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GST or Goods and Service tax came into existence on 1st July 2017, a day which made all the businessmen keep silent for a while. On this day, the Indian businesses finally implemented this much-awaited tax. It is a game that changed the entire tax structure by replacing the indirect taxes levied by the State and Central government of India. GST tax rates declared by the Indian government have four slabs named as 5%, 12%, 18% or 28%. In actual fact, most of the goods have levied at 18%. What is the impact of GST on the pocket of a common man? Does GST affect businesses in such a way that cut the pocket of a common man?
Before the launch of GST regime, every sector was in negative thoughts. Now many of these have taken a sigh of relief. In other words, some cons are hitting the Indian sector, while many pros are welcome. What about the impact of GST (Good and Service Tax) on Indian startup? Is the future of Indian startup beneficial or not? Well, the future of Indian startup is safe and secure with the introduction of GST regime. In brief, for all the startup, it will be good to levy GST. But, how?
The term GST revealed in 2000 but come into reality on July 1, 2017. Once introduced this date, there have been many changes in the proposed GST bill, which should know to all businesses. Because GST (Goods and Service Tax) is a constitutional amendment and any amend in the law will affect the rules therein as well. Rules for a penalty, rules expounding the point of taxation, rules of invoicing – are some examples of GST News that must be known by the entrepreneurs.
What is GST Offline Tool? GST Offline Tool is used to generate json file based on your Invoice Data. We have to use that json file to submit GSTR1 return. GST Offline tool is available from office government GST website https://gst.gov.in/