How self-employed professionals, entrepreneurs, SMEs can get ready for GST

THE ECONOMIC TIMES Tue, Jun 06, 2017 | 06:33 AM IST ET Wealth Newsletter

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How self-employed professionals, entrepreneurs, SMEs can get ready for GST One of the biggest tax reforms comes into effect next month but many small businesses, entrepreneurs and self-employed professionals are not prepared. Here's how your business needs to change for GST All GST compliance will be paperless. GST returns will have to be filed online. Therefore, it will be beneficial to move to an electronic system of record keeping. How credit rating downgrade of companies impacts your investments and what to do A ratings downgrade is an alarm bell. You need to wake up and take corrective action. However, do not worry if there's just been one downgrade. From our Partners Aditya Birla Health Insurance – Seeing The Big Picture A thoughtfully created product from the trusted Aditya Birla Group, Aditya Birla Health Insurance goes a step ahead to offer "Health Assurance." From our Partners All you must know about GST Find Special Coverage on GST Bill, GST impact on SME sector, Challenges for GST, How to register for GST and More. Everything you need to know about GST Bill Why retail investors are shifting to liquid mutual funds Liquid funds are a good option to park your surplus funds in. They offer higher liquidity and better returns and are also low risk. Why value mutual funds are a good bet in current soaring stock market Value funds focus on stocks that are either priced at a discount or at a price that does not reflect their true worth. Plus and minus points of payment banks Payment banks offer enhanced services compared to a digital wallet but are not in the same league as the traditional banks. GST view: Don't link input credit to tax payment by supplier Invoice matching can effectively avoid fraud claims. So why does the GST insist on linking input credit to the payment of tax by the supplier? From our Partners We create 100% indigenous power solutions, says Yoshiaki Inayama, Managing Director, Toshiba JSW Power Systems Pvt. Ltd Electricity is one of the basic constituents for the economic growth of a country and as you said there are various initiatives taken in the country in the past few years to improve the power situation. From our Partners Samsung QLED TV - A Stunningly Brilliant Masterpiece The QLED TV's advanced HDR 1500 functionality allows users to see every hidden detail as it was meant to be seen, with no loss or distortion of color.

Financial Calculators Tax Impact Calculator This tax calculator will help you estimate your tax liability. Just input your personal income details and know how much you would be liable to pay. Home Loan Refinance Should you refinance your home loan? Use this calculator to find out if it is worthwhile to shift your home loan to another bank? Just enter the data and click next. It's that easy. More Calculators

Is fear of layoffs real? Here's what ET Job Disruption survey says Survey reveals that 65% of the participants see new tech replacing workers in the future while 38% believes that their job is going to vanish due to emerging tech. How equity SIPs can turn your income stream into a pile of capital Boiled down to the basics, there are only two ways of investing money- either you can lend it to someone, or you can own your own business. What makes Emotional Quotient important for career growth People with average intelligence routinely outperform smarter people at work and end up as successful leaders because of higher Emotional Quotient. Real estate outlook: Wait and watch for next 6 months, says survey Western zone is the most optimistic. Offices face slack supply, continued demand. There is optimism for the future, but the sentiment has dipped over last year. L&T India Special Situations Fund: Has outperformed Index over long term In a time horizon of 10 years, the fund with a return of 12.67% has outperformed both the benchmark (8.95%) and the category average (11.78%). Stock Pick of the Week: Why NBFC Capital First is analysts top pick The company has focused on high growth, high-yield segments such as consumer durables, two-wheeler loans, among others, resulting in healthy margin growth. Tax Optimizer: How salaried Jasti can cut his tax by Rs 1 Lakh If Mahesh Jasti gets more tax-free perks and invests more for retirement in the NPS, his tax can come down by more than Rs 1 lakh. Smart things to know about buying resale property The buyer must use the services of a legal expert or a lawyer to check if the documents pertaining to the resale of the property are in order. GST may initially be a complex tax mechanism to navigate: Vishal Kapoor, IDFC AMC "Although the expectation was that several sectors would benefit from lower GST rates, the reality may be a bit more nuanced." How to claim EPF online using Aadhaar The EPFO has now introduced an online facility to process the withdrawal claim, which seeks to bring down the processing time. Financial advice that retirees should ignore A retiree should also avoid any 'hot' stock tips that he may have heard about on the news, the radio or from a friend with little or no investing experience. GST will help revive earnings: Andrew Holland, Avendus Capital Alternate Strategies "At the domestic end, the GST is a theme we like. After many years, we are bullish on FMCGs again because GST is going to be game changer for this sector." Learn to rent out assets to derive full value Our sense of ownership often prevents us from enjoying the potential returns an asset could earn. It's time we changed the way we look at what we own. Family Finance: Aggressive saving, investing to help Delhi-based Asthanas meet goals The couple has six traditional insurance plans, two term plans and two Ulips. They should close the Ulips and two of the traditional plans. Startup HomeLane offers you customised modular home design solutions HomeLane offers customised modular home design solutions, seeks to organise the home interiors industry and make designing homes less cumbersome for homebuyers. Alternative investment returns monitor: For the week ending May 31, 2017 The scope and attractiveness of alternative investments is increasing. Here's a weekly tracker of returns from such investments.

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