A month after Goods and Services Tax was rolled out traders, manufacturers and customers are settling into the new tax regime. While eating out has become a little more expensive for the urban middle class, manufacturers are elated over the benefits of Input Tax Credit. With old stocks in invento…
Tag: GST
Why Indian SMEs enduring finserv disruption will reap the benefits
The financial services (Finserv) landscape in India has shifted dramatically in only the last few months. Following the dramatic implementation of demonetization efforts, the nation is now underway with a Goods and Services Tax reform (GST). Both of these events are disrupting the typical way sma…
GST regime affects small diamond units in Gujarat
Small diamond units in Gujarat say doing business in the goods and services tax (GST) regime has become difficult due to increased compliance requirements and uncertainty over when they will get input credit refund. The nearly 50,000 small and medium units in Surat and Saurashtra employ close to …
MSMEs look up to Composition Scheme for GST levy; 5 lakh businesses opt for benefits
With the number of businesses registered on GSTN increasing day in and out, the need and followed benefits of opting composition scheme is also catching fire amongst small businesses. As many as 5 lakh businesses have opted for the Goods and Services Tax (GST) Composition Scheme as of July 30, in…
GST Impact: How multiple tax slabs give SMBs reason to invent cash trail
With differential tax slabs for same commodity, traders may imitate the designs of registered brands but price their product lower
…
GST figures: Over 10 lakh new registrations approved, another 2 lakh in process
In addition about 71 lakh people have migrated to GST out of earlier registered persons. Once registered, provisional GSTIN is allotted to furnish business details.
…
How to make GST work for small firms
The GST exemption limit should be raised to Rs1 crore. Concessions should extend to exports, inter-State sales and e-commerce
…
DBS Bank & Tally Solutions bring GST-enabled banking solution for SMEs
With a single login, SMEs can make payments, track payment transaction status and automatically send payment receipts, along with suppliers’ invoice details
…
‘Working capital management could be an issue for MSMEs under GST’
The combined effect of monthly tax payments, receivables on account of a longer trade credit cycle, and possible delays in getting Input Tax Credit could see funds getting blocked
…
Easy loans come to rescue as SMEs inch towards GST
Banks releasing working capital loans for SME clients & providing own readymade SaaS-enabled platforms for easier GST compliance; Online lenders trying to tap into post-GST market
…