benefits of GST

Central TaxesState Taxes
Location: Thiruvananthapuram, Kerala, India

Comments

Post a Comment

Popular posts from this blog

Billing Software in kerala

View: Why govt should reduce GST tax slabs to 4 per cent, 16 per cent & 24 per cent  Finance minister Arun Jaitley says there's scope to reduce slabs for Goods and Services Tax (GST). Reducing the tax slabs does make perfect sense. It would simplify the tax system: make it transparent, efficient and tax payer-friendly.  We currently have four slabs fixed for GST, a low rate of 5 per cent, two standard rates of 12 per cent and 18 per cent, and a high rate of 28 per cent. It would make sense to drop middling 12 per cent and 18 per cent rates and opt for 16 per cent  It would make sense to drop middling 12 per cent and 18 per cent rates and opt for 16 per cent as the standard rate to be levied on most items. It would also be desirable to reduce the peak rate.  Note that apart from the four-rate slab structure in the GST regime, we also have 0 per cent on certain items of mass consumption, 3 per cent on gold and jewellery, and additional cess on high-end consumpti...
Read more

10 Easy Steps to Improve Your Billing Process Right Now - Aster Billing

10 Easy Steps to Improve Your Billing Process Right Now ASTER BILLING FOR A small business, billing can often be a nightmare. Even after the tedious process of sending out the invoices, there’s no guarantee of on-time payment.It’s a time-consuming cycle. However, it is an essential part of the business. That is why it’s important for small businesses to have an efficient invoicing system in place.Are you a business owner looking to get paid on time and worry more about your business than the bills?  Here are 10 easy steps for improving your billing process right now. 1. SET YOUR TERMSBefore you start working with a client, you should both agree on a set of terms. It’s the basis for good customer relations, it helps you avoid surprises, and increases your chances of getting paid on time.The terms should clearly state:whether you bill hourly or by the project;your fee and any additional fees;when the project is to be completed;the types of payments you accept;a timeframe in...
Read more

Matching & Reconciliation under GST

Matching & Reconciliation under GST – Importance & Procedure GST Reconciliation and Matching are not new to any taxpayer. This has been prevalent in earlier VAT and excise regime too. Then, the matching of data between the books of accounts and tax returns was an easy task for many business organisations. If the tax department on processing returns found some discrepancy, communications would be sent to the taxpayer and accordingly further scrutiny and audits would be carried out by the authorities. But under  GST , this process has gained significance as the sanity of the Input tax credit utilised by businesses is monitored by the GST authorities regularly. Also, the taxpayers must on regular basis reconcile their data every month with the data declared by its vendors too. The return filing and processing are semantically automated and the  GST returns  are inter-linked. 1. What is Matching & Reconciliation under GST? Following Mismatches can b...
Read more