Under Goods and Services Tax (GST) regime, every taxpayer would be assigned a compliance rating based on the compliance record of the assessee. As per Section 149 of the CGST Bill passed by Parliament, “Every registered person may be assigned a goods and services tax compliance rating score by the Government based on his record […]

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The statutory tax rates under the Goods and Services Tax (GST) Act have been announced and will be become effective from 1 July. These will replace all applicable indirect taxes. While some goods and services are going to get cheaper, some are set to get taxed more. Currently, various financial services and transactions attract service […]

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Regarding GST impact on Railways, minister Suresh Prabhu says railways has advantage on long-distance transportation, highlights need for a dynamic business strategy Passengers will experience a dramatic change in speed and punctuality of Indian trains by 2020, railway minister Suresh Prabhu said in an interview. Prabhu said that investments and reforms introduced in Indian Railways […]

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# GST will 100% be implemented on 1.7.17 # Types of taxation in GST IGST : Integrated GST CGST : Central GST which with replacement CST SGST : State GST which will replace VAT # WEF from 1.6.17 : Migration towards enrolment of GST will start till 15.6.17 # Registration certificates will be issued online […]

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GST is one indirect tax for the whole nation, which will make India one unified common market.  GST is a single tax on the supply of goods and services, right from the manufacturer to the consumer. Credits of input taxes paid at each stage will be available in the subsequent stage of value addition, which […]

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