Category: GST Knowledge Portal

Topic Name – Can composition tax be collected from customers No, the registered person under composition scheme is not permitted to collect tax. It means that a composition scheme supplier cannot issue a tax invoice                     About Bihar Tax Consultant – Bihar Tax Consultant is among […]

Topic Name – Can the customer who buys from a registered person who is under the composition scheme claim composition tax as input tax credit Can the customer who buys from a registered person who is under the composition scheme claim composition tax as input tax credit                 […]

Topic Name – Can the registered person under composition scheme claim input tax credit No, registered person under composition scheme is not eligible to claim input tax credit.                         About Bihar Tax Consultant – Bihar Tax Consultant is among the best and experienced tax […]

Topic Name – Who are not eligible to opt for composition scheme Broadly, five categories of registered person are not eligible to opt for the composition scheme. These are: (i) supplier of services other than supplier of restaurant service; (ii) supplier of goods which are not taxable under the CGST Act/SGST Act/UTGST Act. (iii) an […]

Topic Name – Can composition scheme be availed of by a manufacturer and a service supplier A manufacturer can opt for composition scheme generally. However, a manufacturer of goods, which would be notified on the recommendations of the GST Council, cannot opt for this scheme. This scheme is not available for services sector, except restaurants. […]

Topic Name – What are the rates of tax for composition scheme All registered persons having the same Permanent Account Number (PAN) have to opt for composition scheme. If one registered person opts for normal scheme, others become ineligible for composition scheme.                         About […]

Topic Name – What will be the implications in case of receipt of supply from unregistered persons Composition Scheme is a simple and easy scheme under GST for taxpayers. Small taxpayers can get rid of complex GST formalities and pay GST at a fixed rate of turnover. This scheme can be opted by any taxpayer […]

Topic Name – What will be the implications in case of receipt of supply from unregistered persons In case of receipt of supply from an unregistered person, the registered person who is receiving goods or services shall be liable to pay tax under reverse charge mechanism. The tax will be paid by the registered dealer […]

Topic Name – What is meant by Reverse Charge Under GST It means the liability to pay tax is on the recipient of supply of goods and services instead of the supplier of such goods or services in respect of notified categories of supply. The key objective of shifting the burden of GST payments to […]

Topic Name – Are all goods and services taxable under GST Supplies of all goods and services are taxable except alcoholic liquor for human consumption. Supply of petroleum crude, high speed diesel, motor spirit (commonly known as petrol), natural gas and aviation turbine fuel shall be taxable with effect from a future date. This date […]