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PPT on GST_ Prepared & Presented by TOP GST EXPERTS

PPT on GST_ Prepared & Presented by TOP GST EXPERTS _ click Link to download

Top GST Experts have taken a Small Seminar on GST on 9th April at Mumbai_ Please find the PPT attached herewith for your handy reference.

We should be now ready for GST to get maximum benefit from it.
GST will be a systematic Indirect tax, if you are well aware about it & its Impact on you, it can help you out to gain much more benefit from your business & to reduce avoidable cost. you have to just structure or i can say restructure your business properly

We are here creating a platform to share knowledge about GST, How it is going to structure & most important how it will going to impact you and your pocket.

Points Covered in Seminar

– Basics about GST
– Why GST is neccessary & it is better than existing tax structure
– Applicability 
– Important definitions
– Products & Taxes not covered under GST
– Impact of GST
– How to structure your business
– Interactive session
– Much more

GST_ CBEC proposes e-way bill for goods worth Rs 50,000 in transit

What is E – Way Bill??

Official shipping document that travels with a shipment, identifies its consignor, consignee, origin and destination, describes the goods, and shows their weight and freight. Prepared by the shipping company for its internal record and control, it is neither a contract of carriage nor a negotiable instrument. Common types of waybills include (1) Astray waybill, for shipment that was miscarried or got separated from its original waybill. (2) Blanket waybill, for covering two or more shipments with one document, and (3) Interline waybill, for covering handling of a shipment by two or more carriers.

To whom It is applicable??

The Central Board of Excise and Customs (CBEC) has issued draft rules on Electronic Way (e-way) bill that require registered entities to furnish, in a prescribed format, GST-Network (GSTN) website information relating to any goods worth more than Rs 50,000 they intend to move within a state or outside

How this E -way bill System in GST will work?

GSTN will generate e-way bills that will be valid for 1-15 days, depending on distance to be travelled – one day being for 100 kilometres and 15 days for more than 1,000 km transit.

“Upon generation of the e-way bill on the common portal, a unique e-way bill number (EBN) shall be made available to the supplier, the recipient and the transporter on the common portal,” stated the draft norms.

The person in-charge of conveyance will be required to carry the invoice or bill .. Tax officials would be empowered to inspect the e-way bill any time during the journey to check for tax evasion.

Where a vehicle has been intercepted and detained for a period exceeding thirty minutes, the transporter may upload the said information in FORM GST INS- 04 on the common portal.

Audit and assessment

Assessees would be expected to furnish their response within 15 days in case of a query raised during scrutiny or audit of their GST returns, according to the draft rules for audit and assessment.

The rules also propose that for provisional assessment of tax the registered taxpayer can request for a payment of tax on a provisional basis through application Form GST ASMT-01 either electronically on the GSTN or directly through a facilitation centre notified by the Commissioner.

Want to know more _ Click on link to get CBEC draft rules on E -way Bill.

ewaybill-rules

Key Features of Budget 2017

Key Features of Budget 2017-2018

INTRODUCTION

  • In the last two and half years administration has moved from discretionary, favouritism based to system and transparency based
  • Inflation brought under control. CPI-based inflation declined from 6% in July 2016 to 3.4% in December, 2016
  • Economy has moved on a high growth path. India’s Current Account Deficit declined from about 1% of GDP last year to 0.3% of GDP in the first half of 2016-17. FDI grew 36% in H1 2016-17 over H1 2015-16, despite 5% reduction in global FDI inflows. Foreign exchange reserves have reached 361 billion US Dollars as on 20th January, 2017
  • War against black money launched
  • Government continued on path of fiscal consolidation, without compromising on public investment.
  • The Indian economy has been robust to mild shocks and IMF forecasts, India to be one of the fastest growing major economies in 2017
    CHALLENGES IN 2017-18
  • World economy faces considerable uncertainty, in the aftermath of major economic and political developments during the last year
  • The US Federal Reserve’s , intention to increase policy rates in 2017, may lead to lower capital inflows and higher outflows from the emerging economies.
  • Uncertainty around commodity prices, especially that of crude oil, has implications for the fiscal situation of emerging economies
  • Signs of retreat from globalisation of goods, services and people, as pressures for protectionism are building up

Click Here to Read More…


Budget Speech 2017

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