TMI BlogComposition scheme not updated yet on the portalX X X X Extracts X X X X X X X X Extracts X X X X ..... I'm wondering why Notification No. 1/2018- Central Tax not considered in the law yet on your portal... sec 10 for manufacturers still shows 1% whearas its changed to 0.5% back in Jan 18 - Reply By KASTURI SETHI - The Reply = It is 0.5 % per cent. of the turnover in State in case of a manufacturer and it is 0.5 % in Central GST in case of a manufacturer. It is 1 % in total ( ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... CGST : 0.5 % + SGST 0.5%). - Reply By L D Raj & Co - The Reply = currently it shows as 1% under CGST Act alone for Manufacturers. - Reply By Surender Gupta - The Reply = Section 10 prescribes the upper limit of tax which can be levied under composition scheme. Notification No. 1/2018- Central Tax does not change the rate of tax as prescribed under section Section 10. The effectiv ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e rate of tax under the composition scheme has been prescribed under the Notification No.8/2017- Central Tax, dated the 27th June, 2017. Accordingly, the relevant notification has been updated and shall continue to be updated from time to time as and when required. - Reply By Surender Gupta - The Reply = With due humble and respect, we could not find any peer who is so prompt in updating the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... relevant notifications and provisions at such speed and scale. Indeed, some times, error may creep in. But, even if some times there may be inadvertent shortcomings, we are always ready to learn and improve. Further, it is common understanding that in the Indirect Tax laws, statutory provisions must be read with related notifications and circulars. Without reading the two together, our interpr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... etation of provisions my be wrong as happened in this case. Notification No. 1/2018- Central Tax nowhere states that provisions of section 10 shall be amended since the provision of an act can be amended by the parliament only and not by the government through the notifications. - Reply By KASTURI SETHI - The Reply = Sh.Surender Gupta Ji,. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Yes, Sir. It is true and factual position. - Reply By KASTURI SETHI - The Reply = TMI posts each and every notification, case larw, circular immediately. This site is providing best services free of cost to the querists in Discussion Forum. It Is the duty of Querist/ assessee to correlate or trace out the status of these in their interests. Wh ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... at I have observed all other web sites and packages also do not post all circulars/notifications and case laws.CBIC site must also be seen. - Composition scheme not updated yet on the portal - Query Started By: - L D Raj & Co Dated:- 29-12-2018 Goods and Services Tax - GST - Got 6 Replies - GST - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management In ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dia - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
