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2018

Major Decisions and Announcements of 25th GST Council Meeting

Ever since GST is introduced, the government has made many changes into the law with a view to respond to industry demand as well as for making GST more suitable in terms of compliance and ease of doing business. All such key decisions are taken during the GST Council meetings held from time to time. The 25th and the latest GST Council meeting was held on January 18, 2018 at Vigyan Bhavan New Delhi. Below are the key highlights of the decisions taken by GST council meeting.

2018

Everything that you must know about E way Bill

Electronic Way Bill or E-Way is a new milestone in the country ever the since GST regime unfolded to unify direct taxes. The E-Way bill system is said to be made compulsory in all states starting from February 1 of this year. After being implemented and tested in almost 10 states, the government has given the E-Way a green signal throughout the nation to allow traders to monitor and track online the movement of goods and consignment.

2017

New Blog12

GST (Goods and Services Tax) is the most revolutionary and robust tax regime that has affected traders, manufacturers, and customers alike. It is due to the confusion and chaos created by GST, the government has to intervene time after time for spreading awareness, clearing doubts, and eliminating concerns of business persons and traders. That’s not all while resolving queries of the corporate world, the government has also taken care of the consumers who ultimately bear the pinch!

2017

How GST helped to improve Indias Ease of Doing Business Ranking

GST is capable of boosting India's GDP or Gross Domestic Product rate by 1.5-2 percent over the long term. This tax will deliver significant benefits by improved taxation efficiency and ease of doing business. The notion of ‘One Nation, One Tax’ converts India into a huge common market. The proposed system is more transparent, more paperless, but requires greater compliance as well. Prior to GST, indirect taxes in India have driven businesses to restructure and model their supply chain and systems owing to the multiplicity of taxes and costs involved. GST regime is going to be proved as business-friendly and pro-development tax reform in the long run.

2017

Impact of Recent GST Changes on Common Man

GST (Goods and Services Tax) has spread both confusion and chaos across the corporate sector in India. Apart from finance and account-related problems, many business persons are still in the state of confusion because of the lack of clarity in India’s biggest tax reform. The GST regime is here to stay and the government has started to consider the requests from various industry sectors.

2017

10 Reasons for Increasing Demand of Business Accounts in GST EraGST has brought a radical change in the way Corporate India pays taxes during the financial year. While implementing ‘One Nation, One Tax’ approach on July 1, 2017, the government has sent a clear message to the businesses that more transparency and openness in the business model must come with this biggest tax reform.

On one hand, GST has posed many challenges in front of Indian enterprises and on the other hand, it has opened the doors of opportunities for skilled business accountants. Yes, it’s true! An updated, tech-savvy, and experienced accountant can grab the opportunities offered by the GST regime.

Financial Management