Mobile Payment System

 Hey Guys,

Domestic Money Transfer Services (IMPS) Transfer money to any bank account, anywhere in India, at any time! ... It enables walk -in customers even without a bank account from place of transfer, to transfer funds to any bank account anywhere in India

Domestic Money Transfer

IMPS	NEFT
Maximum Limit Per Sender Per Transaction is Rs 5,000	Maximum Limit Per Sender Per Transaction is Rs 25,000
Maximum Limit Per Sender Per Month Rs 10,000 without KYC and with KYC Rs 25,000	Maximum Limit Per Sender Per Month Rs 25,000 without KYC and with KYC Rs 50,000
Payment Settles within 5-10 Seconds	Payment is processing as batch wise and requires 2-8 hours to settle
Payment can send 24 x 7	Payment can be send only on working days and hours of RBI
Supports only IMPS supported banks.	Supports all banks in India

 

Business Impact & Benefits of GST

Business Impact
The most visible impact of the GST levy is on the manufacturing and services sector where the entire value chain of operations, namely procurement, manufacturing, distribution, warehousing, sales, and pricing involve different stakeholders who at various levels draw some benefits from their handling of the good or service.
The GST regime aims to levy appropriate taxes on each level of the value chain of operations according to the benefits acquired or value added to the good or service by that stakeholder. As such, the total Tax on any goods or services is levied by the government is distributed in an equitable manner among the various stakeholders and the end consumer is hence not burdened with the total tax.

Benefits of the GST

GST promises to be a more efficient tax system, which is more equitable in its application and attractive in distribution.
The advantages of GST are:

• Wider tax base, necessary for lowering the tax rates and eliminating classification disputes
  
• Elimination of multiplicity of taxes and their cascading effects
  
• Rationalization of tax structure and simplification of compliance procedures
  
• Harmonization of centre and State tax administrations, which would reduce duplication and compliance costs
  
• Automation of compliance procedures to reduce errors and increase efficiency
  

GST would replace most indirect taxes currently in place such as:

Central Taxes	State Taxes
Central Excise Duty [including additional excise duties, excise duty under the Medicinal and Toilet Preparations (Excise Duties) Act, 1955] Service tax Additional Customs Duty (CVD) Special Additional Duty of Customs (SAD) Central Sales Tax ( levied by the Centre and collected by the States) Central surcharges and cesses ( relating to  supply of goods and services)	Value Added Tax Octroi and Entry Tax Purchase Tax Luxury Tax Taxes on lottery, betting & gambling State cesses and surcharges Entertainment tax (other than the tax levied by the local bodies) Central Sales Tax (levied by the Centre and collected by the States)