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GST on Healthcare Industry: Impacts & Solutions

WebThe National Health Authority has suggested allowing notional credit for healthcare service providers. GST and Healthcare Products. The GST has categorized …

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URL: https://www.captainbiz.com/blogs/how-gst-has-made-healthcare-more-affordable/

GST on Hospital/Healthcare Services, Pharmaceutical Industry

WebHealth sectors such as hospitals, pharmaceutical companies or medical device manufacturing entities, diagnostics laboratories and others have been affected by …

Category:  Medical Go Health

GST Cess: Type, Calculation Method, Impact on Businesses

WebThe health cess was introduced in 2020-21 by Finance Minister Nirmala Sitharaman in the finance bill. It has a 5% cess on imported medical devices. Legal …

Category:  Medical Go Health

Telangana AAR: 18% GST on Biofertilizers & Herbal Supplements

WebHeart health: Hawthorn, garlic, and olive leaf extract are herbs that may support cardiovascular health by lowering blood pressure, reducing cholesterol levels, …

Category:  Health Go Health

Input Tax Credit (ITC): Eligibility, Claim Process, & Avoid Mistakes

WebInput tax credit can be claimed under GST if a person: Checks the eligibility for claiming ITC. Ensures that the tax invoice or debit note in form GSTR-1 (www.gst.gov.in) …

Category:  Health Go Health

E-Way Bill Exemption: Understanding Compliance & Implications

WebAn electronic document known as an e-way bill is necessary for the transportation of goods inside India valued at more than INR 50,000. The Indian …

Category:  Health Go Health

GST Rate Updates 2024 – Goods and Service Tax Rates

WebThe primary GST slabs for each regular taxpayer are now set at 0% (nil-rated), 5%, 12%, 18%, and 28%. There are a few lesser-used GST rates, including 3% …

Category:  Health Go Health

GST's Social Impact: Tax Reform and Inequality

WebThe consequences of lower funding for health-related programs during a global health emergency demand a thorough assessment of how well-suited the …

Category:  Health Go Health

Financial Planning for MSMEs: Essential Guide for Success

Web21/04/2024. In the rapidly changing environment of micro, small, and medium-sized enterprises (MSMEs), sound financial management is critical to success. Whether you’re …

Category:  Health Go Health

What are the Types of GST Notices & Impact of not Reverting

Web1. GSTR-3A. Non-filers of GST returns in GSTR-1, GSTR-4, GSTR-3B, or GSTR-8 would receive a default notice. File the particular GST Returns, along with late …

Category:  Health Go Health

GST On consultancy Services

WebThe rate of Reverse Charge Mechanism (RCM) for consultant charges in India is 18% under the Goods and Services Tax (GST) system. Under the RCM system, the …

Category:  Health Go Health

GST Registration For NGOs and Trust

WebThe NGO or trust must fill GST Registration Form (GST REG-01) online on the GST portal. The NGO or trust must upload the required documents, such as a PAN …

Category:  Health Go Health

Blocked Credit in GST

WebBusinesses are generally eligible to claim Input Tax Credits for the goods and services they use in their day-to-day operations. However, there are certain …

Category:  Health Go Health

Demystifying GST Exemptions: Impact, Trends & Legal Framework

WebThe exemptions under the GST regime have immense power to shape the economic trajectory of the various sectors and the country as a whole. Exemptions …

Category:  Health Go Health

What are the Different Types of Registrations Under GST

Web8 Types of GST Registrations. In this case, the GST registration in India caters to different entities. The different types of GST registrations are as follows: …

Category:  Health Go Health

What Is the Work Contract HSN Code Under GST

WebHSN Code: Description: GST Rate: 9954f2wf (iii) Composite supply of works contract as defined in clause (119) of Section 2 of the CGST Act, supplied to the Central …

Category:  Health Go Health

What is GSTR-3B and Its Significance Purpose of GSTR 3B Filing

WebGSTR-3B is basically a monthly self-declaration filed by the registered dealer in addition to GSTR-1 and GSTR-2 forms. It is a collective summary of inward and …

Category:  Health Go Health

List of Special Category Status States Under GST In India

WebAmong the criteria for classification as special category states, hilly or difficult terrains, income levels, and other socio-economic factors play a significant role. For …

Category:  Health Go Health

ITC Balance Sheet, Strategic Accounting for Input Tax Credit

WebInput tax credit accounting is the practice of accurately recording and accounting for the ITC claimed on eligible inputs. This includes adherence to accounting …

Category:  Health Go Health

Understanding Accrued Expenses: Debit or Credit

WebProvides a complete picture of the company’s financial health as it considers both earned and incurred amounts, not just cash flow. Provides a more straightforward …

Category:  Health Go Health