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Tax adviser in India

GST on digital advertising companies

Assessment of impact on digital advertising companies

Present Scenario

  • For services rendered by a digital advertising company, it charges a service tax @15%
  • For input services availed by a company, it claims an input tax credit (“ITC”)
  • However, a digital advertising company is not eligible to claim ITC on any products used in producing digital content or capital goods purchased by it
  • The company file its service tax return on half yearly basis
  • Two returns annually which can be revised within a period of 90 days from date of filing

Goods & Service Tax (“GST”)

Registration : Registration is mandatorily … Read more

GST-ROll-Out-COnfirmation

GST rollout: Retailers working overtime to be prepared, deny impact on sales

Organised retailers do not expect the Goods and Services Tax (GST) to impact their sales despite general fears that it could disrupt businesses, and hope to be fully ready for the uniform tax regime in the next few weeks. “As GST will be rolled out from July 1, we have to be prepared. It will lead to better compliance and an organised way of doing things,”

“We are not anticipating any sales disruptions. Nobody has expressed concerns on that…For retailers, benefits will come as and when manufacturer change the prices, which we, in turn, will pass it on to … Read more

Goods and Service Tax

Records you should Maintain under GST

GST Laws in India mandate that all registered persons under GST maintain records and accounts in a specified manner. Every law of Direct and Indirect Tax in our country also mandates that information in a prescribed manner has to be captured and preserved for a certain period of time.  In this article, we look at the list of records to be maintained under GST in detail.

Present Tax System:

  1.  Excise Duty : Under Excise, the general records to be maintained are the RG-1 register (Daily stock account of excisable goods), Form IV register (Register of receipt or issue of raw
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GST

Goods & Service Tax

Impact analysis on various sectors

India’s looming the new regime of Goods & Service Tax (“GST”), a modern tax reform which will usher in growth and opportunities for businesses in India. It is a tax trigger, which will lead to business transformation for the industry. It will have a far-reaching impact on business avenues, compelling organizations to realign bottlenecks such as production cost, production time, supply chain, compliance, logistics etc. with changing indirect tax structure.

GST is a value added tax where tax is imposed only on the value added at each stage in the supply chain. It is levied … Read more