Also, the GSTN first announced and then postponed the 7-day invoice generation limit rule. However, you can read: How 7-day e-invoice generation limit will Impact Your GST Compliance. Apart from that, the 50th
Also, the GSTN first announced and then postponed the 7-day invoice generation limit rule. However, you can read: How 7-day e-invoice generation limit will Impact Your GST Compliance. Apart from that, the 50th GST Council Meeting is most likely to be held in June. You can click the ...
Another concern is about giving permission of composition scheme for service sector because in this sector only quarterly tax payments are done which are based on the turnover that has to be made. There is a fear for officials because this will lead to the misuse and will relent little revenu...
GST Refund Process, Claim and Time Limit Foreign Inward Remittance Certificate (FIRC) Guide Latest Circulars & News Supreme Court’s Dismisses Review in Safari Retreats Case Refund Filing Process for Recipients of Deemed Export GST Refund Filing Process Updates Latest Community Posts What is GSTR1 fo...
Related Read:GST Registration Limits: Threshold limit for GST Registration for 2025 Who Should Obtain Registration Under GST? Casual taxable person / Input Service Distributor (ISD) Businesses with turnover above the threshold limit of Rs.40 lakh or Rs.20 lakh or Rs.10 lakh as the case may ...
What is the GST exemption limit for export of services? GST treats exports of commodities or services, including consultancy services, as interstate supplies. Therefore, Section 24 of the CGST Act of 2017 mandates that all exporters of products register for GST. However, if a service exporter's...
The turnover limit is ₹20 lakh, and in the case of special category states, ₹10 lakh for the service providers. Also, here is the list of certain businesses for which GST registration is mandatory, irrespective of their turnover: ...
Under the new GST system, the turnover limit for exemption has been raised to Rs. 20 lakhs. This change means that many service providers and small traders are now exempt from GST, simplifying their tax obligations. 2. Eliminates the Cascading Effects of Tax With the introduction of GST, bu...
The government has extended the scheme for small service providers also. 6. Registration Every supplier of goods and services must obtain registration in the State/UT, where their taxable supply of the aggregate turnover surpasses the threshold limit during a Financial Year. GST explanation related ...
Standard Rate 0% (for food staples), 5%, 12%, 18% and 28% (+cess on luxury items) GST 5% and HST varies from 0% to 15% 20 %Reduced rates- 5 %, exempt, zero rated 7% Reduced rates- Zero rated, exempt Threeshold Exemption Limit Rs.40 lakh or Rs.20 lakh, depending on the st...