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Time Value Place Of Supply


GST Laws: Analysis of “Time of Supply of Goods and Services”

The taxable event under the GST laws is referred as the ‘Supply’ of goods and/or services. With this article, we will understand the how to calculate the time of supply and how does it affect the GST liability.


GSTR 4 - Composition Scheme: Rules, Return Filing Procedures & Dates

In this article, we talk about frequently asked questions (FAQs) on GST liability under composition scheme and how to file GSTR-4. We answer to questions including who can file GSTR-4.


Pros and Cons of the GST Composition Scheme

Any GST registered Taxpayers who has opted for GST Composition Scheme cannot avail ITC credit, cannot recover tax amount. However, they can avail the benefit of filing quarterly returns.


Lower GST Rate for Composition Scheme Service Providers

Composition scheme is to help the small taxpayer by reducing the GST compliance burden. Any taxpayer whose annual turnover is less than or equal to 50 Lakhs INR has an option to opt for a service provider.


Modify, Cancel and Reject E Way Bills under GST after 24 Hours

The consignor can only cancel an e-Way Bill within 24 hours from the generation. The person who has generated the e-Way Bill can cancel that e-Way Bill, once an e-Way Bill is verified by an officer it cannot be cancelled.


Composition Scheme Rediscussed by GOM

For GST Council meeting, formed a special group of ministers [GoM] especially for overseeing, fine-tuning and making the composition scheme more befitting and benefiting for the SMB, start-ups and the business community at large.


Advantages and Disadvantages of Composition Scheme Under GST

The composition scheme introduced through Section 10 of the CGST Act, is devised to squeeze the burden of compliances for SMEs and start-ups. The composite taxpayers can only operate intra-state and not any inter-state activity.


Composition Scheme May Stretch to Inter-State Businesses

Composition scheme have recently been extended in the last GST Council meeting to 1 crore from the earlier 75 lakhs, wherein the composition tax payers pay a flat rate of tax and a quarterly return.

Seep Gupta
By: Seep Gupta

17 days ago