Window to opt for Composition Scheme has been made available on the official GST portal for the year 2022-23. Eligible taxpayers can apply before 31st March 2022. GST enables a new facility for filing LUT (Letter of Understanding) for the financial year 2022-23. Module wise new functionalities...
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...
Taxpayers can choose the composition scheme for the FY 2024-25 by visiting the GST Portal by March 31, 2024. File Form CMP-02 under Navigation ‘Services -> Registration -> Application to Opt for Composition Levy’. 09th February 2024 GSTN has added four new states (Jharkhand, Karnataka, ...
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...
WHICHEVER IS HIGHER 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 Finan...
Apart from these, there have been new changes including a window to opt for composition scheme opening for 2022-23, which have been released. Read all the latest GST news updates here: Top GST News of the month. On the IRIS GST front, our monthly newsletter – IRIS GST Times has complet...
Articles related to all about the Composition Levy of Scheme (Section 10 of CGST Act 2017) whose turnover described below a certain limit. Limit under Composition scheme What is Aggregate Turnover Person not availed composition scheme Condition & restriction for levy of composition scheme (under ...
GST CMP-08 is Now Live for Composition Taxpayers Recently, the GST council had brought a new GST return filing model for the taxpayers having GST registration under the Composition scheme. Under that, a new GST return, GST CMP-08 has been introduced. The GST CMP-08 shall replace the existi...
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To opt into the scheme, the business must file form GST CMP – 02 with the government, using the onlineGSTN portal. The indication to remain in the scheme must be made before every financial year (FY). For the FY 2019-20, the last date to apply for the composition scheme is March ...