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Tag Archives: GST FAQ

GST Impact on Textile Sector – Sectoral FAQs released by CBEC

GST Impact on Textile Sector – Sectoral FAQs released by CBEC Question 1: As per Chapter 53 heading 5303 of the GST rate schedule, raw jute has been kept at the NIL rate slab. Thus, it is presumed that suppliers dealing only in raw jute are not required to register themselves under GST. But Jute […]

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Frequently Asked Questions on Composition Scheme Released By CBEC – 05-07-2017

  Q 1.     What is  composition levy under GST? Ans.     The composition levy is an alternative method of levy of tax designed for small taxpayers whose turnover is up to Rs. 75 lakhs ( Rs. 50 lakhs in case of few States).  The objective of composition scheme is to bring simplicity and to reduce the […]

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