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...
Taxation system of any kind requires several compliances which need to be adhere by the taxpayers to ensure fulfillment of all statutory provisions. Provisions include timely payment of taxes, filing of returns and maintaining prescribed records are essential for complying under taxation system.
Section 10 of CGST act provides for a simplified composition scheme. This composition scheme would be available for business units whose aggregate turnover of supply of goods in a financial year does not exceed Rs. 75 lakhs. (GST Council meeting on 11-06-2017).
Q.1 What is composition levy under GST? Ans. The composition levy is an alternative method of levy of tax designed for small taxpayers whose turnover is up to Rs. 75 lakhs ( Rs. 50 lakhs in case of few States). The objective of composition scheme is to bring simplicity and to reduce the compliance cost […]
overnor of the National Capital Territory of Delhi, on the recommendations of the Council, hereby prescribes that an eligible registered person, whose aggregate turnover in the preceding financial year did not exceed seventy five lakh rupees, may opt to pay, in lieu of the tax payable by him, an amount calculated at the rate of,––
Before learning the benefits of composition scheme of GST India Online, it’s important to know about it. Under the section 10 of GST law, there is a provision that states only those need to register under the GST composition scheme whose annual business turnover is less than fifty lakhs.
This scheme would be available only to certain eligible taxable persons. This scheme is specifically introduced by government to give relief to the small businessman. The best part of this scheme is that this Scheme will be applicable for all goods however not applicable on Services except restaurant service provider.
Goods and Services Tax is a new system of taxation in which legal formalities for compliance of law are such that a normal registered person has to file monthly return and one annual return at least. The monthly return that is to be filed under GST is also in three different parts, i.e. on three different dates in a month
Any Person whose aggregate turnover (Taxable + Exempted) in preceding financial year did not exceed 75 Lac (50 Lac for special category states), then that person can apply for registration under composition scheme.
There are high provisions under GST for returns, tax payments, and details to be submitted by registered persons which cannot be complied with by small suppliers and manufacturers. A composition scheme under GST has been provided as an option for those small suppliers and manufacturers to pay amount (not tax), in lieu of tax payable in normal levy.
In exercise of the powers conferred by section 164 of the Rajasthan Goods and Services Tax Act, 2017 (Act No. 9 of 2017), the State Government hereby makes the following rules – (1) These rules may be called the Rajasthan Goods and Services Tax Rules, 2017.
