Tag archives for composition scheme
ITC-01 enabled on GST portal for availing ITC in various cases
ITC 01 is now enabled on portal for availing Input Tax Credit in various situations like the one illustrated below: Registered persons whose exempt supply of goods and/or services become…
Threshold for Composition Scheme hiked to Rs 2 Crore and tax rate uniformed to 1 percent
GST Council decides to raise composition scheme threshold to Rs 2 crore. Currently, the threshold has been hiked to Rs Crore with the highest possible threshold amount being capped at…
What is the last date for filing Return by person registered under Composition Scheme
Taxpayers registered under composition scheme in GST have been continuously raising query regarding the last date of filing GSTR-4. Answer - As per Section 39(2) of Central Goods and Services…
Recommendations made by the GST Council in its 22nd Meeting held
The GST Council, in its 22nd Meeting which was held today in the national capital under Chairmanship of the Union Minister of Finance and Corporate Affairs, Shri Arun Jaitley has recommended…
Facility to opt out from composition scheme enabled
It has been announced by GSTN that now the facility to opt out from composition scheme has been made available on the common portal. So taxpayers waiting to opt-out can…
Is composition dealer required to file GSTR-3B?
Is composition dealer required to file GSTR-3B? Many dealers registered under composition scheme has the query, as to whether they are required to file GSTR-3B or not? Answer - Composition…