemented. As per industry experts and data from the Central Statistical Organization (CSO), the initial jolts of GST have withered away and there are good omens ahead for the Indian Economy. However, Manufacturing Sector it seems will still take some time to pick up the pace. 16 out of the 23 industrial groups in the manufacturing industry registered positive growth for the month of January 2018. Read More

caportal