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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News,Tech

Chrome : The most popular browser now

Akansha Devrani,   3 May , 2016  

Google Chrome

Popularity of every other browser is ruled by Chrome now : 

At the end of every month, using public data sources, we can take a look at trends in the desktop and browser markets and the day has finally arrived where Chrome is now a more popular browser than Internet Explorer.

In the land of browsers, Internet Explorer is king—but not for long. The most-used browser in the world is swiftly losing its prestigious ground to up-and-coming web browser, Google Chrome.

More…

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News,Tech

Virtual Reality:Expected From Google I/O In 2016

Akansha Devrani,   29 Apr , 2016  

SAN FRANCISCO, CA - MAY 28:  An attendee inspects Google Cardboard during the 2015 Google I/O conference on May 28, 2015 in San Francisco, California. The annual Google I/O conference runs through May 29.  (Photo by Justin Sullivan/Getty Images)

Introduction To Virtual reality(VR)

Virtual reality or virtual realities (VR), also known as immersive multimedia or computer-simulated reality, is a computer technology that replicates an environment, real or imagined, and simulates a user’s physical presence and environment in a way that allows the user to interact with it. Virtual realities artificially create sensory experience, which can include sight, touch, hearing, and smell.

More…

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News,Sports

World T-20 Playing XI

Sanyam Mittal,   5 Apr , 2016  

World T-20 Playing XI

Based on the performances in the world cup, a world T-20 dream team has been selected. The most shocking thing is the absence of the captaon cool, M.S.Dhoni. Virat Kohli from India has been selected as the captain.

Virat Kohli More…

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Bollywood,Humour,News

20 Unknown Facts About Deepika Padukone

Sanyam Mittal,   2 Apr , 2016  

Deepika Padukone

Debuting from the film “Om Shanti Om”, Deepika Padukone soon became the leading actress of bollywood. Apart from her acting and hotness, she is on media for issues like relationship with Ranbeer Kapoor and so on. Here are some unknown facts about her.


 

Deepika EX-BF More…

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News

List Of Foreign Banks Operational In India

Sanyam Mittal,   12 Mar , 2016  

Foreign Banks

India incorporates not just Indian banks, but some prominent foreign banks too.  Here is the list of all the foreign banks operational in India.

 


Australian Banks

  1. Australia and New Zealand Banking Group
  2. Commonwealth Bank of Australia

  3. National Australia Bank

  4. Westpac Banking Corporation
    More…

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Bollywood,News

Captain America: Civil War – Latest Trailer

Rupesh Pandey,   11 Mar , 2016  

captain america

Captain America is back with a bang and a whole lot of  stunning action. Official Trailer#1 was released few days back. Recently official Trailer#2 has been released which has got some heart throbbing surprise for you all. So don’t wait and start off the trailer but do remember to watch it till the last, as the last 10 seconds will give you goosebumps.

Do watch till the end for the surprise..

 

More…

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News,Sports

Asia Playing XI 2016 – Do You Agree?

Sanyam Mittal,   9 Mar , 2016  

Asia Playing XI

Asia Cup 2016 concluded recently on 6 March 2016 with team India winning the tournament for the sixth time. Based on the performance of each player in the tournament, a list of Asia playing XI is decided having Mahendra Singh Dhoni as the captain which is as follows :

Asia XI

 

  1. Rohit Sharma (India) : Opener Striker End

  2. Dinesh Chandimal (Sri Lanka) : Opener Non-Striker End

  3. Virat Kohli (India) : 1st Down

  4. More…

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