limit increase to 1 crore
Ashwin Kumar (1234 Points)
06 October 2017
is it true that the compensation scheme limit has been increased to 1 crore under gst ???
2 Replies
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 06 October 2017
* GST rate on 27 items reduced.
* GST on unbranded Ayurvedic medicines has been reduced from 12% to 5%.
* Tax rate for man-made yarn has been reduced to 12% from 18%. The decision will have an effect on textiles.
* The council will try to implement the e-way bill by April 1, 2018.
* Traders will pay 1%, manufacturers 2% and restaurants 5% under the composition scheme.
* Refund cheques for July exports will be processed by Oct 10 and refund cheques for August exports will be processed by Oct 18.
* Those who have up to Rs 1.5 crore turnover will file quarterly returns, not monthly returns.
* Compliance burden of medium and small taxpayers in GST being cut; eligibility of composition scheme raised to Rs 1 crore.
* E-wallet for each exporter to be made and notional amount as advance refund will be given. It will be initiated on 1 April 2018.
* GST on unbranded Ayurvedic medicines has been reduced from 12% to 5%.
* Tax rate for man-made yarn has been reduced to 12% from 18%. The decision will have an effect on textiles.
* The council will try to implement the e-way bill by April 1, 2018.
* Traders will pay 1%, manufacturers 2% and restaurants 5% under the composition scheme.
* Refund cheques for July exports will be processed by Oct 10 and refund cheques for August exports will be processed by Oct 18.
* Those who have up to Rs 1.5 crore turnover will file quarterly returns, not monthly returns.
* Compliance burden of medium and small taxpayers in GST being cut; eligibility of composition scheme raised to Rs 1 crore.
* E-wallet for each exporter to be made and notional amount as advance refund will be given. It will be initiated on 1 April 2018.
Recent Topics
- Share office desk in bkc, near family court
- 80D claim for payment paid by parent
- TDS on purchase of Flat under subvention scheme be
- Nznxnc call me at the end of the day of the
- Nsje snswk fjw ed le ene djff ne enje ejdd rejje
- Hxjcif the day I have been in touch with me and
- Iska djd djrbdsjebshe sir ur rei ejr reinr the jr
- GST registration for medical shop in Karnataka
- Hsshs me know if you are free number of the
- Chu Kang and the situation of the situation and I
Related Threads
CAclubindia
