Composition scheme is a simple and easy scheme for small traders and business in GST. Amitbhai Patel, a small-time trader in Madhupura Market of Ahmedabad. His business turnover was ₹48.37 lakhs last year and due to demonetization, he doesn’t expect his turnover for this financial year to be more than ₹55 lakhs. He deals with numerous traders and
Posts tagged as “GST”
First of all, let’s welcome the GST Month. But why GST Month? After hectic ITR month for audited businesses its time when most of the businesses will file their first GST return. Earlier, 6 Returns needed to be filled with the GSTN portal from 1st September till 30th September. But as we all know the portal
Rural Craftsmen and Artists who were ready to showcase their products online are in tizzy. The problem is, they can either use their skills to produce the handmade goods or learn the complexities of GST. GST has become very complex for these handicraft artists and sellers. Many artisans have been outspoken that GST will paralyze
GST has been rolling over our heads ever since we first heard of it. Everyone in this country is trying to decode GST somehow in their own way but we have hardly cracked GST. Implementation of GST just a few days away from us. Let’s try to understand what we need to do to be ready for
It’s a Good day for Renewable sector. Last night the GST rates have been declared on all the products, equipment's and machineries required in producing Renewable Energy. As against the Industry Expectation of 12%-18% slab government has come up with 5% slab. This is a very strategic decision in order to promote the renewable sectors.