Tag: GST Composition Scheme

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Updated on February 18th, 2019 in GST

How to Calculate GST?

For any taxpayer calculating GST payable for the GST Return filing is not less than a rocket science. The taxpayer has to take everything into consideration while calculating GST such as inter and intrastate supplies, exempted supplies and reverse charge including eligibility of the ITC. Because if a taxpayer pay-off less amount of GST payable…

Updated on March 13th, 2019 in Composition Scheme

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

If you opted in / out from GST Composition Scheme, you may facing several problems. Most of the problems are common to all taxpayers who opted in / out from composition scheme. Let’s check out those expected common problems with probable solutions. Q: Obtained new registration and opted to pay tax under Composition Scheme. How…

Updated on February 16th, 2019 in GST Council Meeting

23rd GST Council Meeting – Summary of Decisions and Changes

As the day concluded, the direction of the Indian economy was re-defined and re-tuned with the biggest tax reshuffling since GST’s inception and a bunch of minor and major tweaks were done across the key  elements of the GST regulations, in the 23rd GST Council meeting which ended in Guwahati on November 10th, 2017. All…

23rd-gst-council-meeting-recommendations-and-changes
Updated on April 2nd, 2019 in Composition Scheme

Advantages and Disadvantages of Composition Scheme Under GST

The debate which started months ago about, whether the composition scheme will bring smile or tears is still on and relevant today. Of course, there are many elements which make it shine and the GST Council is brainstorming and fine-tuning it in almost every council meeting. However, the list of the minuses can also not…

Updated on February 18th, 2019 in Composition Scheme

Facts To Know About Composition Levy Under GST

There would be a substantial amount of cost and expertise needed in complying with GST. While the big guys will easily adapt to it, it’s the smaller ones which will feel the heat for lacking either of the above. Composition scheme, under GST, is just an extension of the current scheme under VAT and is…

Facts about composition levy under gst