Wednesday, 13 December 2017

GST EFFECTS ON READY MADE GARMENTS IN INDIA: BEST GST SOFTWARE

Now in this blog post we explain the GST effects on ready made garments in india how the gst make changes in the prices of the products here listed:

http://www.ssstp.com/retail-software.php



  • COTTON AND FIBER there was no previous tax on this but now have 5% GST.
  • All Categories of YARN there was no previous tax on this but now have 5% GST.
  • SILK AND JUTE there was no previous tax on this but now have 5% GST.
  • MAN-MADE YARN, MAN-MADE FIBER, SYNTHETIC YARN there was no previous tax on this but now have 5% GST.
  • FABRIC there was no previous tax on this but now have 5% GST.
  • BRANDED GARMENTS PRICE MORE THAN RS 1000 2% without CENVAT and 12.5% with CENVAT (Chapter 61,62,63) : 7.5 % (60% Tariff Value) now have GST 12%.
  • OTHER GARMENTSGarments/ articles of Cotton and not containing  other textile : Nil (W/o Cenvat) and 6% w.o. CENVAT also Others : Nil (W/o Cenvat) and 12.5% w.o. CENVAT but now have 5% GST(no overflow of credit allowed).
Now here comes the conclusion part in detail many kinds of protests taking place for gst implementation in garment sector which is hit adversely because of GST.

  • According to the GST tax rates, GST rate garments and apparels is 5 % up to ₹1,000, beyond which they are taxed at 12 percent. The same rates is also hold true for other readymade apparel such as salwar kurtas, dresses, skirts, tops, and jeans. Further, synthetic and other manmade fibers will attract a higher tax of 18 per cent while other natural fibers (except silk and jute) will be taxed at 5 percent.
जीएसटी का भारत में तैयार वस्त्रों पर प्रभाव: सर्वश्रेष्ठ जीएसटी सॉफ़्टवेयर
HERE ARE LIST OF SOFTWARE FOR GARMENTS INDUSTRY WITH GST LISTED:

BEST GST SOFTWARE                  GST TRANSPORT SOFTWARE

GST EFFECTS ON RESTAURANT BUSINESS IN INDIA: BEST GST SOFTWARE

Now after GST implementation all over India on all kinds of business the food prices also changes, this also effects on restaurant business here in this post we explain it to you about the GST effects on restaurant business. Before GST no one look at the bill tax paid by he/she in any restaurant but with GST everyone looks the tax he/she going to pay in the bills.


http://www.ssstp.com/


GST ON RESTAURANT BILLS:  Before GST the restaurant charged tax in their bills as:


  • Service tax for the services is 6%.
  • VAT charged on the food is 14.5%.
  • Service charges 10% added extra by the restaurant for their own pockets no given to the government.
  • Krishi kalyan tax
  • Swacch Bharat Cess
Now the total tax calculated be more than 20 % plus the 10% extra tax not given to the govt. But GST make it a single tax here other taxes are removed. GST rates are explained below:

  • NON-AC RESTAURANTS: Those do not serve alcohol, road side Dhabas, eateries and local food delivery comes into this have 5% GST(2.5% CGST,2.5% SGST)
  • NON-AC RESTAURANTS(SERVE ALCOHOL): 5% GST
  • AC-RESTAURANTS: 5% GST
  • PARTIAL AC AND PARTIAL NON AC RESTAURANTS: 5% GST
  • FIVE STAR RESTAURANTS: 18% GST
Service charges not banned ,restaurants can charge the service charge in their bills but it is on to the customer if they like the service than can give the charge else it is not mandatory.

Also the GST on grocery items like wheat,spices,oil etc have gst only 5% that is beneficial for
SOME SOFTWARE TO MANAGE THE BILLS WITH ACCOUNTING FOR GST IS HERE:

ONLINE GST SOFTWARE                                            ONLINE RETAIL SOFTWARE
ONLINE BILLING SOFTWARE                                   ONLINE INVENTORY SOFTWARE

ONLINE ACCOUNTING SOFTWARE                        ONLINE TRANSPORT SOFTWARE



GST EFFECTS ON LIQUOR: BEST GST SOFTWARE

Now here in this post we explain you to about GST effects on liquor business. Some key points regarding liquor business are listed below:

http://www.ssstp.com/


ALCOHOL/LIQUOR EXEMPTED FROM GST:  As for now there is no GST on liquor but it is estimated that may be price of beer will rise soon but liquor is exempted from GST.


  • “We have to register ourselves with GST at each and every location we operate in. Our input materials at present attract excise duty, sales tax, VAT at between 12 per cent and 15 per cent, whereas under GST, this is likely to be at 18 per cent. So, there is a clear increase in tax on most of input materials by between 3 per cent and 6 per cent,” Ramamurthy said.



  • This was also said that most of the time bottles used are second hand bottles means there be no tax as the bottles not comes from the manufacturers or factories,it comes from local as sales tax must be attracted that should be discussed in a meeting of GST council.



  • “Today freight is subject to service tax at full 15 percent, what it is now. Tomorrow it will become 18 per cent. There is a big impact. We estimate that the impact on United Breweries could be anything between Rs 100-160 crore depending on how it pans out,” he said.

As a conclusion lets hope for the best but still there is no GST on liquor at present but in future the change will implemented on all of the liquor business.

शराब पर जीएसटी का प्रभाव: सर्वश्रेष्ठ जीएसटी सॉफ़्टवेयर

Some GST related software in the market available choose according to your business from here:

GST BILLING SOFTWARE                   GST RETAIL SOFTWARE


GST ACCOUNTING SOFTWARE        BEST GST SOFTWARE

GST INVENTORY SOFTWARE        GST TRANSPORT SOFTWARE

GST EFFECTS ON RENT, RENTAL PROPERTY AND RENTAL INCOME IN INDIA: BEST GST SOFTWARE

Here comes the rental property part that everyone asking us,first thing you have to know that GST slabs comes on 20 lakh  annul income if you have such a income than you must know the effects on your rental business.



In GST all rental services like property rent, cab on rent comes all together. Step by step here we explain all rental business in details here below:


  • GST On Renting of Unmovable Property:  As renting properties like house on rent/lease, flat on rent or lease, all come together as a service in GST. Before GST the tax rate here on this be 15 % as a service tax but in GST it goes up to 18 %. Important note is that GST will be applied for those property that are being used for business purpose not for residence purpose.
  • The properties that are owned by registered religious trust or any other religious place are exempted from GST only if::::
  1. The rent on rooms on such a property is not more than 1000 rs per day.
  2. The rent of shops and other similar places is not more than 10000 rs per month.
  3. The rent of the community halls or other open spaces is not more than 10000 per day.
  • Now for all other rented properties GST is 18 % implemented.
  • Renting a cab, taxi services is exempted from GST no tax have to be paid for this.
Now the conclusion here comes as those use rent as business have to pay 18% tax if their annual income is 20 lakh per annum or above and for all kinds of taxi services,cars on rent there is no  GST.

भारत में किराए की संपत्ति और किराए पर आय, पर जीएसटी का प्रभाव: सर्वश्रेष्ठ जीएसटी सॉफ़्टवेयर

Checkout our some other related posts

GST EFFECTS ON ELECTRONICS INDUSTRY IN INDIA: BEST GST SOFTWARE

GST EFFECTS ON ELECTRONICS INDUSTRY IN INDIA: BEST GST SOFTWARE

In electronic household electronics items comes in many ways like AC, COOLER, TV, FRIDGE. WASHING MACHINE so many items here that comes for all consumers and also for customers. Now it is important to know the effect of GST on electronics industry so that the prices goes up and down both we can understand easily. In this article we explain all of this in detail:

http://www.ssstp.com/retail-software.php

PERCENTAGE OF GST ON ELECTRONICS ITEMS:  This percentage is bit higher than the previous one as like before GST there are certain tax reforms on electronics items like VAT around 11-12.5%, excise duty also implemented as 12.5% that comes total average 25 to 26% but with GST it goes up 28% as GST on luxury items be 28%.


  • Now as increased in GST tax rate compared to previous one price range also increases in market for electronic items but to make it on the competition many firms provide less discount and their margins but make the price similar to sale more.
  • All the salers gets benefit as to claim input tax credit on their purchase so it is not bad but the prices also not goes up as win situation for all here.
  • In mumbai manufacturers have to pay one additional extra tax octroi about 5% with the other taxes on average 25 to 26 % and with octroi it goes up but with GST it is only 28% hence all have to pay less tax there and gain more margin.
  • But we can say that now GST is only in the initial stage here not on full swing, govt trying to make changes in all kinds of percentage of tax to make sure that people of India get more and more benefit from it and also prices goes down.
As from this article it is concluded that revise in the prices of GST make very good impact on prices of electronics products and benefit to common man.

जीएसटी का भारत के इलेक्ट्रॉनिक्स उद्योग पर प्रभाव: सर्वश्रेष्ठ जीएसटी सॉफ्टवेयर

Some Business Software with GST implementation here listed choose as according to your business from here:

BEST RETAIL SOFTWARE                                                ONLINE ACCOUNTING SOFTWARE

BEST INVENTORY SOFTWARE                                      BEST TRANSPORT SOFTWARE

BEST BILLING SOFTWARE                                            ONLINE GST SOFTWARE
Book a free demo now call to book a demo:

Friday, 8 December 2017

GST EFFECTS ON AUTOMOBILE SECTOR: BEST GST SOFTWARE

Biggest sector in India Automobile Sector multitude of taxes were applicable on this sector like, road tax, sales tax, motor-vehicle tax, VAT, registration duty etc., which have now all been subsumed by GST. Here are the main key points of GST effects on automobile sector:


http://www.ssstp.com/retail-software.php


  • First effect is on the supply chain as there is no other tax for supply chain so it directly effects on automobile prices in India.
  • Also with GST there is no need to use the warehouses in multiple states by the companies so that also surely effect on the price of automobile sector prices.
  • Now dealers should be responsible for supply as they have the GST and they have to pay their taxes on their work basis.
TWO WHEELER S:  Effects on two wheeler's is that those have engine less than 350 cc or have 350 cc engine pay 28% of tax, and those have above 350 cc engine have to pay 31% of tax.

COMMERCIAL VEHICLES: As previous tax on commercial vehicles is around 31% but now it is only 28% irrespective of the mini buses have 13 passengers seats GST on them is 43% now.

PERSONAL VEHICLES: To know about the cars prices and GST onto them read our blog post:

GST EFFECTS ON CAR PRICES: BEST GST SOFTWARE



Now it is clear from the above topic discussion GST effect is positive no so negative many automobile vehicles become cheaper because of GST.


ऑटोमोटिव सेक्टर पर जीएसटी का प्रभाव: सर्वश्रेष्ठ जीएसटी सॉफ़्टवेयर

Some of the software for GST are listed here:

GST BILLING SOFTWARE                                                      GST ACCOUNTING SOFTWARE


GST RETAIL SOFTWARE                                                        GST INVENTORY SOFTWARE



BEST GST SOFTWARE                                                            GST TRANSPORT SOFTWARE


GST EFFECTS ON CONSTRUCTION INDUSTRY:BEST GST SOFTWARE

As the growing sector construction industry every one knows about it here in this post we explain to all about what are the effects of GST on construction industry explained below:

http://www.ssstp.com/accounting-software.php


NO CORRUPTION: In this industry lot of people engaged into black money but GST is the answer for all that it gives transparency to this industry. GST regime causes everyone to register and provide the proper information about the work with tax details this effects on construction industry and transparency increases.

COMPLIANCE: As the removal of other tax structures makes way for easier transfer of goods across the states and make it even more better than the older tax structure.

REMOVAL OF DOUBLE TAXATION: No this GST regime eliminate other taxes hence here is total removal of double taxation from the whole structure of tax.

STAMP DUTY AND REGISTRATION: GST not subsume stamp duty and also there is no charge for registration. But previous there are charges also VAT and service tax implemented that will changed totally with GST.

It is clear that GST now make the positive changes here also full transparency,also removal of unwanted paper work totally removed from here.

निर्माण उद्योग पर जीएसटी का प्रभाव: सर्वश्रेष्ठ जीएसटी सॉफ़्टवेयर

Some of the best software with gst are listed here below:

Best GST Software                                                                        Best Billing Software

Best Accounting Software                                                             Best Retail Software

Best Inventory Software                                                                Best Transport Software 

GST EFFECTS ON READY MADE GARMENTS IN INDIA: BEST GST SOFTWARE

Now in this blog post we explain the GST effects on ready made garments in india how the gst make changes in the prices of the products her...