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A Short History Of The Major Tax Reforms In Independent India

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One of the major tax reforms introduced by the present government in independent India has been the Goods and Services Tax or GST. The reason for the introduction of GST was to streamline the existing system of indirect taxes which are imposed when goods and services are sold. It is applied at a flat rate according to the category the goods and services are part of.

Why Was GST Required?

Before GST, there were separate tax laws for the central and state governments regarding indirect taxes. While taxes related to manufacturing were levied by the centre, the state would levy taxes on the sale of goods and services.

The centre levied Central Sales Tax and Service Tax along with customs duty on imported goods. Special additional Duty and Countervailing Duty came under customs duty. Other taxes include sales tax, VAT, and excise duties.

GST is collected by both the centre and the state. Since GST is concurrently under the jurisdiction of the centre and the state, the way GST operates is jointly undertaken by them.

Tracing the History of GST

The initiative to introduce GST in India began in the year 2000 when Atal Bihari Vajpayee was the Prime Minister of India. The various challenges being faced by the central and state government in terms of inter-state taxation of supplies and services were discussed.

The advantages of GST over the present tax structure was emphasized in 2004. The implementation of GST for providing uniformity in the production-distribution value chain was one of the primary goals of the government in February 2005, and this was part of the 2005-06 budget discussion.

April 1, 2010, was finalized as the date for the introduction of GST in February 2006. In November 2006, it was mentioned that preparations for GST needed to be made by the states.

April 1, 2010, was still the deadline in the 2007-2008 Union Budget in February 2007. The basic framework for GST was laid out in July 2009 with the deadline still being April 1, 2010.

A first discussion paper was brought out for discussion by all the stakeholders involved in November 2009 to find out if there were any differences of opinion. The original deadline could not be met in 2010 due to the computerization of commercial taxes in all states.

The bill meets with opposition from various states from 2011 to 2014. A new deadline was set in February 2015 as of April 1, 2016. Finally, in 2017, there were four bills relating to GST that became an Act. They were Central GST Bill, Integrated GST Bill, Union Territory GST Bill, and GST (Compensation to States) Bill.

The GST Bill came into force on July 1, 2017.

Tax Implications of Selling an Online Business in the US - Empire ...

Tax Implications After Introduction of GST

Here are the changes in the tax rates and other charges after GST was introduced:

Different Tax Rates

In its final form, four different tax rates were decided under GST. These rates would be 5%, 12%, 18%, and 28%. Certain categories of goods and services were tax-exempt.

Luxury goods would attract a tax of 28% with cess.

The state was entrusted with administrative powers relating to tax when it came to 90% of taxpayers with a turnover under Rs. 1.5 crores and the remaining 10% control would be under Central Government.

Where the turnover was over Rs. 1.5 crores, the Center and State would share the administrative control equally.

One of the categories of goods and services to be taxed under the new regime was real estate. When it comes to gst on commercial property, there has been a significant change from the pre-GST era.

Before the GST regime, if the rental income for all property, residential and commercial, was over Rs. 10 lacs, then service tax registration was mandatory for the landlord. If you owned residential property and rented it out for commercial purposes, it would be classified as commercial property. The service tax is calculated as 15% of the total rent being charged. If you rented your property for residential purposes, you were exempt from service tax.

After the implementation of GST, rental for immovable property is considered as supply of services. Whether you rent out your property for commercial or industrial property, GST is applicable.

GST for commercial property is 18%, and the supply of service should be valued over Rs. 20 lacs as opposed to Rs. 10 lacs earlier to be chargeable to GST. Religious and charitable organizations are exempt from GST.

You can claim an income tax credit against GST paid on the rent for commercial property. There will 10% TDS or tax deducted at source on the rent you receive for your commercial property.

Advantages and Disadvantages of GST

Just like any other reform, there are pros and cons of gst. These are mentioned below:

Advantages of GST

  1. Removes cascading effect: Under the old indirect tax policy, there was no relief for VAT or value-added tax paid to vendors. This could not be set off against service tax paid for income earned.
  2. Higher Registration Limit: If your annual turnover was under Rs. 10 lacs, you would be exempt from service tax. Under GST, the exemption limit has been raised to Rs. 20 lacs. This comes as a relief for small traders.
  3. Composition Scheme: Under this scheme, you pay GST at a single fixed rate. This has made return filing easier.
  4. Easier compliance: It is easier to comply with GST as there is a consolidated return to be filed unlike Excise, Service Tax, and VAT.

Disadvantages of GST

  1. Software Costs: There are high costs involved with the purchase of GST software and employee training costs.
  2. Compliance Process: Small businesses find it difficult to change over to GST quickly as it involves having the right invoices, digital records, and filing returns on time.
  3. Employing Professionals: Tax professionals who understand GST have to be employed increasing the overheads.

Benefit From Adopting GST

When you adopt GST for your business, you streamline your operations and ensure that you gain by setting off GST paid to vendors against GST paid for services rendered. Small businesses with a turnover below Rs. 20 lacs annually are exempted from GST. Switch to GST and watch your business grow!

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From Job Seeker to Job Creator, Entrepreneur Hari Soni is a man of substance

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Hari Soni is a name in the business world who believes not in telling everyone his plans, instead of showing them the results. A sheer professional, who dared to leave her shining career for living his dreams of an entrepreneur, is an example today for hundreds of budding businessmen.

After completing his education from the Rajasthan University, Hari Soni joined a multinational company Genpact. His sharp business skills and sheer dedication helped the company reaching new heights.

Despite having a clear mind of doing his own business, Hari Soni gave himself more time to settle down in the industry. He joined another giant Aircel Ltd and gave his six years. The trust between him and the company was commendable and he was awarded many times with the employee of the month and year award.

From Job Seeker to Job Creator, Entrepreneur Hari Soni is a man of substance

He joined another company but by this time he was prepared to chase his dreams and he floated his own company Kishu Enterprise. After establishing his maiden firm, he launched KKHS Buildhomes Pvt Ltd to cement his foot in the real estate sector. He also launched a new company KKHS Media Pvt Ltd. His aim is to make a name by opening a renowned media house, widely covering all the news publishing platforms, including digital, print and electronic.

A die-hard believer of the line – “Trust the timing of your life”, Hari Soni never takes any decision in a hurry and for the same reason, he is among the top successful entrepreneurs of the present times. He believes in not taking any shortcuts and for the same reason, despite having adequate resources to start his own business, he worked as an employee for years.

When asked about how he decided to shift from a job seeker to a job giver, Hari said, “I was always keen to be my own boss. Not in any egoistic way but I love to follow my own decisions and take full responsibility of what I do. Even when I was doing a job, I never ran away from my responsibilities and my long career of almost 8 years is an example of it.”

Was it tough to shift from job to business, Hari said, “No it was not. Doing business was always in my mind but I just wanted to give myself time. I drilled the industry by remaining in the job and then I started my business. I was, till then, aware of all the challenges of the industry and I was prepared for it.”

Hari Soni stands a perfect example to all those who say that it is not easy for an employee to run his own business. With foolproof planning, honesty and dedication once can reach any horizons he chooses form himself

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Powerful Business Communication Skills for Successful Entrepreneurs

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An Entrepreneur needs to have powerful communication skills to lead business meetings and leads. Most of the businesses need proper skills that can bring some high-paying work opportunities for them. 

No matter if your company is using 0844 numbers or not, these skills are crucial for every business and are able to bring some positive changes in your organization.

Being Polite

A businessman or entrepreneur communicates with different clients, vendors, and customers. It is important to be polite with them to make better relations with the suppliers and consumers of your business.

Successful businessmen always listen to their customer’s feedback and revert with a positive and polite reply. 

Note: Being polite is not just about the tone of voice as your actions also reflect your politeness.

Clarity

The clarity in voice and message is the most important part of good communication. It allows both parties to understand the motive of communication and to proceed to the right decision. We have seen that noise in communication can change the whole meaning of it.

Here, noise is not just the sound as it can also include a lack of attention, credibility, respect, and emotion towards the other person. Hence, the skill of having clarity in your communication is necessary for your business.

Problem-solving Skill

10 Powerful Business Communication Skills for Successful Entrepreneurs

You will be dealing with different problems in the communication of your organization with your customers. Hence, you will need to learn to understand the problems and provide a solution for that.

One of the most common problems that your customers face is the high calling rates of customer support. Another problem can be related to the conflict between your employees or vendors.  An entrepreneur must research these problems and their solutions. 

Note: You can solve your calling rate charge problem with WeNumber that provides affordable 0844 numbers for organizations. Additionally, You can find out what are 0844 numbers on their official website. 

Negotiation 

Being able to negotiate is the best communication skill you can learn for your business. It includes convincing the other person to accept the offer with your terms and conditions. Almost every business needs negotiation skills to compete with this competitive world.

Basic Writing Skill

Communication can be in any form including speaking, writing, and body gestures. That is why writing skill is equally as important as speaking skills. It does not mean that you will need to become a top-notch writer to improve your communication skills.

All you need to do is focus on some basic writing guidelines that can help you professionally connect with your clients. It includes writing emails, updating your website content, and replying to your customer queries.

Convincing Communication Skill

A successful entrepreneur is the one who can convince the organizations to do business with them. Having communication skills that can convince the other party on your point is the best gift one can have. You can learn this skill by improving your word choice and replying manner.

Confidence

Getting the attention of the other person is crucial for every entrepreneur. Having confidence in your communication makes you the leader of the conversation. It will help them understand that you are the right person to provide the service they are looking for.

The confidence can reflect in your voice, body language, and writings too. Thus, mastering this communication skill will let you become an industry leader in a short time.

Presentation And Explaining Skill

An entrepreneur is always leading his team for their goal. In this process, they go through different presentations where they explain the motive behind an action. It is helpful when the organization needs to decide with the help of board meetings.

That is where your presentation and explaining skills will help you lead the meeting. You can use WeNumber to manage your calls, emails, and presentations with your customers. 

Respect

 

Respecting the point of view of the other person helps you create a better business relationship with them. Giving them a sense of friendliness can bring the conversation to your benefit in a minute. 

It is an important skill to learn as most of the customers shift their service provider for the lack of respect. You can simply start by calling them with their name to show that they are just the customers for you. 

Healthy Discussion & Debate

You can have healthy debates with your team and clients to discuss all the pros and cons of a decision. This decision or action can be related to a product, service, policy, agreement, etc.

It refers to a process of understanding what the other person wants to say and replying with your view on the topic. It will allow you to close deals and meetings on a positive note.

Conclusion

Every type of business requires a powerful communication skill when using 0844 as service numbers to close the deals and make the sales for their organization. Hence, these 10 powerful business communication skills for successful entrepreneurs are going to help you with it.

Although every business requires a different set of skills, still you can adapt these in your life to get some amazing results. 

 

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Email checker Review: An ultimate solution for Email Marketing Agencies

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While browsing the internet, you may have come across several websites that ask for your email address. These websites then start sending promotional or spam mails to your email account. These mails can easily fill up your entire mailbox, thus preventing important mails from coming on top of the list. It is a perfect tool for email marketing agencies for cleaning up their email lists and removing spam mail entries.

 

No one likes removing spam emails one by one as it can be a time-consuming job to do. But, you can prevent your mailbox from receiving emails from spam and promotional websites on the internet. Several email verifier platforms are available that offer services for the same.

Introduction: Email Checker

Email Checker is one such service that checks every email address that you receive an email from. It verifies email addresses in real-time using its asynchronous API that returns accurate results quickly.

 

Email verification services are important as they validate email addresses and check them for authority and errors. Almost every brand associated with Ecommerce uses specific email verification services for processing their data.

Features of Email Checker

Aforementioned, EmailChecker is an email verification service that checks whether an email address is valid, authoritative, and legit.

 

In addition to this, the tool also offers some extra features to its users. We have mentioned several features along with a short description for each.

Spam Prevention

Websites that direct a user to spammy websites or web pages often send promotional emails to your email account. These websites try to register your details in their database without your permission. Therefore, there is an utmost need for spam prevention on the internet.

 

Email Checker’s spam-prevention will save your online details by blocking and flagging such spam mails on your account. If you’re an individual and love surfing the web every now and then, then this feature will be a lifesaver for you.

Bulk Checking

If you have a long list of email addresses in your database, then Email Checker is there to help you out. With the bulk batch checking feature, users can upload their list on the tool and start the bulk checker. All the emails are passed through certain validation checks to be flagged as either spam or legit.

Integrated Verification

If you own an e-commerce store on the internet, then you must come across hundreds of fake email addresses daily. Email Checker offers quick and easy API integration to its users. You can integrate their Real-Time API in your source code. The API will then check every email address you receive for authority and validation.

Real-Time Verification

The Real-Time Email Checker API starts the validation process for the emails right away. All the emails you receive in your mailbox are tested for authenticity with the help of multiple validation checks.

 

You can easily integrate the API into your program as you will be provided with the API endpoints. Then, the choice of what should be done with the response is all yours. The API supports many programming languages including Python, PHP, Java, and C.

Customer Service

If you have any doubts or queries related to the tool, then the Email Checker customer support is always there to help you out. Just contact them, notify them of your issue, and you will hear from them in no time.

Affordable Pricing

Pricing is one of the primary aspects of any service. Well, with Email Checker’s customizable plans, you do not need to worry about the cost. The lowest plan costs around 10$ every month. Users with this plan can check and validate 1000 emails.

 

If you have no idea about your usage statistics, then you will be glad to know that Email Checker also offers a Pay as You Go pricing plan. You will be charged for the number of emails you have verified in the given month. It is one of the most used plans to date.

Documentation

For developers and API customers, Email Checker has a thorough documentation that can be understood by anyone with a little experience in the IT industry.

Email checker Review

If you are a programmer, then you won’t face any issues with their API as every feature and function has been explained within their documentation.

Email Checker Validation Checks

As mentioned above, Email Checker verifies emails by passing them through multiple validation checks. For those who have been wondering about these checks, we have mentioned the three tests that every email address is passed through.

Syntax Check

First and foremost, an email address is checked for the correct syntax. This check verifies and corrects syntax errors in the email address if any. These errors include spelling or grammar mistakes in the email, misplaced domain extensions, and more.

Domain Check

After the syntax of the email is fixed, the tool checks the status of the domain extension in the email address. For an email to pass through the domain check, the website must be live at the time of checking. 

Email Ping

At last, Email Checker pings the email address with a test mail which usually consists of an “Extended Hello” or “EHLO”. As soon as the server sends back a response, the email passes the Email Ping Test.

Advantages of Email Checker

Apart from the numerous features that Email Checker offers, users would also experience the various advantages enlisted below.

  • Codes for API Response – The Email Checker API returns various response codes for Bad and Unknown Emails.
  • Yahoo Verification – Users are provided with a Real-Time API with Yahoo Mail.
  • Integrations – For automating tasks and response retrievals, integrating the API with any application is easy.
  • Dashboard – Users have access to a sleek and simple dashboard that provides an amazing user experience.
  • Customer Support – The Email Checker team is always available for your queries and issues.
  • Documentation – The developer team provides a well-described documentation for the API.
  • Bulk API – Users get access to a Bulk Email Checker API that can save your time and resources.

Disadvantages of Email Checker

As every coin has two sides, Email Checker has some cons associated with it. We have mentioned some disadvantages of using the email verification service.

  • The profanity detection feature does not work every time.
  • The Email Checker spam trap might not always work on every email address.
  • The accuracy of the mail validator is not 100%.

Wrapping Up

So that was our take on Email Checker. It is no doubt one of the best email verification services on the internet. With customized plans and affordable pricing, even an individual can get a plan that suits their needs.

 

Email Checker offers several features to their users including Real-Time detection, bulk checking, spam prevention, easy integration, and amazing customer support. Although, there are some disadvantages of the service but overall, it is a top-notch tool for all your email verification needs.

 

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