COMPOSITION RULES Composition Scheme Rules encapsulates the procedural compliance w.r.t the intimation for Composition Scheme; the effective date for Composition Levy; Conditions and Restrictions on the levy; and Validity of levy and Rate of Tax. A Small businessman who pay taxes and have an aggregate turnover of Rs. 50 lakhs in a financial year is […]

GST, Seva Kendra is a Government’s Initiative to help India get access to understand GST and easily file GST-Complaints. GST SEVA KENDRA: CBEC initiated the GST Seva Kendra in the year 2017, February. GST Seva Kendra is one such facilitation center that tends to the needs of businesses, taxpayers and even those who are considering

Goods and Services Tax, also known as GST is a tax imposed on value added goods and services that are used as domestic consumption. The main aim of GST was to create single market in India by replacing multiple tax collection system. It came into force on 1st July 2017. It is the multi-stage, comprehensive and

The history of tax reforms in India dates back to 1985, when the then government had announced the Long Term Fiscal Policy. The MODVAT laws – which were the indirect tax laws we were following till 2017 – were introduced in 1986. And then, almost thirty one years later, in 2017, the GST (Goods and

GST, a one-tax system that was introduced in the last year, was a complex tax system that was understood by few. The previous articles have made it easier to breakdown the GST into simpler terms. One of the fundamental features of GST is Input Tax Credit. There is a seamless flow of input credit across

What is GST? GST stands for Goods and Services Tax. GST is imposed on value added goods and services that are sold for domestic consumption. GST has replaced many indirect taxes in our nation. It was enforced on 29th March, 2017 and came into effect on 1st July 2017.GST is paid by the consumers but is remitted (to the government) by