Reverse Charge Under GST – Comprehensive Guide
The reverse charge under GST is a mechanism where the GST is paid by the receiver of the goods and services. Normally, the supplier pays the tax but in GST reverse charge, the same is paid by the recipient. In a nutshell, it can be said that the charge-ability gets reversed in reverse charge under GST. In this blog, we shall discuss the GST reverse charge in-depth. Also, if the reverse charge is applicable under GST and if yes, then when. Goods and Service Tax, popularly known as GST, is the new tax regime in India that has replaced various
Read moreHow Is An Instant Business Loan App Helping in Getting A Business Loan?
The rapidly increasing technology has resulted in an instant business loan App through which a borrower can avail a business loan with ease. Apart from the ease in applying and availing a business loan, an instant loan business App has several other benefits as well. This blog talks in length about the various benefits offered by a mobile App to the borrower seeking a business loan. The rapid progress of technology has led our lives to be all surrounded by it. It has made everything so convenient and comfortable by reducing the turnaround time. As a small business owner, one of
Read moreRegular Taxpayers To Be Felicitated By Government
Well, if you are honest and always pay all your taxes on time, here’s a good news for you! The central government is planning to honour the taxpayers who pay their taxes on time, in order to encourage them. On Sunday, the officials said that such people will be given priority to use places, such as the airport, railway station, toll barriers, and national highway. And not just this, all the work related to the taxes of the regular taxpayers will be dealt with priority. The official further said that there is also a proposal to congratulate the regular tax
Read moreGovernment Increases Import Duty On Smartwatch, Telecommunication Equipment
The central government has increased the import duty on the telephone, smartwatch, and other items of communication on Thursday. The Ministry of Finance has increased the import duty on base station and digital line system and some selected communication equipment from 10 percent to 20 percent. The increased import duty will come into effect from Friday. The Central Board of Direct Taxes and Custom (CBIC) said in the notification that the Central government has decided to increase the custom duty on the products under Section 85 of the Custom Tariff Act. The electrical machinery and equipment, sound recorder, television image
Read moreGST Bill: Comprehensive Guide To GST Invoice
GST bill was introduced in India on July 1, 2017. Many people since then have been wondering what GST means and often search on internet GST explained. Many people also search for what is GST in detail. This blog talks in length about what GST is with example, GST rates, GST bill, and the information mandatory to be mentioned in the GST bill. What is GST? Also Read: GST registration Process GST or Goods and Services Tax is the indirect tax reform in India introduced by the government of India. It has subsumed taxes, such as Central Excise Law, Service
Read more