Separate registration for multiple business verticals within a State or a Union territory In industry there is lot of confusions regarding registration of separate vertical businesses under GST. Many of them think “could it be possible to take separate registration” of ...
Continue readingComparison between Normal Tax Payers and Composition Scheme under GST
Comparison between Normal Tax Payers and Composition Scheme under GST Peoples are getting afraid under GST regime about composition scheme. I will give you some presentation by way of example. Particulars Description Registered as a Normal Taxpayer Description Registered as a Taxpayer under ...
Continue readingIMPACT OF GST ON RENTAL INCOME
Revenue Secretary Dr. Hasmukh Adhia recently clarified that any earning over Rs 20 lakh annually from renting or leasing for commercial purposes would attract tax under the new indirect tax law. He said that if the house property is rent out ...
Continue readingFAQ on Composition Scheme
The Central Government recently released Frequently Asked Questions (FAQs) on Composition levy under the new indirect tax law, GST The composition levy is an alternative method of levy of tax designed for small taxpayers whose turnover is up to Rs. ...
Continue readingGovt Notifies Exempted Services under UTGST Act
The Central Government recently notified the list of exempted services under the Union Territory Goods and Services Tax (UTGST) Act. Services by way of transfer of a going concern, services provided to Central, State, Union Territory and local bodies, services ...
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