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.
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:- Continue reading
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 undergo some changes. Key takeaways from such meeting are as under:- Continue reading
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 the advent of GST will spur the textile sector with major capital investments bringing the cost of capital down. Continue reading
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: Continue reading