Category Archives: GST

GSTR 2 Return filing,formats, eligibility and Rules

According to GST law, every registered taxable person is required to furnish details of Inward
Supply for a tax period.
1. What is GSTR-2?
Every registered taxable person is required to give details of Inward Supply, i.e.,
purchases for a tax period in GSTR-2. Continue reading

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Outcome of 21st GST Council Meeting

The GST Council in its 21st meeting in Hyderabad on 9 September 2017 has recommended various measures to ease the compliances for the taxpayers in the GST regime. Below is a gist of decisions taken by the GST Council:-

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Highlights of 20th GST Council Meeting

The 20th meeting of GST council was held in New Delhi on August 5, 2017. The below information is uploaded on the basis of GST Council’s decision and it will be subject to further vetting during which the information may … Continue reading

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GST Impact on Exports & Imports in the Textile industry

Since exports under GST would be zero rated, this would give a competitive edge to textile exports from India which is facing a strong competition from Bangladesh, Pakistan etc. Hence, integrated textile companies should see this as an opportunity, as … Continue reading

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Impact of GST on Textile Industry

The tax rate under GST is higher than the current tax rate for the textile industry. Despite this, the textile industry would benefit from the introduction of GST due to following changes:

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