GST is not just a tax reform but it is a business reform. It shall change the way in which business processes are performed and the way in which the business transactions are undertaken.
Textile industry has been politically protected under Central Excise. GST implementation could adversely effect the SME - job workers and traders.
With the fast changing business scenario, the way business is done is also changing rapidly. Presently, the buzz word is "E-Commerce"� or "Electronic Commerce"�.
Key takeaways along with 5 Major Carve-outs coming from 11th Meeting of GST Council held on 4th March, 2017:GST Council on its 11th Meeting held on 4th March, 2...
Movement of goods to job workers is an essential business situation which occurs frequently. Many times a manufacturer send goods to a job worker for getting further work done on them
Imagination and expectation does not always come true. When this expectation stands in baseless it creates panic and confusion in the reality.
Provided that the date of receipt of payment shall be the date of credit in the bank account when such credit in the bank account is after four working days from the date of change in the effective rate of tax.
Credit not to be reversed when inputs shown as scrap at lesser value and not written off
GST is in the offing and there is a lot of doubt about it in the market as well as in mind of public. Industry preparedness is waiting for definite law.
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