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.
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 ...
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 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 ...
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Red brick makers seek removal from Special Composition Scheme and reduction of GST to 5 per cent
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 ...
Based on an analysis of 8.66 lakh composition taxpayers under the central jurisdiction between 2019-20 to 2021-22 fiscals, the Comptroller and Auditor General (CAG) found that a significant number of ...
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 ...
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 ...
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