The GST 2.0 storm looms over pharmacy retailers handling medicines, nutraceuticals and FMCG which are coming under the Composition Scheme and paying 1% tax on total turnover without input-tax credit.

New Delhi, Jul 30 (PTI) With just about one lakh of 70 lakh businesses opting for GST Composition Scheme, tax authorities are reviewing why the scheme that allowed such entities to pay a fixed 1-5 per ...

New Delhi, Jul 31 (PTI) Five lakh businesses have opted for the GST composition scheme, which allows them to pay taxes at a concessional rate and makes compliance easy, the government said today.

The businesses should approach a chartered accountant at the outset to determine the right tax rate. It’s been more than six years now since the Union government introduced the goods and services tax, ...

GST composition Scheme: This pricing is determined by the restaurant's location. For example, restaurants located within hotels where the room fee exceeds the specified amount would be subject to a ...

The Comptroller and Auditor General (CAG) has asked the Finance Ministry to identify high risk taxpayers in the GST composition scheme on a periodical basis and verify from other sources, including ...

The red brick-making industry has urged the government to reduce Goods and Services Tax (GST) rates on red bricks from the current 12 per cent to 5 per cent, and for the sector to be removed from the ...

The GST composition scheme is available to taxpayers whose aggregate turnover, in the preceding financial year, has not exceeded Rs 1.5 crore. For taxpayers in special category states, this limit is ...