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Frequently Asked Questions (FAQs ) on eWay bill

All those companies dealing in goods, eWay bill is a good thing happening to them. The e-way bill provisions aim to remove the ills of the erstwhile way bill system prevailing under VAT in different states, which was a major contributor to the bottlenecks at the check posts. We have analysed the key FAQ’s that will be helpful to know eWay bill;

What is eWay bill?

eWay bill is a document required to be carried by a person in charge of the conveyance carrying any consignment of goods of value exceeding Rs. 50,000. This is similar to the concept of Transit bill, Bill T used to transportation of goods except that it will eliminate state-wise documentation and ensure faster transit of […]

All you should know about GSTR 1

Broadly, details required to be captured in the GSTR-1 format are either invoice-wise, rate-wise, or state-wise details of outward supplies made during the month.
If the GSTR 1 returns are not filed in time, it will have an impact on the creditability of one’s business. Subsequently, it will also impact one’s customers since ITC depends on supplier compliance. Read the blog to know more !

GST Composition Scheme-Better or Myth ?

Under various laws, there is a provision of Composition scheme which is for the small businesses and in GST regime also Composition Scheme for many startups and Small & Medium Enterprise (SMEs) has been introduced.

But is it really worthy opting for this scheme? The clear analysis in our blog will help you in forming an opinion.

How to deal with GST Impact on Housing Societies?

The confusion on registration for housing societies under GST is faced by many but it is clear that they have to get registered under GST. Which means if you stay in a housing society where your monthly charges in excess of Rs 5000 then brace up to pay 18% GST where the total turnover has exceeded 20 lacs.

Transitional provision under GST-Section 140

Businesses are waiting to make the transition to the new laws under GST as we get closer to the appointed day. Clear Transitional Provision under GST is to ensure that smooth transition happens to new tax regime. Read to know the process to be followed for getting the credit.