To constitute interstate sales, one of the basic requirement is that there should be sale. If a person sends goods outside from its state to its branch office in another state then it is not sale because you cannot sell goods to yourself. Similarly if a dealer sends goods to its agent in another state who stocks and sells goods on behalf of the dealer, such agent is called consignment agent and such stock transfer is also not considered as interstate sales since there is no sales involved in it, sales will take place when such agent will sell goods. But to prove such stock/branch transfer, F form is required to be produced as proof. » Read more
Those who deposited cash of Rs 2 lakh and more in their accounts during the demonetisation drive will have to make a declaration in their income tax returns for the fiscal year that’s just ended, as a follow up to the government’s efforts to eliminate black money through the note-swap exercise.
With the new GST bill, it is expected that the smartphone prices can go up by 7- 8%. This is going to affect consumers in different ways and the prices will go up depending on the rate of GST.While the new GST rates are not announced yet, but this matter already is a concern for most of the handset makers. It is expected that the GST law may result at the end of concessions currently being offered by different states. But on a positive side, it is expected that it will lead to significant improvement in online sales of the mobile phones.