Gst Composition Scheme

Composition scheme: Late fee waived till June for delayed filing of GSTR-4

According to GST law, Rs 50 per day is charged as late fee for delay in filing GSTR-4. However, where the total amount of tax payable is nil, a maximum of Rs 500 can be imposed as late fee.

GST Compensation revives bitter memory of Centre-state tussle over VAT

Under the VAT system, the compensation mechanism linked to the cut in central sales tax from 4% to zero had created bad blood between the union govt and the states

Poor collection mars GST flat-rate scheme

A five per cent tax is levied on restaurant owners, two per cent on traders and one per cent on manufacturers under the composition scheme

GST composition scheme takes a quantum leap

Assessees registered under scheme rise to 1.5 million in about two months

GSTN reopens composition scheme window for small businesses

Taxpayers were earlier given time till August 16 to opt for composition scheme

'Less tax, no input credit' plan for small businesses may return soon

Only 1 mn entities opted for the scheme, meant for specific small businesses

500,000 register under composition scheme, IGST from imports hit 20,000 cr

Nearly 7.1 mn excise, service tax and VAT assessees have migrated to the GST Network till July 25

Few takers for simple tax for small businesses: A look at Composition Scheme under GST

The objective of the Composition Scheme is to bring in simplicity and to reduce the compliance cost