Under GST, transporters should carry an eWay Bill when moving goods from one place to another when certain conditions are satisfied. It seems still the GST regulations are yet to stream line for the business continuity and absolutely, Government is also helping the traders the best possible they can and the recent regulation on GST says,
On Intra-state implementation
* E-way bill operations are compulsory for intra-state movement of goods for all states except Delhi with effect from 3rd June 2018
* Eway bill operations are compulsory for intra-state movement of goods for Andaman & Nicobar, Chandigarh, Dadar & Nagar Haveli, Daman & Diu, Lakshadweep, Maharashtra and Manipur from 25th May 2018
* eway bill operations are enabled on trial basis for the intra-state movement of goods for Odisha from 23rd May 2018
* Roll out of e-Way Bill system for intra-State movement of goods in the States / Union Territory of Arunachal Pradesh, Madhya Pradesh, Meghalaya, Sikkim and Puducherry from 25 April 2018…..Read More
In order to promote GST and assist in various procedures involved, Masters India has entered into collaboration with BSNL to provide a set of veritable solutions for GST compliance. These solutions are exclusively crafted for BSNL users – both landline and mobile, available on a pan-India level.
The solutions are ready-to-use with ease in registrations. BSNL users can register themselves using their respective account numbers in the given website (www.bsnlgst.mastersindia.co). Post which, they can straightaway file returns without the hassle of waiting in a queue. The solutions can be divided into three categories:
· Basic Plan (free of cost, comes with 2,000 invoices)
· Plus Plan (Rs.1,999, comes with 6,000 invoices alongside other benefits)
· Pro Plan (for enterprises)….Read More
GST is certainly a game changing in the Industry with a concept of ‘one nation, one market, one tax’ arrangement. Revenue Collection from Imports Increase by 11% in First 15 Days of GST Implementation. With this the total revenue flow from imports stands at Rs 12,673 crore from July 1-15 as compared to Rs 11,405 crore in the corresponding period in June. GDP will increase by 1.5-2 per cent.
The government on Wednesday notified that the Goods and Services Tax rate for selling space for advertisements in the print media would be 5%. If an advertising agency sells that space to a client, then it too pays 5% GST, but if it sells the space on behalf of the newspaper, it would have to pay 18% GST on the commission charged by the paper….Read More
It’s a little over a month that GST has come into effect and under normal circumstances businesses would be hurrying to file their GST returns. The government with a view to calm the nerves among business owners has provided some relief with the regular filing norms being relaxed for the first 2 months. As a substitute to this, all businesses are expected to submit a consolidated summary of their sales and purchases through a form called 3B. However, this still needs to be a submitted in the GSTN portal like a regular return. Tally Solutions, the premier Indian software company, has announced the release of Tally.ERP 9 Release 6.0.3 which will allow users to generate Form 3B.
Given how critical precision of data is in the GST regime, Tally.ERP 9 Release 6.0.3 promises easy generation of accurate Form 3B through its powerful error handling experience which intuitively prompts the user on gaps in transactions and helps correct them. In addition, the release supports vehicle, LR/RR numbers in GST invoices, invoices with cess support for tobacco based products and coal and refund for cancelled transactions against advance receipts and payments. Users will also get a dashboard which details of reverse charge liabilities arising out of dealing with unregistered dealers….Read More
As per the news report, Canalys, a market research firm has reported that smartphone market has contracted for the first time in India. The report highlights that shipment of smartphone fell by 4% year-on-year to 27 million units in the country. This drop in the shipment is mainly due to the implementation of GST which took place on July 1,2017.
talking about the impact of GST, Rushabh Doshi, Canalys Analyst said that the entire market is confused over GST and a lack of awareness about the changes that are needed. He also added that the market has adopted a wait-and-see policy as the distributors and retailers are apprehensive about the impact on prices.
Most of the banks have automated Core Banking functions. Their collection process grossly remains manual, maybe because it is outsourced to collection agencies and they have not been deploying technology ….Read More
Dell EMC has announced that it will deliver comprehensive on-premise digital Enterprise Resource Planning (ERP) solutions to enable Micro, Small & Medium Enterprises (MSMEs) across India to become Goods and Services Tax (GST) ready. SAP’s pre-packaged “GST-in-a- Box’” solution will be available to MSMEs through joint go-to-market initiatives across 30 SAP GST solution centres across 15 cities in India. Through the new solutions, customers can make their businesses GST-ready in 100 days, thereby ensuring minimal disruption when it comes to transitioning to the new tax model while focussing on what they do best.
The Goods and Services Tax (GST), a single-window taxation system, is expected to be a catalyst in the digital transformation of Indian businesses of all sizes, including MSMEs. As per a CII report, this sector contributes up to seven per cent of the manufacturing GDP, 31-per cent of the GDP from service activities and 37 per cent of manufacturing output to the Indian economy. There has also been a growing focus of the Indian government on MSMEs across industries. A five per cent reduction in income tax declared in the Union Budget 2017 will prove beneficial for the sector, thereby encouraging their growth prospects….Read More
Tally Solutions has announced that it will conduct 7,000 “Upgrade your Tally” camps across the country to help customers move to GST ready software.
The company will work with its network of 28,000+ partner network in the country to cover all cities and towns. The schedule of camps is available at tallysolutions.com/events.
Businesses can walk into any of these camps as per their convenience between 8 AM to 8 PM, get their Tally upgraded to GST ready Tally ERP 9 Release 6 and also get their GST queries answered by GST experts. In addition, businesses who are interested to experience GST ready Tally will also be able to get a free demo of the product on-site. The company is also hosting DIY tools on its site help.tallysolutions.com to simplify the migration process….Read More : http://www.varindia.com/news/tally-to-conduct-7000-gst-adoption-camps