GST Rates Revised for 27 Goods and 12 Services

The Goods and Services Tax (GST) is one of the biggest reforms in India’s indirect tax structure post-independence. Since its implementation on 1st July 2017, SMEs have sought clarity concerning the changes that the new four-tiered tax structure will bring into the taxation system.

Through the GSTN Educational Series, we attempt to offer clarity regarding GST and the resounding impact it will have on the Indian economy as a whole. We evaluate the far-reaching implications that this attempt at ‘One Nation, One Tax’ legislation will have on SMEs in India.

The revised rates of indirect taxes for every good and service are specified in detail along with the modifications for inbound and outbound transactions. A simple infographic illustrates how to register under GST in four easy steps and lists the necessary documents required to be submitted by Private Limited companies, Partnerships and Individuals.

Source URL :  https://blog.capitalfloat.com/gst-rates-revised-27-goods-12-services/

Impact on Retailers in India after 2018 Union Budget

The Union Budget for FY18-19 was much anticipated, owing to reasons more than one. The first full-fledged financial plan after the introduction of GST and the last one by the Narendra Modi-led government, the most significant event of the Indian financial year is over. With the national polls looming in, the Union Budget rolled out by finance minister Arun Jaitely was favourable towards agriculture, rural development, social infrastructure and digital transformation. However, international mobile phone companies, bond investors, equity servicing institutions and the defence sector are at the not-so-advantageous end of the spectrum. In general, this year’s Union Budget has been a shift from the typical stance of the government that all segments need equal attention.

An industry segment that sees clear growth opportunities is retail. Amidst public opinion that the budget had not mentioned the retail segment, the various provisions have subtle repercussions that will help widen the scope of consumption. Consequently, this will have a long-term impact on retailers, where they can reap benefits from consumers with a higher expendable income.

Souce URL: https://blog.capitalfloat.com/budget-2018-impact-retailers-2018-union-budget/