A quarterly statement cum challan, form CMP 08 shall be used to declare the self-assessed details of the tax payable by a composite dealer in the given quarter.
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GST Council in the 34th meeting held on 19th March, 2019 at New Delhi discussed the operational details for implementation of the recommendations made by the council in its 33rd meeting for lower effective GST rate .
In recent few months on GST portal, many new features have been updated to help taxpayers while transacting through GSTN for return filing or for reconciliation between two returns etc.
GST is structured as One-multistage based taxation system, it is categorized into CGST, SGST or IGST, based on whether the transaction is Intra-State or Inter-State.
The GST Regime mandates every person/business with an annual turnover of Rs. 40 lakhs or more, to register as a normal taxable person.
The Input Tax Credit mechanism allows a taxpayer to reduce his tax liabilities on his sales with the taxes paid on inward supplies.
GST filing software assists taxpayers at various stages like data import from existing ERPs, transforming ERP data into GSTN-format, preparation of various returns, fetching GSTN data, GST filing, etc. hence it is crucial for you to choose your GST software smartly.
Composition Scheme is a simple and easy scheme under GST for small taxpayers. The composition scheme is available only for taxpayers whose turnover is less than Rs. 1.5crores.
This article will help you to decide what to look forward to as Composite Dealers/Composite Taxpayers.
With ICEGate, the user can make E-payments, Track Document status at Customs EDI, Register for IPR, Verify IE Code, etc. making it an essential tool for traders and exporters in India.
Although the due date to file the annual return forms has been extended to August 31, 2019, the confusion among the taxpayers is yet to be settled.
The Goods and Service taxation introduced in the country in 2017 is one of the most intricate taxation systems worldwide.
