GST

GST traders will find it difficult to comply with GST. What steps have been taken to reduce compliance burden for small traders?

No. No. This is what the Government has done :

 (a) GST is not required for small traders with turnovers below Rs.20 Lakhs

.  (b) A simple and easy-to-understand composition scheme is available for traders with turnover above Rs. 75 lakhs, where tax can be paid quarterly in proportion to turnover.

 (c) GST seva Kendras have been established in all Commisssionerates under CBEC in order to assist small traders who are subject to the GST law

(d) GST Network will provide an easy-to-use application for uploading invoice details. This will make it simple and hassle-free for traders to upload their invoices. 

(e) GST Network allows for online tax returns and payments. The interface with tax authorities will be minimal or non-existent.

 (f) Small taxpayers have the option to use the services GST practitioners for a minimal fee to ensure compliance with GST.

 (g) GST Suvidha providers (GSPs), will be offering easy-to-use applications that will allow for seamless compliance under GST

.  (h)  All officers must adhere to strict time limits. If all documents are in order, registration will be granted within 3 working days. If the appropriate officer does not respond within three days, registration will be considered granted. 

(i) The application for refund can be made online, with very little interaction with the tax officer. Receipt of refund claims will be sent within 15 days. The claim will then be processed within 60 days. If the claim is not processed within this time, interest will be charged. Without any verification, exports will receive a provisional refund of up to 90%. The beneficiary's bank account will receive the amount of the refund directly.


Migratory FAQs


How GST is beneficial for traders ?


Are all traders need to register under GST ?


Is it mandatory to file monthly returns if a trader does not choose to pay tax under the composition system?


What are the details that need to enter in the form GSTR -1 ?


. Under GST, will traders be required to declare their IEC at the time of imports and exports?


Can traders claim the credit for IGST paid at imports to discharge their GST domestic liabilities? How can you do this if yes?


Is there a way to pay GST taxes for small traders?


Which is the eligible category to opt for composition levy What are the Special Category States where the turnover limit for the Composition Levy purpose for CGST or SGST purposes shall be Rs. 50 lakhs


What is the tax rate under the Composition levy ?


Who are the traders not eligible for the composition scheme?


What tax will a trader be required to pay?


If a person avails a composition scheme in a financial year, the turnover is Rs.75 Lakhs/Rs. 50 Lakhs in the course of the financial year, i.e. He crosses Rs.75 Lakhs/Rs. 50 Lakhs in December will he eligible tax under the composition scheme for the year?


How is the aggregate turnover calculated for composition purposes?


Is it possible for a person who has chosen to pay tax under the composition system to receive Input Tax Credit on his inward supplies?


A registered person who buys goods from a trader subject to the composition scheme can claim credit for purchases made by dealer ?


Is it required that monthly returns be filed by the person who chooses to pay tax under the composition plan?


What are the essential details enter in the form GSTR-4?


The composition scheme allows a person to opt for tax payment from unregistered persons. Is the composition dealer required to pay reverse tax? If yes, how?


What is the format in which a taxable person must give an indication for the option to pay tax under the composition scheme?