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GST (COMPOSITION SCHEME (Not Applicable (panmasala, tobacco, ice cream…
GST
COMPOSITION SCHEME
for small tax payers
upto 50L- NE+HP or 75 L- other states
to bring simplicity and compliance cost
optional
Not Applicable
panmasala
tobacco
ice cream parlors
interstate goods seller
using E Commerce
2% tax
5%-restaurant and 1% for traders
file returns quarterly
no need to keep regular records like normal payers
Excempted Products
Petro products
Why Petro products-GST imp?
to reduce the final cost
final cost more because of Input GST-not creditable
Alcohol
Natural gas
ATF
GOM
to examine GST regime
ANTI PROFITEERING PROVISIONS