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GST Composition Levy Explained

The current state indirect tax regime has provided a simpler compliance for small dealers known as the Composition Scheme. Under this scheme you, Pay taxes only at a certain percentage of turnover File periodic returns only (usually on a quarterly basis) Have an option of not having to maintain detailed records or follow tax invoicing […]

GST, Price Inflation and Profiteering

“Government may consider anti-profiteering clause to ensure benefits of GST reach consumers”, screamed a headline in a business newspaper a couple days after the constitutional amendment pertaining to GST was cleared by Rajya Sabha, removing the biggest hurdle for the process to take off. The intent of the government is to save the common man from price […]

What is GST? How does it Work?

August 3rd, 2016 will be recorded as a red letter day in the history of Indian taxation due to the near unanimous passage of 122nd Constitutional Bill in Rajya Sabha, paving the way for roll-out of GST (Goods and Services Tax) in India from 1st of April 2017. Goods and Service Tax Bill has significantly evolved over […]