Goods and Services Tax : This article explains the composition levy scheme under Section 10 of the CGST Act, including eligibility, tax rates, compliance o...
Goods and Services Tax : The analysis shows that lower tax rates under the composition scheme significantly improve liquidity for startups. This enables re...
Goods and Services Tax : Learn about the GST Composition Scheme for small taxpayers. This guide covers eligibility, tax rates, filing requirements, and key...
Goods and Services Tax : GSTN clarifies GSTR-3A notices sent to cancelled composition taxpayers were due to a system error. Ignore if registration cancelle...
Goods and Services Tax : Understand GST composition for bakeries. Learn if your bakery qualifies as a manufacturer (1% GST) or restaurant (5% GST), impacti...
Goods and Services Tax : While filing Annual Return GSTR-4, if composition taxpayers have deposited excess tax, they will now be able to file for GST refu...
Goods and Services Tax : A memorandum is submitted to Finance Minister on Grievance related to scheme of annual return filing for the composition dealers...
Goods and Services Tax : A representation has been sent to CBIC requesting Waiver of late fees for non- filing of annual return ( GSTR-4) by composition de...
Goods and Services Tax : It is respectfully requested to please provide the benefit of Amnesty Scheme to Composition Dealers and allow them to file GSTR-4 ...
Goods and Services Tax : In view of the challenges faced by taxpayers in meeting the statutory and regulatory compliances under Goods & Services Tax (GST) ...
Goods and Services Tax : The Allahabad High Court dismissed a writ petition from Poddar Electronics Security, upholding tax orders after the company failed...
Goods and Services Tax : In re Pioneer Bakers (GST AAR Odisha) Q. (a)Whether supply of Cakes, bakery items, ice creams, chocolates, drinks and other eatabl...
Goods and Services Tax : Del Small Ice Cream Manufacturers Welfare’s Association (Reg.) Vs Union Of India & Anr (High Court Of Delhi) Hon’ble H...
Goods and Services Tax : Merely exercising option under composite scheme cannot prevent Revenue Department from demanding recovery of GST The Hon’ble And...
Goods and Services Tax : In re Empathic Trading Centre (GST AAR Karnataka) 1. The applicant is eligible to be in the composition scheme under section 10 of...
Goods and Services Tax : GSTN clarifies GSTR-3A notices issued to cancelled composition taxpayers due to a system glitch; corrective action is underway to ...
Goods and Services Tax : CBDT shifts CGST functions to Superintendents of Central Tax. Circular No. 223/17/2024-GST details changes for registration and co...
Goods and Services Tax : Notification No. 50/2023 - Central Tax amends Notification No. 66/2017 to exclude specified actionable claims under CGST Act secti...
Goods and Services Tax : Learn about the new tax procedures for eCommerce operators facilitating goods supplies by composition taxpayers under the CGST Act...
Goods and Services Tax : The government has now decided that the negative balance in the cash ledgers of such taxpayers should be nullified. Accordingly, t...
One such aspect which is observed by many is not able to opt for composition for the Financial Year 2017-18 even though last day to opt for the same in case of Migration cases is 16th August 2017. Few of the latest grievances were as under
Small taxable person supplying goods upto 75 lakhs per annum are eligible for composition scheme. They have to pay GST @ 2% in case of manufacturing & 1% in case of trader & 5% in case of restaurant service.
Manufacturer / Service Provider / Trader whose annual turnover is below Rs. 20 Lakh* need not pay any GST and need not register. Those with annual turnover upto Rs. 75 Lakh can opt for Composition Scheme in which case the tax rates will be as follows
To be, or not to be, that is the question: Whether to get befitted as Composition dealer Or to become a regular taxpayer? To deal with RCM only, to deal with RCM, matching of ITC, tax on advance payment and transition & so on
As we all know that GST regime has also bring the concept of composition scheme for small and medium size trader’s, dealer’s and service provider (specifically for restaurant services).
Taxpayers who were provisionally migrated by virtue of being registered under the existing laws, but who are no longer required to be registered under GST, the period of applying for cancellation of registration is being extended up to 30th September, 2017.
Commissioner of State Tax, Maharashtra State, Mumbai hereby extends the period for filing an intimation in FORM GST CMP-01 upto the 16th August 2017.
1 Whether the person with an annual turnover of less than 75 lakhs on the sale of goods or services in the preceeding financial year in a single state have opt to pay a tax under composition scheme? Conditions: Provided that no such permission shall be granted to a taxable person who effects any inter-State supplies of goods and/or services.
The GST tax system has provided a big relief for those small traders, who trade goods locally and most of them are one man army, who in the course of business procure the goods for sale, do marketing and look after all affairs of their business venture himself. The Central Board of Excise and Customs have issued certain Notifications on 19th June, 2017.
Composition Scheme How do I opt for the Composition Scheme? What are the steps involved in applying to Opt for the Composition Scheme on the GST Portal? To opt for the composition scheme on the GST Portal, perform the following steps: 1. Access the https://www.gst.gov.in/ URL. The GST Home page is displayed. In case of New […]
