Rajakumari's blog

Any business with an annual turnover less than 1.5 Cr, and involved in trading, manufacturing or owns a restaurant can get registered under the Composition Scheme. Composite dealers have to file their GST returns on a quarterly basis.
Although some GST laws are relaxed for composite dealers when compared to regular dealers, yet there are a few compliance requirements which can be challenging for composite dealers.
 

Any business with an annual turnover less than 1.5 Cr, and involved in trading, manufacturing or owns a restaurant can get registered under the Composition Scheme. Composite dealers have to file their GST returns on a quarterly basis.
Although some GST laws are relaxed for composite dealers when compared to regular dealers, yet there are a few compliance requirements which can be challenging for composite dealers.
 

You might have already generated e-Way Bills for your business since e-Way Bills are mandatory for interstate movement of goods in India from April 1st onwards.
 
An e-Way Bill has to be generated if the total of taxable value and tax amount in the invoice of goods being transported exceeds Rs. 50,000, and in few States for intrastate transactions as well.

Supply of goods or services is the taxable event under GST. In our blog on supply under GST, we have learnt about the activities which are considered as supply under GST. In this blog, let us understand the activities which are not supply under GST and hence, not taxable under GST.
 

Under GST, transport of goods should be accompanied by a ‘Tax Invoice’ or ‘Bill of Supply’. When a registered dealer supplies taxable goods, Tax Invoice should be issued and when the dealer supplies exempted goods, Bill of Supply is to be issued. A composition tax payer should issue a Bill of Supply for all supplies.
 
However, there can be scenarios when a person cannot issue a Tax Invoice or Bill of Supply for a supply. The scenarios of transport of goods without invoice are:

DSC stands for Digital Signature Certificate. Digital Signature Certificates (DSC) can be used to sign documents digitally. In India, DSC are issued by authorized certifying authorities. You can obtain a DSC from one of the authorized DSC-issuing certifying authorities, post which DSC Registration needs to be done at the portal. Note that the GST portal accepts only PAN based Class II and III DSC.
 

Every person registered under GST has a login to the GST portal, wherein, they can perform all compliance activities including filing of returns, payment of tax, etc. An important feature given in the GST portal is the facility to make amendments in GST registration details. There can be many scenarios where a business needs to edit its registration details.
 

We have learnt about the persons who have to mandatorily register under GST in one of our previous blog. These persons have to register, irrespective of their turnover. Hence, even if their turnover is less than the threshold limit of Rs. 10 Lakhs (for special category states) and Rs. 20 Lakhs (for rest of India), these persons have to register under GST. However, certain persons need not mandatorily register under GST, though they fall in the category of persons who have to mandatorily register.

A person registered as a composition tax payer has to become a regular tax payer when his/her turnover crosses Rs. 50 Lakhs (in Special Category States except Uttarakhand) and Rs. 75 Lakhs (in rest of India). There can also be a scenario where a composition tax payer chooses to become a regular dealer voluntarily, though his/her turnover does not cross the threshold limit. In this blog, let us understand the process to be followed by a person to withdraw from the composition scheme and become a regular tax payer.
 

This post has been updated on 2o Aug, 2017.
Ever since the Form GSTR-3B format was released, the fundamental question which most of businesses have is ‘How can I capture the details of my Transitional ITC in Form GSTR-3B?’. With the extended dude date of 25th August, 2017, just a few days away, this questions seems to be one of the most concerned area for business in filing Form GSTR-3B. In this blog, we will be discussing on