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GST COMPOSITION SCHEME
What is composition scheme of GST, who is eligible and how to opt for itFor those small businessmen and professionals who wants to register for GST but can't do so due to the burden of various GST law provisions...19 Sep, 2023, 12.16 PM IST- Is the GST Composition scheme beneficial? Cost-impact analysis shows the risksComposition levy is not a practical proposition. Composition levy almost resembles a direct tax and once you do a cost impact analysis, it ...23 Nov, 2019, 10.57 AM IST
- GST: Composition scheme for small taxpayers extended to Rs. 1.5 croreThe GST Council increased the threshold for composition scheme once again to Rs 1.5 crore and also decided to amend the law to increase the...05 Aug, 2019, 02.49 PM IST
- Service providers may now opt for composition scheme till July 31This is against the higher rates of 12 and 18 per cent levied for most services under GST.03 Jul, 2019, 02.23 PM IST
- Composition scheme biz to now file simplified 'self-assessed' GST return quarterlySo far, businesses opting for composition scheme had to file tax returns every quarter in GSTR-4 which ran into around seven pages.24 Apr, 2019, 04.57 PM IST
- Service providers can opt for GST composition scheme by April 30: CBICBusinesses which apply for new registration may avail the said benefit in Form GST REG-01 at the time of filing application for registratio...07 Apr, 2019, 05.27 PM IST
- FinMin considers steps to prevent composition dealers from charging GST from buyersThe move would check the widespread practice of shops charging GST from you and not depositing it with govt.13 Jan, 2019, 03.59 PM IST
- Returns under composition scheme have a surprise: Hasmukh AdhiaUnder the composition scheme, traders and manufacturers are allowed to pay taxes at a reduced rate of 1 per cent, while restaurant owners h...06 Feb, 2018, 03.25 PM IST
- Government collects only Rs 335 cr under GST Composition scheme in one quarter"A total of 8.10 lakh returns were filed by Composition Dealers paying a total of Rs. 335.86 crores as GST," said Ministry of Finance in a ...25 Jan, 2018, 05.11 PM IST
- GST composition scheme may come under reverse charge mechanism to curb evasionUnder the reverse charge mechanism, a person receiving goods or services collects the GST levied and deposits the tax with the government.21 Jan, 2018, 11.42 PM IST
- Panel against including all services in GST composition schemeThe panel suggested a separate composition rate not exceeding 18 per cent for services supplied by composition dealer by way of job work, s...11 Jan, 2018, 05.46 PM IST
- GoM on composition scheme holds first meetingThe 5-member GoM, under Assam Finance Minister Himanta Biswa Sarma, has also been tasked to revisit Goods and Services Tax (GST) rates for ...16 Oct, 2017, 09.45 AM IST
- Group of Ministers set up to make GST composition scheme more attractiveThe GoM will examine whether the AC restaurants pass on the benefit of cost reduction under GST to consumers and if they don’t, whether the...09 Oct, 2017, 08.14 AM IST
- GST: Composition scheme extended to Rs. 1 cr, quarterly returns for taxpayers with turnover of Rs 1.5 crthe GST Council in its 22nd meeting has decided to allow taxpayers with Rs 1.5 crore to file quarterly returns and at the same time increas...06 Oct, 2017, 09.05 PM IST
- Subdued demand may force relook at GST composition schemeCBEC is trying to ascertain the reasons for businesses not opting for the Composition Scheme that was especially designed to ease complianc...30 Jul, 2017, 12.37 PM IST
- Business houses get time till August 16 to opt for GST composition schemeThe government is mindful of the concerns of tax payers, especially the small taxpayers, arising from transition to the GST regime from Jul...22 Jul, 2017, 09.36 PM IST
- Ice cream, tobacco makers can't opt for GST composition schemeAs per finance ministry notification, manufacturer of ice cream, and other edible ice, whether or not containing cocoa, shall not be eligib...28 Jun, 2017, 06.19 PM IST
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