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2024-04-23T15:38:59.339Z

GST Thread 2 What GST brings along with it - 1. Value added tax and no cascading of taxes - GST is only on the value added by the manufacturer and being a value added tax at each stage it avoids double taxation Example - If I purchase plastic from the manufacturer for ₹100 +10 tax for making bottles. And the expense I did to make bottle from the plastic is ₹70. Then I have to pay 7 as taxes on the 70 valued added. Not on the whole 180(100+10+70) which would have been 18. 2. Continous chain of credit - GST offers Input tax credit (ITC) at each stage for the purchases. In the above example. Total sales- 170+17 taxes wherein 10 would have been available to the seller as credit. Therefore, only 7 will be paid as taxes. 3. GST has subsumed various central taxes(Excise, Service tax, Sales tax,etc) and state taxes (entertainment tax,VAT,Luxury tax, etc). Though there are some indirect taxes which are still levied (Customs, Central excise on tobacco products, 5 petroleum products, etc.

Inactive

Stealth • 4m

How do master entrepreneurs stay ahead of the game? Here’s how: ➡️ Think contrarian. Zoho’s Sridhar Vembu hires from small towns big talents, not top universities with less talent and more brand STAMP ➡️ Prioritize customers. Jeff Bezos says, "I don't care about competition, because they don't pay my bills." ➡️ Niche marketing. Understand and cater to a specific target market's unique needs. ➡️ Innovate constantly. Adapt your business model based on feedback and market shifts. (Don't serve what you want to make, serve what they want to eat) ➡️ Conserve cash. Operate frugally to survive unexpected downturns. ➡️ Collaborate smartly. Form strategic partnerships instead of head-to-head competition. These strategies keep entrepreneurs at the forefront: thoughtful, customer-focused, and adaptable, always finding unique ways to add value LUCAAS is the key! PS: here's a small meme! Happy Wednesday

3 replies7 likes

Replies (3)

Anonymous 2
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Wipro • 4m

Jeff actually does care a lot about his competitors and yes a lot of em also pay his bill, his acquisition strategies have been very aggressive

0 replies

Anonymous 1

Stealth • 4m

Maybe zoho does it because they also have to pay lesser to the small town big talents? 😅😂

1 replies

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