GST implementation: moving one step at a time

Implementation of GST regime and ensuring a smooth transition from the current regime is indeed a mammoth task for the Indian government. Nonetheless, the government is leaving no stone unturned. Instead of taking one giant leap and imposing everything at one go, the government is trying to take small steps towards their ultimate goal. In[…]

Impact of GST on education sector

Education is one of the key sectors for any economy. The skill, training and education of a country’s manpower go a long way in deciding how the economy of that country will flourish. Education promotes understanding, creativity, out-of-box thinking, vision and productivity of people which helps in the advancement of a country. The more knowledgeable[…]

Ecosystem workshop to connect startups with GST

As the GST era is approaching, the government has started its preparations to help the country adapt to new policies. The training and transition are two of the major concerns with GST regime. To overcome them and to help businesses adapt to new regime, the government has taken an initiative to link the start-ups to[…]

GST set to affect the healthcare sector

Healthcare is one of the largest and fast growing sectors in India forming an integral part of the economy. The sector is actually an integration of various sub-sectors engaged in providing goods and services, related to health care, diagnostics and treatment, to the people. One of the major concerns for the healthcare industry lies in[…]

Impact of GST: media and entertainment sector

The Indian media and entertainment sector is yet another integral part of our economy. Due to its rapid paced growth along with an ever increasing demand and bright future prospects, it is even referred to as the sunrise sector of the economy. The implementation of GST is likely to have both advantages as well disadvantages[…]

GST Registration – All you wanted to know

Registration of a business with the tax authorities implies obtaining a unique identification code from the concerned tax authorities so that all the operations of and data relating to the business can be agglomerated and correlated. In any tax system this is the most fundamental requirement for identification of the business for tax purposes or[…]

New Tax Credit Policy to give a boost to “Make in India” initiative

In order to encourage foreign as well as domestic companies to manufacture their goods in India, the Indian government had launched the “Make in India’ initiative in 2015. The programme is expected to create more job opportunities and give a boost to Indian economy by attracting foreign investments. Moving a step ahead to strengthen this[…]

Next on GST’s radar is the gem and jewellery sector

The gems and jewellery sector plays an important role in Indian economy. From being a major foreign exchange earner to a significant contributor of country’s GDP (6-7%); it is one of the thrust areas of export in India. The government has given various fiscal incentives so as to boost the growth of the sector like[…]

Import and Export under Proposed GST

IMPORT DUTY: Current State:  Central Government levy taxes when an article or thing is brought into its territorial limits. The duty is called Basic Custom Duty. It is the tax charged on imports. Along with Basic Custom duty, Countervailing Duties u/s 3(1) and 3(5) are also charged to compensate for the losses of Excise Duties[…]