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DIFFERENCE BETWEEN MONOPOLY AND MONOPOLISTIC COMPETITION MONOPOLY The word monopoly has been derived from the combination of two words i.e., ‘Mono’ and ‘Poly’. Mono refers to a single and poly to control. In this way, monopoly refers to a market situation in which there is only one seller of a commodity. There are no close…
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PRODUCT DIFFERENTIATION STRATEGY In this post you will learn about Product differentiation strategy under Monopolistic competition Product differentiation is the means used by a firm in a monopolistic competitive market with many firms selling similar products to differentiate its product from that of other firms. Product Differentiation strategy is adopted to capture more market share…
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MONOPOLISTIC COMPETITION The concept of monopolistic competition was put-forth by an American economist Prof. E.H. Chamberlin in his popular book, “The Theory of Monopolistic Competition” published in 1933. Monopolistic competition is a type of imperfect competition market structure in which a large number of firms produce differentiated products and there are no barriers to entry. ACCORDING…
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GST PORTAL GST Portal or government GST portal is hosted at https://www.gst.gov.in/. GST login portal is a website where all the compliance activities of GST can be done. Activities such as the GST registration, return filing, payment of taxes, application for refund, etc. can be done on the GST login Portal. HOW TO REGISTER ON GST PORTAL? Visit the…
GST SUVIDHA PROVIDER GSP stands for GST Suvidha Provider. GST Suvidha Providers are the special entities who have been authorized to develop a platform to enable the taxpayer to do the GST compliances. A GSP enables a GST taxpayer to comply with all the procedural provisions of the GST law through its web platform. A…
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GST NETWORK GSTN stands for Goods and Service Tax Network (GST Network). It is a non-profit, non-government company jointly promoted by central and state governments. This organization is responsible for providing shared IT, infrastructure and services to central and state governments, taxpayers and other stakeholders. All the front – end activities carried out by a…
GST RETURNS GST RETURN MEANING GST Return is a document containing details of income which a taxpayer is required to file with the tax administrative authorities. This is used by tax authorities to calculate tax liability. Under GST, a registered dealer has to file GST returns that include: Purchases Sales Output GST (On sales) Input tax credit (GST paid…
E WAY BILL IN GST E Way Bill in GST is an Electronic Way bill for movement of goods to be generated on the eWay Bill Portal. A GST registered person cannot transport goods in a vehicle whose value exceeds Rs. 50,000 (Single Invoice/bill/delivery challan) without an e-way bill that is generated on ewaybillgst.gov.in. Alternatively, E-way…
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SUPPLEMENTARY INVOICE IN GST Supplementary invoice in GST is a type of invoice that is issued by a taxable person in case where any deficiency is found in a tax invoice already issued by a taxable person. It can be in form of a debit note or a credit note. According to the GST Act,…
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REVISED INVOICE IN GST Under GST, all the taxable dealers will have to apply for provisional registration and carry out all the formalities post which they will get the permanent registration certificate. For all the invoices issued between the period – Date of implementation of GST Date of issue of Registration certificate The dealers will…
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