Articles under GST,FAQ

GST Registration - Frequently Asked Questions (FAQ)

Frequently Asked Questions (FAQ) about GST Registration     1.     Does aggregate turnover include value of inward supplies       Refer Section 2(6) of CGST Act.         received on which RCM is payable?     Aggregate turnover does not include        

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Anti-Profiteering Measures to Benefit Consumers under GST

Lower Prices Under GST - Anti-Profiteering Measures to Benefit Consumers   The Government is committed to ensure all consumers enjoy the benefit of lower prices of goods and services under GST.  Under GST, suppliers of goods and services must pass on any reduction in the rate of tax or the benefit of input tax credit to consumers by way of commensurate reduction in prices. If this is not done, the consumer's interest is protected by the National Anti-Profiteering Authority w

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How will the aggregate turnover be calculated for the purpose of composition?

How will the aggregate turnover be calculated for the purpose of composition? Aggregate turnover calculation for the purpose of composition          Aggregate turnover will be calculated on the basis of turnover on an all India basis and will include value of all taxable supplies, exempt supplies and exports made by all persons with same PAN, but would exclude inward supplies under reverse charge as well as central, State/Union Territory and Integrat

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Who are the persons not eligible for composition scheme?

 Who are the persons not eligible for composition scheme?                Following persons are not allowed to select for the composition scheme: a) a casual taxable person or a non-resident taxable person; b) suppliers whose aggregate turnover in the preceding financial year crossed Rs. 75 lakhs; c) supplier who has purchased any goods or services from unregistered supplier unless he has paid GST on such goods

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Is NCCD leviable on tobacco products after GST?

Is NCCD leviable on tobacco products after GST?   NCCD (National Calamity Contingent duty) shall continue to be levied on tobacco and tobacco products at the rates as applicable prior 1st July, 2017, GST. The National Calamity duty chargeable on the goods specified in the Seventh Schedule shall be in addition to any other duties of excise chargeable on such goods under the Central Excise Act, 1944 (1 of 1944) or any other law for the time being in force.

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