Life Style,News

GST – All You Need To Know

admin,   29 May , 2017  

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India is ready for GST, are you? Know every thing about GST here and stay updated to avoid any loss.

  • GST is now on the path to be implemented from July 1st, 2017.
  • Types of taxation in GST
    • IGST : Integrated GST
    • CGST : Central GST which with replacement CST
    • SGST : State GST which will replace VAT
  • WEF from June 1st, 2017 : Migration towards enrolment of GST will start till June 1st, 2017.
  • Registration certificates will be issued online
  • There will be no check post for 1 year. Only mobile check posts will be in full force. All intelligence officers will be dormant for sometime.
  • 5 forms on different dates have to be submitted every month
    • R1 form on 10th
    • R2 form on 13th
    • R3 form on 15th
    • R4 form on 17th &
    • R5 form or final returns on 20th
      You cannot file revised returns at all. Once filed on 20th is final.
  • Tax payments will be accepted only by e payments. Tax Payments via credit & debit card also added.

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  • In the present VAT system you upload sales & purchases every Quarter. In GST you have to upload every sale & purchase bill every month.
  • Be careful , every thing in GST is system driven. Once uploaded you cannot revise anything. No officer can help you in this. They can only pity the mistake!!!
  • Your firm rating will be done by the system. Based on the rating audit trials will be conducted.
  • Proposed e-sugam for ₹50,000 & above value only.
  • Proposed rates of GST in percentage are 0, 5, 8 , 12, 18 , 28 & 40
  • 1st time in the history of independent India 4 major category of businesses will be covered : Education, Textiles, Medical & Professional services.
  • You need to submit 17 documents for migration to GST.
  •  Most products MRP to come down.

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  • Distribution and C&F channel under threat of becoming redundant
  • All these categories which were not taxed will now be taxable : Replacements/ return goods, Barters , Free Samples, disposables, scrap material. For example : if you buy a 40 inch led TV from a shop for ₹30000 & return back your old TV in exchange for ₹4000, you have to pay tax on ₹34000.
  • All movements of material will be taxable like : Head office to branch office (stock transfer), factory to C&F agent, godown to shop.
  • All books & records to be maintained on daily basis.
  •  The GST officer has all rights to value your goods & fix the price. The law will decide Valuation of the product at Various levels like : Manufacturing, wholesalers, distribution & retailers. For example if Kissan is selling Jam for ₹150 & Patanjali is selling the same Jam for ₹120. (Same quantity, flavour, ingredients etc) Then Patanjali has to pay tax on ₹150.
  • You will need a full time accountant in your shop/office to maintain books under GST.
  • All travel & tour expenses related to business have to be claimed under firm name.

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  • If your vendor does not upload his bills within 180 days , you will not get tax credit.
  • You cannot claim credit for material in stock beyond one year.
  • They propose that You have to dispose all your old stocks purchased under VAT/CST within September 2017.
  • All VAT related documents like C forms, F forms etc have to be cleared within Sept 2017.

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Uncategorized

Ice Cream Rolls Sector 50 Gurgaon

admin,   3 Mar , 2017   Video

Hello folks,

If you wanna try this yourself, Surely you can in Gurgaon Sector 50.

You can find this at Unitech Arcadia in Sector 50.

Map Location: https://goo.gl/maps/CAYoG1pjJi12

The rates are awesome and not a single product is costlier that ₹150.

I would suggest to go and enjoy it yourself at least once.

Life Style

Marijuana: A Curse Or A Boon (Do Vote)

admin,   4 Nov , 2015  

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If you don’t know what to vote for, then read the post and decide.

Do you think Marijuana should be legalized in your country?

What is Marijuana?

Marijuana, also known as Cannabis and by numerous other names, is a preparation of the Cannabis plant intended for use as a psychoactive drug or medicine. Cannabis is often consumed for its mental and physical effects, such as heightened mood, relaxation, and an increase in appetite. Cannabis is mostly used recreationally or as a medicinal drug.

Marijuana

Marijuana

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Sports

Top 5 WWE Wrestlers most loved by Indians!!

admin,   24 Aug , 2015  

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As an Indian, I know most of you might think of me as an aberrant person writing about WWE, ‘something not of Indian taste’. Though there are no Indian wrestlers in WWE except “The Great Khali” who no longer is a part of it, there are some prominent wrestlers loved by Indians. Of course this list consists of  “The Great Khali” but let me make it clear, he doesn’t top the list. Yes you read it right. Here is the top 5 WWE wrestlers most loved by Indians:


1. JOHN CENA John Cena WWE Wrestler

John Felix Anthony Cena  is an American professional wrestler, rapper and actor signed to WWE, where he is the current WWE United States Champion in his fourth reign. Although he is not an Indian, he ranks 1st in the list. Apart from his tough, cool body and exotic style, he has exquisite looks which makes him most popular among girls and top the list. Nicknamed ‘The Champ’ , John Cena has a motto ‘Never Give Up’. He also has a unique finishing move ‘FU’ now known as ‘Attitude Adjustment’.


2. THE GREAT KHALI The Great Khali WWE Wrestler More…

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Tech

9 Google Chrome Extensions You Must Have

admin,   22 Aug , 2015  

ShopZoi Price Comparison Preview

Most of us use Google Chrome as their default browser, but few know about these proficient extensions available for Google Chrome Browser which makes it more powerful than ever.
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