Big businesses in India are happy with the introduction of GST but small and medium enterprises (SMEs) and start-ups that don't have required resources and expertise to facilitate GST compliance ...

What is GST Composition Scheme? The composition levy is designed for small taxpayers whose turnover is up to Rs. 1.5 crore ( Rs 1 crore in the case of a few States). The objective of the composition ...

The Comptroller and Auditor General (CAG) has recommended that the Finance Ministry regularly identify high-risk taxpayers within the GST composition scheme and verify their declared sales figures ...

The GST 2.0 storm looms over pharmacy retailers handling medicines, nutraceuticals and FMCG which are coming under the Composition Scheme and paying 1% tax on total turnover without input-tax credit.

It’s been more than six years now since the Union government introduced the goods and services tax, or GST, but many businesses continue to grapple with its implementation, particularly because of the ...

The red brick-making industry has urged the government to reduce Goods and Services Tax (GST) rates on red bricks from the current 12 per cent to 5 per cent, and for the sector to be removed from the ...

The government on Thursday waived late fees for two months till June for delayed filing of GST returns for financial year 2021-22 by small taxpayers registered under the composition scheme. GSTR-4 is ...

GST composition Scheme: This pricing is determined by the restaurant's location. For example, restaurants located within hotels where the room fee exceeds the specified amount would be subject to a ...

The GST composition scheme is available to taxpayers whose aggregate turnover, in the preceding financial year, has not exceeded Rs 1.5 crore. For taxpayers in special category states, this limit is ...

The Comptroller and Auditor General (CAG) has asked the Finance Ministry to identify high risk taxpayers in the GST composition scheme on a periodical basis and verify from other sources, including ...