Archive | GST

5 Basic Things about GST Everyone Should Know

If you are a business, it is nearly certain you deposit some tax other than income tax. It could be in the form of service tax, excise duty, VAT or some version of custom duty. These taxes are called indirect taxes. Nearly all of these taxes will now be replaced with GST. But the implementation […]

Continue Reading

How GST will impact the wallet of the common man

Since the passing of the GST Constitutional Bill by the Rajya Sabha in August last year, the country has been preparing itself for the new tax regime. The new GST law is India’s biggest tax reform initiative which is expected to improve compliance levels, increase government revenue, and create a common playing field for the […]

Continue Reading

GST Council clears the way for the rollout of the GST Bill

Last Thursday, the Goods and Service Tax Council gave the green signal for rolling out the new tax (Goods and Service Tax) regime from July, clearing all regulations and legislations required for one of the most aspiring and ambitious tax reform measures since Independence. The GST council, which met in New Delhi, approved the union […]

Continue Reading

GSTN under scrutiny for tax evasion, says CBEC

The Goods and Services Tax Network – a privately held firm that is tasked with building the IT infrastructure required for the country to transition to GST – is now under scrutiny from the service tax department of CBEC. The CEO of GSTN received a summons asking them to appear in person or through a representative […]

Continue Reading