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GST on Bitcoin in India – Tax Rate on Cryptocurrency Trading Profits

GST on Bitcoins in India

Thinking about the future of cryptocurrency? Is bitcoin legal? What can be the effect of GST on bitcoin in India? How to pay tax on bitcoin profits? You must read this article to clear all your doubts.

Let us begin with some simple questions… What if there is a currency out there which is not controlled by a bank or a single administrator? Who would control the rate of exchange? Who would back this currency? Well, if you have heard and know a little about cryptocurrencies or say bitcoin to be more specific then the answer to all the above questions is actually “THEY DON’T MATTER”. But going by recent developments in Finance Ministry of India and the Central Bank, the government at the centre appears to be making a roadmap for regularisation of cryptocurrency trading and exchange. The days when cryptocurrencies like bitcoins and exchange platforms like zebpay would be on GST’s radar do not seem far ahead. Read More

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GST Impact on Tourism Industry in India According to Tourist Seasons

GST Impact on Tourism Industry

On the historic midnight of 30th June 2016, India’s PM Narendra Modi ushered the country into the age of GST – ‘One Nation One Tax’. Being an impartial tax framework, the effects of GST can be seen across all domains. The Indian Tourism industry which was valued at US$ 136.2 in 2016 has also faced the impact of GST. This article aims to highlight the GST impact on tourism industry in India. Read More

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GST Impact on Kite Industry in India – Hit Hard by 5% GST Tax Rate

GST Impact on Kite Industry

The goods and services tax, which was launched earlier this year, has affected almost every service and production sector in India. While some business sectors experienced positive changes after GST, most of the industries reported a degrade in their growth because of GST implementation. One of them is the Indian kite industry.

Most of the kite businesses in India are situated in Rajasthan, Delhi, Gujarat and Uttar Pradesh states. The annual business of this sector was more than 40 crore rupees until last year. The major rise in the demand for kites is seen in the months between Diwali (October-November) and Holi (March) festivals. However, the business is seeing a decline of as much as 50 per cent this year because of the GST. A big number of kite merchants are not able to continue their businesses (shops) under GST regime. Read More

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Impact of GST on Freight Charges and Goods Transport Agency in India

GST on Freight

Freight refers to the bulk transportation of goods via road (train or truck), air (aircrafts), or water (ship). Just like many other goods and services in India, the freight industry has also been affected by the Goods and Services Tax (GST) which was officially implemented on 1st July 2017 in the country. In this article, you will find details about GST on freight and freight charges, transporting services and agents, tax liability, the provision for registration, input credit on freights, and more. Read More

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GST Accounting Software India – Read A Comprehensive Guide Before Buying

GST Accounting Software India

Overview of GST Accounting Software in India: With the transition of modern India, GST has become the predominant phase for a common man to traders to big businesses as GST structure is fresh and at the same time dubious as well. In this regard, a GST software application comes into the light and plays an important role in managing systematic GST tax filing and accommodating Indian firms with GST requirements. Numerous GST accounting software applications are out there in the market and competing to prove themselves the best, but only some are good considering pricing, features, and user-friendly platform. Read More

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How will GST Impact on Logistics Service Industry in India?

What is the GST impact on logistics industry? How will the GST rate affect logistics services? Logistic Industry consists the interplay of various manufacturing and trading activities in India on day to day basis. It is growing towards the top to meet the increasing demand and supply gap. Considering the current scenario, logistic is the backbone of rapidly growing Indian economy. Read More

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GST Anti Profiteering Rules, Application Form and Filing Process

Anti-Profiteering Rules and Application Form

The Indian government has officially released the GST anti-profiteering rules and application form (APAF-1), which can be used by consumers for filing a complaint against any business or dealer who is not passing on GST benefits to his consumers. An anti-profiteering committee has been established for the purpose whose sole job will be to look into such complaints and provide timely solutions to make sure that GST benefits are properly passed on by all taxpayers to the end consumers. Read More

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