The President of India has given his consent to the Finance Bill 2019 on 01.08.2019 and the same has been enacted as The Finance Act No 02 of 2019.. Provisions of CGST has been amended. The amendment act has done various major changes in existing GST Provisions . Some of the important GST Amendment includes […]
GST EXEMPTION LIMIT FROM 01.04.2019 INCREASED TO RS 40.00 LACS CBIC in its Notification no 10/2019 issued on 07.03.2019 , said that Any person who is engaged in the exclusive supply of goods and whose aggregate turnover as per GST LAW does not exceeds Rs Forty Lacs , as the category of persons exempt from […]
BIG RELIEF FOR SMALL TAXPAYERS-GST COMPOSITION LIMIT INCREASED TO RS 1.5CR CBIC has issued notification for GST Composition Limit which are applicable from 01.04.2019 on various issues on 07.03.2019. Notification No 14/2019 dated 07.03.2019 has been issued to increase the limit for eligibility of composition scheme from Rs 1.00 Cr to Rs 1.5 Cr . From […]
BLOCKED CREDITS IN GST U/S 17(5) OF GST ACT (a) motor vehicles for transportation of persons having approved seating capacity of not more than thirteen persons (including the driver), except when they are used for making the following taxable supplies, namely:—(A) further supply of such motor vehicles; or(B) transportation of passengers; or(C) imparting training on […]
EXEMPTION FROM WAY BILL : In the following cases exemption from way bill is given in GST as per CGST Rules : a) where the goods being transported are specified in Annexure; (b) where the goods are being transported by a non-motorized conveyance; (c) where the goods are being transported from the customs port, airport, air cargo […]