INPUT TAX CREDIT AVAILMENT AND UTILISATION

How to avail and utilise the credit of these taxes:

  

• Credit of CGST should be utilised first for payment of CGST and than for payment of IGST.

• Credit of SGST/UGST should be utilised first for payment of SGST/UGST and than for payment of IGST.

• Credit of IGST should be utilised first for payment of IGST then for the payment of CGST and at last for the payment of SGST/UGST.

Note: Credit of CGST cannot be used for payment of SGST/UTGST
                                                          and 
          Credit of SGST/UTGST cannot be utilised for payment of CGST.

COMPOSITION SCHEME UNDER GST

Composition scheme is an option to small taxable person to pay tax at very low rate on the basis of turnover.

• Small Taxable Persons having turnover upto ₹ 20 Lakhs are exempt from GST. For North Eastern States,Himachal Pradesh,Uttarakhand and Jammu & Kashmir Limit is ₹ 10 Lakhs.

LIST OF GST RETURNS WITH DUE DATE

Migration of Existing Taxpayers of VAT, Service Tax, Central Excise will Restart from 25th June 2017

Existing Taxpayers of VAT, Service Tax, Central Excise

DO NOT WORRY

• If you have not enrolled for GST yet, or
• If you have activated your account under enrolment but not submitted the application

ENROLMENT WINDOW WILL REOPEN ON 25th JUNE 2017 AND CONTINUE FOR 3 MONTHS AS PER RULE.

Also note that your provisional ID will be your GST Identification Number (GSTIN).

CLASSIFICATION OF GOODS AND SERVICES UNDER GST

Classification 

As Different Rate of Tax (5,12,18,28) are Prescribed. Classification is Important to dermine proper rate of Tax.

HSN Code of Goods for Classificaiton Purpose

HSN CODE

GST Rate on Goods (in Hindi)

 विभिन्न वस्तुओं पर,GST की दर