SME sector is contributing more than 40% industrial output in India. The single lane taxation system is supposed to help the small and medium enterprise. It offers some hurdles as well if we talk about the initial years. If you are running an SME business, you must be adding something on national GDP. For this
It is said that the GST is a catalyst for removing all imbalances in market and economy. The Senior Director of Indirect Tax stated that the principles of fiscal equivalence had been broadly followed in arriving at the GST rates for various products. Some products are there which will come with higher rates after the
Indian tax department has recently finalized the third stage of GST bill which is dealing with 1211 items has been introduced to improve the ease of doing business in India. The new shape of GST bill is effectively making food grains cheaper while exempting essential items such as milk and cereals from the levy altogether.
Here we are pointing out the top five mistakes done by the MSMEs under Goods and Services Tax scheme. If you have less knowledge about this area, you could go through the write up once – it won’t take much of your minutes. In fact, each of the invested minutes will be beneficial for your
Introduced two and half decades back, GST, the Goods and Services Tax is regarded as the biggest reform in India’s indirect tax structure since our independence. The emerging project, Make in India, has initiated the RS to undergo an important bill which has been passed recent days. However, it differs for different regimes. A question