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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
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Points Related To Reverse Charge Under GST as Per FAQ Issued There are two type of reverse charge scenarios provided in law. First is dependent on the nature of supply and/or nature of supplier. This scenario is covered by section 9 (3) of the CGST/ SGST (UTGST) Act and section 5 (3) of the IGST
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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