The article explains the legal distinction between ITC reversal on opting for composition and tax liability on sale of capital goods. It clarifies when Section 18(4) and Section 18(6) apply under GST ...

The GST Council on Sunday also reduced the tax rate for 66 items under GST. New Delhi: Industry and other stakeholders on Sunday hailed the Goods and Services Tax (GST) Council's move of bringing ...

Selling cigarettes disqualifies traders from the GST composition scheme regardless of turnover. Small retailers must follow regular GST compliance to avoid ...

A ministerial panel headed by Gujarat deputy chief minister Nitin Patel will look into the possibility of rationalisation of GST rate for the real sector besides formulating a composition scheme — a ...

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 ...

Slug: Shock for small businessesAhmedabad: The GST department has introduced new rules, effective from Oct 10, that will impact tenants of leased commercial properties. Under these rules, if the ...

The option to pay Goods and Services Tax (GST) at reduced rate of 6% would be effective from the beginning of the financial year or from the date of obtaining new registration during the financial ...

The GST Council, which held its 23rd meeting in Guwahati on Friday reduced the tax rate on 178 items from 28 per cent to 18 per cent. GSTCouncil also brought all AC and non-AC restaurants in the 5 per ...

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 ...

Traders and suppliers are studying new tax implications of GST (Representational image) GST has finally become a reality. For seamless migration to GST, the Central Board of Excise and Customs has ...