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8 search results for "gst software"

Modern Taxation In India Driving Digital Transformation In Finance

More information is being captured now at every level in order to ascertain hidden wealth and income levels of people When we think of Modern Taxation in India, we inevitably think of Goods and Services Tax (GST) because this has been the biggest tax reform implemented in the country since Independence. Long overdue GST has, in a single stroke, unified and subsumed about 17 different indirect taxe...

Impact of Goods and Services Tax (GST) on the Indian Economy

The nation was trapped in the net of indirect taxes as well as the archaic taxation system and the economy needed a push for a simple, flat tax structure that would simplify the complicated tax policy. As the new taxation reform GST was introduced with the slogan of one tax one nation, economists hoped that it would iron out the wrinkles in the existing tax system. While on one, the rollout of new...

Mandatory Implementation of GST E-Invoicing w.e.f April 1, 2020

The coming April month of 2020 will mark the mandatory beginning of the GST E-invoicing system in certain business categories. This necessity will bring along many benefits for banks and businesses, particularly for MSMEs. Mandatory invoicing will let MSMEs avail bank loans easily and instantly. And also, the banks will now need not have to check a huge bundle of tangible documents as the authenti...

Important F&Q For Annual Return Form GSTR 9A Under Composition Scheme

Those who are not conscious about the Annual GST return, GSTR-9, it has become available to file on the GST portal. The taxpayers who fall under the composition scheme be prepared to file their Annual GST return in Form GSTR 9A. It is possible that some sorts of issues or doubts can arouse while filing GSTR 9A form under composition scheme. So here in this post, we are putting light on the doubts ...

Important Compliance Due Date of GST Act August 2019

GST Act was introduced by Modi Government in the year 2017 to develop a provision for levying and collecting tax on intra-State supply of goods or services or both by the Central Government and for the concerned and connected matters or incidents thereto. The compliance calendar dates forma that were have included have been included in this compliance sheet and not be to be missed if the penalty h...

A Complete Guide on Tax Payments under GST

The birth of GST in India has completely wiped out the complications of different taxes at different stages and has played a pivotal role in the removal of cases like tax-evasion, bribery and other forms of corruption. Implementing its unique slogan ‘One Nation – One Tax – One Market’ it has successfully covered a long distance in this way too. Consequently, it has had a tremendous impact on the w...

All software transactions will be uniformly taxed at 18% GST rate

Government has in a recent notifications clarified that all software transactions will be uniformly taxed at 18% GST rate. This includes software services, supplies on media or temporary transfer of IP.  Please find attached the relevant notification providing the rate applicable on Temporary or permanent transfer or permitting the use or enjoyment of Intellectual Property (IP) right in respect of...

First Consultative Workshop on Implementing ‘GST System’ with Tax Accounting Software Product Companies

Goods and Services Tax Network (GSTN) wish to invite Tax Accounting software product companies to the first consultative workshop on implementing ‘GST System’. The proposed workshop will be the first step towards ensuring that Tax Accounting Software Products are GST ready before 1/4/2016. This interaction will also help GSTN to understand companies’ needs and challenges. In orde...