Gst Enable Accounting Software

1.  Lower threshold to expand SME Coverage under GST a)   The threshold limits under GST regime, is fixed at Rs.20 lacs (Rs. 10 lacs in case of specified states except J& K), above, is likely to bring a large chunk of SME Sector under GST because: ·Present exemption limit of 150 lakh under central excise is reduced to 20 lakhs under GST (however there is relief as well because in service tax exemption limit was 10 lacs in most of states the VAT registration threshold was between Rs. 5-10 lacs): Presently, a tax payer having business across different states in India, is entitled to the benefit of threshold limit in each State. Under GST, in such cases, the threshold limit would be available on an all India basis; and Compulsory Registration irrespective of threshold limit for large number of specified tax payers in following circumstances, would result in substantially higher registrations. b) Compared to the threshold exemption scheme presently prevalent w...

Please Wait .. Please Wait .. Transportation has very important role in business and the development of a country. Transportation of goods has a vital part in development of a business. Availability of raw material, packing material and plant and machinery from different part of the world and making the finished goods available to the customer in different part of the world depends upon the transportation system. Goods become cheaper and expensive depending on the transportation cost. The government has given separate rates of transportation of goods through different modes of transportation under GST. Transportation of some of the goods have been kept out of the ambit of GST. Goods are transported by using following means of transportation: - ·          By Air ·          By Water ·          By Road a.       Rail b.  ...