Hello friends; Hope you are enjoying our corporate updates. Today I, would like to educate you about some important facts of GST. Details are:-
- GST abolished 17 major indirect taxes.
- You have to file monthly one return in three steps (A) Upload the Sale (B) Cross-verify the purchase which is uploaded by supplier (C) Pay Tax and Upload the final return.
- The entire process is very simple and easy, even entrepreneur can file return with little bit knowledge of internet, excel and computer.
- No need to buy any specific software. GST portal needed data in excel format so, Government website and Microsoft excel is enough to manage your GST return.
- You can pay tax in cash through notified banking channels up to Rs 10000. If tax amount is more then Rs 10000 than you have to use online tax payment service.
- You can do manual billing too but all the bills (Electronic & Manual) serial numbered.
- No need to appoint a permanent professional. At the time of any dispute or audit you must appoint practicing professional as per law.
- E-way bill is so simple, just like sending a message from your mobile phone.
- GST Rates are – Zero Percent, Five Percent, Twelve Percent, Eighteen Percent and Twenty Eight Percent.
- GST is completely applicable from July 1, 2017.
Thank You | Regards | Sukhwinder Singh | 9999939069