GST accounting Entries

Refer the following video to know about how to do GST entries in Tally software. The video is enough to solve the problem related GST accounting Entries

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6 Reasons you need not fear GST

The goods and services tax (GST) is set for a July 1 launch. While businesses have adjustments to make, consumers do not have much to worry about, apart from some possible disruption in supply. ET explains ....

1) MANY RATES

Pundits say multiple rates have distorted GST, but consumers are gainers 

WHAT IT MEANS...GST rates will be as close as possible to earlier effective rates

2) NO REVENUE GAIN FOR GOVTThe government expects a net revenue loss from GST. Increased compliance could make up for this

WHAT IT MEANS ...On the whole, tax incidence will go down for the consumer

3) EXEMPT GOODS

Items and aam aadmi goods exempt or pegged at lower rates

WHAT IT MEANS ...The common consumption basket is not likely to get any more expensive

4) SERVICE TAX RATE UP BUT EFFECTIVE TAX LOWER Service tax rate will be higher under GST, but service providers will also get input tax credit for VAT and cascading of taxes will disappear

WHAT IT MEANS.... Even if rates are higher, end prices for consumers may not go up

5) STABLE RATES

Neither the Centre nor states will be able to raise rates easily

WHAT IT MEANS.... Tax rates will remain stable

6) BIG BROTHER WILL BE WATCHING

An antiprofiteering body is being set up

WHAT IT MEANS.... If any business does not pass on benefits of lower taxes to consumers, it can get into trouble

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Hockey World League Semi-Final: India humble Pakistan 6-1

Hockey World League Semi-Final: India humble Pakistan 6-1

LONDON: The Indian hockey team continued its domination of arch-foes Pakistan, handing them a 6-1 thrashing in a 5th-8th place classification match of the Hero Hockey World League Semi-Final here on Saturday.

Ramandeep Singh celebrates after scoring against Pakistan. (Getty Images)

Goals by Ramandeep Singh (8', 8'), Talwinder Singh (25'),Mandeep ingh(27', 59'), Harmanpreet Singh (36') elped India decimate Pakistan and set up a clash with Canada in the 5th-6th pace playoff.

The result dented Pakistan's hopes of booking a berth to participate at the Hockey World Cup to be held in Bhubaneswar next year.

India displayed good attack right from the start with their first real shot on goal coming as early as the opening minute when Ramandeep Singh set up one for an unmarked Akashdeep Singh in the circle.

But Akashdeep could not make a powerful connection to put the ball past Pakistan goalkeeper Amjad Ali.

Mandeep, meanwhile, helped India win their first Penalty Corner in the sixth minute but Harmanpreet Singh's flick was defended well by Pakistan.

Soon after, India were seen putting pressure on Pakistan, interrupting their counter-attack cornering Pakistan player with a three-man defence.

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Addhar Linking with the Land Records

Fake News of Addhar Linking with the Land Records

Recently a news regarding the linking of Aadhar card with the Land Records struck the social media and had become viral on Whatsapp. The Photo went viral spreading wrong news. According to the Times Of India article dated 19th June, 2017 the photo was declared as fake by The Government of India and has clarified that no such orders had been issued.  Here is the complete news from the Times of India: 

NEW DELHI: The government on Monday clarified that a letter attributed to the Cabinet Secretariat on digitalisation of land records and subsequent linking of land records to Aadhaar is completely fake and mischievous.

The said letter is being widely circulated in some sections of social media.

The government of India has clarified that it has issued no such letter.A police complaint has been filed in this regard and the matter is being investigated. 

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