India has been a major exporter to the rest of the world for a long time. India’s economy and GDP are growing faster because of new laws that make it easier to sell goods abroad. Also, if you want to start an export business in India, you can get a lot of help from the government once you’ve registered and licenced your business. Even if you are just exporting services, you will still need GST Registration because the Indian
Indian state finance ministers have asked that the highest rate of the goods and services tax (GST) be raised from 18% to 28%. This is likely to hurt the country’s new online gaming industry. This article will give you the most recent information about GST on Online Gaming. Latest Survey for GST on Online Gaming In an online poll done by LocalCircles, more than 80% of the people who answered said that the GST rate on online gambling, casinos, and horse
There are a lot of cryptocurrencies now. A lot of Indians are putting money into cryptocurrencies. Whether you own a business or work for a living, if you have investments in Cryptocurrency in India, you must also know about GST on Cryptocurrency. This article will talk about how cryptocurrency is taxed and how GST works in India. What is Cryptocurrency? The two parts of the word are “cryptocurrency” and “money.” Currency is just the type of money used in a country,
The garment industry in India is one of the oldest and biggest contributors to the country’s GDP, job growth, and exports. In the textile industry, which is one of the oldest and second-largest manufacturing sectors in the country, there are both skilled and unskilled workers. So, businesses need to know about the GST on Apparel, Clothing, and textile products. What is the Goods and Services Tax? The Goods and Services Tax (or GST) was put in place on July
Real estate is one of the most important parts of any country’s economy, and it has recently been getting a lot of attention in India. This article will tell you how GST affects the real estate market. You will know more about GST on Commercial Property in particular. Previous Legislation of Taxes on Commercial Property Before the GST was put in place, landlords had to sign up for service taxes. But this only mattered if the taxes on all of his
The agriculture industry is a big part of how the Indian economy grows. India is one of the best places in the world to grow and sell agricultural products like rice, wheat, sugarcane, and spices. In rural India, agriculture is one of the most important industries that hire people. Because of this, taxing the agriculture sector is a very important part of the economy. India’s Goods and Services Tax (GST) went into effect in 2017, and it has a
The GST is taking the place of the old system of state and national indirect taxes. A wide range of goods, like food, drinks, clothing, technology, and accessories, are subject to the GST. The goods and services tax also applies to many stationary items, like paper, pens, and pencils. This article will talk in depth about India’s GST on stationery items. What is the GST Rate on Stationery items in India? Most stationery items, like pens, are put into the HSN
Goods and Services Tax rules say that you can sign up for GST for free, even if the law doesn’t require you to. Any business that sells goods or services can voluntarily sign up for GST, whether or not they meet the minimum requirements. If you want to find out more about Voluntary GST Registration, keep reading this article. What is Voluntary GST Registration? Firms that aren’t legally required to register for the Goods and Services Tax can do so if
Since July 1, 2017, when the Goods and Services Tax (GST) went into effect, indirect taxes in India have changed. The Central Sales Tax (CST), State Sales Tax (SST), Service Tax, and other indirect taxes have been replaced by the GST, which is an all-in-one tax. This article talks about the GST rules and how they affect the hotel and tourism industries in India. What is GST? GST is India’s new tax system, which took effect on July 1, 2017. Before, the
The term “co-operative housing society” refers to a legal entity that is made in accordance with state co-op rules. Section 2(16) of the Maharashtra Co-operative Society Act, 1960, says that housing societies are groups whose main goal is to give members open plots for housing, dwelling houses, or flats, or, if these properties have already been bought, to give members common services and amenities. These are the people who live in a particular neighborhood. Together, they would help members in