What is the Impact of GST on Retail Sale Traders
The details about Impact of GST on Retail Sale Traders are explained here.
Impact of GST on Retail Sale Traders
Under the current indirect tax regime, Retailers and retailers normally escape the tax liability as there is no mechanism by which their actual purchase and sale can be traced. Many of their transactions are done in black, meaning no invoice is issued to the buyer, and eventually no entry is posted in the books for such sales.
These taxpayers usually leverage the tax liability evaded and undercut the market to gain in volume. Their margin of profit remains as low as 1 percent. Since under the GST regime, every invoice pertaining to taxable supply has to be uploaded on GSTN’s common portal and has to be accepted by the buyer, Retailers and retailers will now be unable to escape their tax liability. The only possibility for tax evasion would arise if the entire supply chain is outside the tax network and did not file a return under GST law, which is very unlikely.
The information provided here is about Impact of GST on Retail Sale Traders. If you would you like to add more information about Impact of GST on Retail Sale Traders, share below your thoughts.
Learn Exports Imports Free, Click here
Click here to know GST rate of your goods or service
GST and e-Commerce Business, FAQ
Definition of E-Commerce under GST
TDS under GST, Frequently Asked Questions
Does Interest attract on GST Tax payment delay?
Mechanism of Payment of GST tax in India
Levy of late fee for GST Tax returns filing in India
Notice to GST return filing defaulters
When to file Annual Return of GST online?
Procedures to claim reduction in output tax liability of GST in India
Procedures to claim Input Tax Credit under GST in India
When to file first Return of GST tax in India?
GST Tax returns filing – Who, How and When?
How is time of supply accounted under GST Tax Calculation
Valuation of GST under special cases
Valuation of GST Taxable supply
Term SGST under GST
What is apportionment of tax and settlement of funds under GST
What is Settlement Commission under GST
Term Separate registration for multiple business under GST
Meaning of term Self Assessed Tax under GST
What is Scrutiny of returns under GST
Meaning of GST Practitioner
Term Revenue neutral rate (RNR) under GST
Term Revocation of cancellation of registration under GST
How to surrender ‘HBL’ House Bill of Lading
How transshipment bill of lading works?
Is letter of credit safe mode of payment?
IGM amendment (Import General Manifest Amendment)
Import clearance under high sea sales
Import customs clearance procedures
Import General Manifest (IGM)
Importance of Bill of Lading
Introduction to this web site.
Is Airway bill a documents of title?
Is Customs House Agents (CHA ) required to be appointed mandatory?
How to export from Croatia?
How to Import to Croatia?
How to import to India from Croatia?
How to export from India to Croatia?
Documents required for Export from Croatia
Customs procedures for Croatia Export
Registration required to export from Croatia
Documents needed for Croatia import