在2019年1月10日举行的第32次GST理事会会议上,为了有益于商品的组合方案(Composition Scheme),使印度中小企业GST组合方案进一步发挥效用,印度政府提高了营业额上限,并将该计划扩大到包括服务提供商的范围。 新规定将于2019年4月1日起生效。 下面,我们将介绍最新的服务GST及服务税构成制度、资格标准以及企业参与的挑战...
Under GST, after registering for the composition scheme, you will be eligible to pay tax at a fixed rate of 1% - 6% of your total turnover. So, for example, if you are a manufacturer of ice cream, tobacco, or pan-masala, you are liable to pay 1 % tax based on your turnover, t...
Composition Scheme GST Payment & Refunds Time, Place & Value of Supply Impact of GST New GST Returns GST Fundamentals E-Invoicing in GST e-Invoicing is a critical aspect of GST. Invoicing practices have been quite an industry-specific. Despite the proprietary ways of preparing invoices, unified...
This means that with GST, you only pay one tax that covers all types of taxes, eliminating the complicated cascading effects of taxes from before. 3. Small Business Composition Scheme Small businesses with turnovers up to Rs.1.5 crore can opt for a composition scheme. Through this scheme, ...
If the turnover of the business exceeds the threshold amount during the financial year, the benefits of the composition scheme cannot be used, and the firm needs to filesimple GST returnsfrom this point onwards. To enable easy compliance under composition scheme, the 32nd GST Council meeting ha...
What are the changes in GST return filing for Composition taxpayers? It is evident that all the citizens who have GST Registration under the Composition Scheme need to file the Form GSTR-4 on a quarterly basis. In this respect, the GST experts have recently presented certain key modifications...
The threshold limit under the composition scheme will also be increased. One of the amendments proposes Rs 2 crore annual turnover eligibility for taxpayers under composition scheme. This would be an increase of 50 lakhs on the present threshold limit. The amendment may also facilitate the supply...
Thus, it can be inferred that where the turnover of a registered person opting for composition scheme is up to Rs 50 Lakhs in the preceding Financial Year, he can supply services (other than restaurant services) up to a maximum value of Rs 5 Lakhs in the current Financial Year. Further ...
Any registered person, other than a person who has opted for composition scheme, has not furnished returns for a continuous period of six months Any person who has taken voluntary registration but has not commenced business within six months from the date of registration ...
GSTR-9A is the Annual GST return that is to be those persons having GST Registration under the composition scheme u/s 10 of CGST Act 2017 whenever amid the financial year. #11. How to determine the threshold limit for turnover of an alcohol supplier? Section 9(1) of CGST/SGST A...