Articles under GST,FAQ

Questions and Answer on GST applicability on ‘pre-packaged and labelled’ goods with effect from 18th July,2022.

  Clarification on GST applicability on ‘pre-packaged and labelled’ goods with effect from 18 th July,2022. FAQ  on GST applicability on ‘pre-packaged and labelled’ goods with effect from 18 th  July,2022.    The changes relating to GST rate, in implementation of recommendations made by the GST Council in its 47th meeting held on 28 th and 29 th June, are coming into effect from the 18th of July, 2022. One such shift is the switch

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GST Registration - Frequently Asked Questions (FAQ)

Frequently Asked Questions (FAQ) about GST Registration     1.     Does aggregate turnover include value of inward supplies       Refer Section 2(6) of CGST Act.         received on which RCM is payable?     Aggregate turnover does not include        

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Anti-Profiteering Measures to Benefit Consumers under GST

Lower Prices Under GST - Anti-Profiteering Measures to Benefit Consumers   The Government is committed to ensure all consumers enjoy the benefit of lower prices of goods and services under GST.  Under GST, suppliers of goods and services must pass on any reduction in the rate of tax or the benefit of input tax credit to consumers by way of commensurate reduction in prices. If this is not done, the consumer's interest is protected by the National Anti-Profiteering Authority w

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How will the aggregate turnover be calculated for the purpose of composition?

How will the aggregate turnover be calculated for the purpose of composition? Aggregate turnover calculation for the purpose of composition          Aggregate turnover will be calculated on the basis of turnover on an all India basis and will include value of all taxable supplies, exempt supplies and exports made by all persons with same PAN, but would exclude inward supplies under reverse charge as well as central, State/Union Territory and Integrat

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Who are the persons not eligible for composition scheme?

 Who are the persons not eligible for composition scheme?                Following persons are not allowed to select for the composition scheme: a) a casual taxable person or a non-resident taxable person; b) suppliers whose aggregate turnover in the preceding financial year crossed Rs. 75 lakhs; c) supplier who has purchased any goods or services from unregistered supplier unless he has paid GST on such goods

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