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...
The Central Board of Indirect Taxes and Customs (CBIC) has issued notifications under GST Laws to implement certain relief measures in view of outbreak of 2nd Wave of Covid -19 and lockdown in various States. Summary of Compliance Relaxation in GST Regime issued on 1st May, 2021: ♦ No late fees for filing GSTR 3B […]
GST Compliance Due dates as amended by Notifications 9/2021, 12/2021, 13/2021-Central Tax issued by CBIC on 1st May 2021 Due Dates for March 2021 and April 2021 For Part 1 states Due Dates for March 2021 and April 2021 For Part 2 states Turnover > 5crores in preceding financial year Turnover > 5crores in preceding […]
In view of the challenges faced by taxpayers in meeting the statutory and regulatory compliances under Goods & Services Tax (GST) law due to the outbreak of the second wave of COVID-19 pandemic, the Government has issued notifications, all dated 1st May, 2021, providing various relief measures for taxpayers. These measures are explained below:
Amidst the second wave of covid-19 pandemic throughout the country and complete/partial lockdown already in force in most parts of the country, CBIC comes out with another set of midnight notifications to provide relief to the taxpayers for various GST compliance/returns. The relief comes in the form of waiving late fees for certain Certain returns […]
Gist of extension notifications No. 8/2021-Central Tax to 14/2021-Central Tax issued by CBIC on 01.05.2021 by which Relaxation has been provided in respect of Various GST Returns and GST Compliance. 1. Applicable rates of interest (08/2021 – Central Tax): Particulars Months Rate of interest Turnover > 5 crores in Last FY (Monthly Returns) March and […]
Relief Measures announced in GST Compliances In view of spread of pandemic COVID-19 (Issued vide gazette notifications dated 1st May 2021) 1. Waiver of Late Fees for delayed filing of GSTR 3B Return for the month of March & April 2021 [Notification No. 9/2021-CT dated 1st May 2021]: Late fees for delayed filing of GSTR-3B […]
CBIC extends due date for filing GSTR 4 (Annual Return for person opted for Composition Scheme) vide Notification No. 10/2021- Central Tax Dated: 1st May, 2021 to 31st day of May, 2021. Ministry of Finance (Department of Revenue) (Central Board of Indirect Taxes and Customs) New Delhi Notification No. 10/2021- Central Tax Dated: 1st May, […]
What is Composition Scheme in GST? Composition Scheme under GST is a scheme which offers comparatively lesser compliance’s. Small taxpayers can get rid of various GST formalities and can pay GST at a fixed rate of turnover. For fresh registrations under the GST Composition Scheme, an intimation in Form GST REG- 01 must be filed. […]
To give relief to small taxpayers having only intra-state outward supply ,there is composition scheme under GST (even earlier under state VAT law too there was composition scheme) where registered person will not become part of credit chain i.e. cannot take ITC on inward supplies and cannot collect tax from customer on outward supplies. GST […]
Article explains What is Composition Scheme under GST, Who can opt for the Composition Scheme under GST, Who cannot opt for the Composition Scheme under GST, Applicable tax rates under Composition Scheme under GST, Which Returns to be filed by dealer opting Composition Scheme and Miscellaneous Provisions related to GST. 1. What is Composition Scheme […]
