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Annual aggregate turnover for availing composition scheme increased to 1 Cr. (Special category states-75Lacs except J&K and UK) Composition scheme can be availed till 31.03.2018 by both- migrated and new tax payers. Persons providing exempt services but otherwise eligible for Composition Scheme can now avail the benefit. Relief from getting registered, if turnover less than
Learn MoreWould head offices providing centralized HR, Finance and IT functions also need to raise invoices to its branch- Yes, if the head office and branches are distinct persons as specified in section 25(4), invoice is required to be issued and GST should also be paid. Where free replacement is provided to the customers without consideration
Learn More1. ‘Carry forward’ of Input Tax Credit (ITC) as available on appointed day (i.e 1stJuly, 2017) (I) Every registered person under GST is eligible to claim ITC against CENVAT credit carried forwarded in return pertaining for the period immediately preceeding appointed day(i.e on 30th June 2017) subject to satisfication of certain prescribed conditions: That amount
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