All about GST
With the Introduction of Goods and Services Tax [GST] in 2017, there was a complete transformation of Indirect Tax regime in India. From statewide taxes, the country has moved to one nation one tax regime wherein all the major taxes of various states have been consumed in one tax i.e. GST.
While initially the GST was a complex subject since it was new but over the last few years it has evolved and now the same is not as difficult as it was initially.
The glitches in the GST website have been resolved to a large extent, there were many amendments put forth providing ease of doing business and also for small taxpayers such as quarterly filing scheme for taxpayers upto turnover of Rs.5 cr, composition scheme for taxpayers upto 1.5 cr, no need of filing annual returns for taxpayers having turnover upto 2 cr, no requirement of audit from CA or ICWA in case of 9C Annual reconciliation statement for turnover above Rs.5 cr.
Here at onlineindiataxfilings.net GST learning Centre, we will be analysing important and relevant topics relevant to GST laws through various categories so that it will be easier for the readers to understand the topics in better way.