GST Composition Scheme - Page 5

Supply of goods or services for ‘setting up of network’ is Composite supply

In re Sterlite Technologies Limited. (GST AAR Maharashtra)

The supply of goods or services for 'setting up of network' would qualify as a Composite supply of works contract as defined in clause (119) of section 2 of the Central Goods and Services Tax Act, 2017....

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Increased GST Composition limit- To go for it or not: Cost Benefit Analysis

From 1/4/2019, turnover Limit for eligibility under Composition Scheme for Goods has been increased. The limit of annual turnover in the preceding financial year for composition option is increased from Rs. 1 crore to 1.5 crore....

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New GST Composition schemes for Service Providers- Actually New or Just another Tax Rate?

On 07-03-2019 government introduced a new GST Composition scheme by Notification No. 02/2019 of CGST (rate) 2017 with a new rate for the service sector. This notification is effective from 1.4.2019....

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Provisions of GST Effective From 1st April 2019

Article discusses changes in 1. GST Provisions related to Threshold Limit for Registration in case of goods , Services and Both Goods & Services 2. Changes in GST Composition Scheme 3. Supply with or without consideration – treated as supply under GST, Changes in TCS Provisions and 4. Proposed New GST Return Formats....

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Comparison of Composition Schemes Under GST (From 1-4-2019 )

We  had COMPOSITION scheme for GOODS manufacturer or trader  – at 1% . Also we already had COMPOSITION scheme for RESTAURANT SERVICE supplier – at 5%. Now we have , COMPOSITION SCHEME FOR SERVICE PROVIDER   OR   GOODS + SERVICE PROVIDER –  at 6%  for First 50 lacs w.e.f. 01-04-2019. Notification No. 2/2019-Centra...

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Composition Scheme for Service Providers w.e.f. 01/04/2019

In view of notification No. 2/2019 – Central Tax (Rate) dated 07/03/2019, the Central Government, on the recommendations of the Council, has notified Composition Scheme for Service provider which can be opted from 01/04/2019. Previously, service providers are kept out of ambit of composition scheme u/s 10(1) of CGST Act. A. Description ...

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Composition Scheme for Services under GST wef 01.04.2019

Composition Scheme for Services under GST Effective from 1st April,2019 – Notification No. 2/2019-Central Tax (Rate) dated 7th March, 2019 1) Description of supply First supplies of goods or services or both upto an aggregate turnover of fifty lakh rupees made on or after the 1st day of April in any financial year, by a […]...

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GST: Decrease In Turnover Limit for Composition Levy In Uttarakhand

DECREASE IN TURNOVER LIMIT FOR COMPOSITION LEVY IN THE STATE OF UTTARAKHAND Composition Turnover Limit with Effect from 1 April 2019 CBIC has recently issued Notification No. 14/2019- Central Tax; Dated: 7 March 2019 to give effect to the decision to increase turnover limit for composition scheme to Rs  1.5 crores. However for special ca...

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GST Notifications Implementing 32nd GST Council meeting decisions

GST Notifications dated 7th Mar, 2019 – Implementation of decisions of 32nd GST Council meeting held on 10th January, 2019,  which will be be effective from 1st April, 2019- a) Higher Exemption Threshold Limit for Supplier of Goods (Notification No. 10/2019 – Central Tax, dated the 7th of March, 2019) : There would be two Thresh...

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GST Composition Scheme limit enhanced to Rs. 1.5 cr w.e.f. 01-04-2019

Notification No. 14/2019 –Central Tax [G.S.R. 196(E)] (07/03/2019)

Notification No. 14/2019 – Central Tax- Seeks to supersede notification No. 08/2017 – Central Tax dated 27.06.2017 in order to extend the limit of threshold of aggregate turnover for availing Composition Scheme u/s 10 of the CGST Act, 2017 to Rs. 1.5 crores. Threshold Limit Composition Scheme (Effective from 1st April, 2019) Thres...

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