For example: Ola cabs enlist drivers to ply their cars, drivers are providing services to Ola and Ola is a service receiver. Changes in composition scheme: Eligibility to opt for composition scheme is raised to Rs. Nominal value of 0. GTA, which is provided the services to an unregistered person, shall be exempted from GST. Composition scheme: The threshold limit of composition scheme has been notified to be 75 lakhs. The small businesses needs to file the monthly returns for three months - July, August, September and that could be switch over to quarterly filing. Those who are providing exempt services are also now eligible for the composition scheme. GSTR-6 which is filed by an input service distributor, for the month of July, August, and September 2017 has been extended to 15/11/2017.1 crore. Relief for exporters.

Every exporter will now get an e-wallet. GST rate on stationery items, diesel engine parts have been reduced from the earlier 28% to 18%. Printing job work rate has been revised from 12% to 5%. HSN codes: The Harmonized Commodity Description and Coding System generally referred as the harmonized system of nomenclature which is a multipurpose international product developed by the World Customs Organisation WCO. Electronic verification code generated in the common portal. 9% Modes of verification: Through net banking login on the common portal, electronic code verification code will be generated. On old lease of vehicle, there has a 35% of abatement. TDS and TCS provisions will be postponed till 31/3/2018. Man-made yarn tax rates have been reduced from 18% to 12%. It comprises of 5000 commodity groups and each one is identified by a six digit code which has been arranged in a legal and logical structure. Aadhar based electronic verification code. The refund they eventually get will be offset from that amount.

Drivers are not required to register under GST which removes the burden of tax compliance for individuals with limited resources i. The supply of goods by CSD to unit runs canteens and the authorised customers. This system is used by more than 200 countries and economies are a basis China OEM Visغير مجاز مي باشدe Filament Yarn for Sale for their customs tariffs and for the collection of international trade statistics. Turnover in previous Financial year Number of digits Up to Rs. This cycle may happen from the 1st of October. July exports refund cheques will be processed on oct10 and refund cheques for august exports will be processed on oct18. The person who is liable to deduct TDS as per GST law supplying intrastate goods or services to the unregistered person would be exempt from GST. Gas, oil, coal, petroleum licenses, sub-contract licenses and leases will be charged a GST at the rate of 2.. Under consideration: GST for AC restaurants probably drops from 18% to 12%.e.Relief for service providers: If the aggregate turnover is less than 20 lakhs, the service providers will be exempted from the registration even if they do inter-state supplies of services. Mismatch of invoices reconciliation, then such amount will be refunded by crediting the electronic ledger. Many work items of job also been reduced from 12% to 5%. Tobacco leaves, cashew nuts not shelled or peeled, silk yam, lottery would have reverse charge which is applicable under GST. Ola plays GST on their divers service on the reverse charge basis. 24% Sec 5412 - Interest on refunds in an appeal 6% Sec 56 - Interest on delayed refunds 6% Provision to 56 - Interest on refunds ordered in an appeal.

The number of digits to be mentioned in the invoice depends on the annual turnover of the preceding financial year. The amount of jewellery purchase for which Know Your Customer KYC will be required that can be determined later. Reverse charge mechanism RCM postponed: Purchases from the unregistered dealer shall be suspended till 31/3/2018.5 Cr Four Digits Rates of interest: Sections Interest per annum Sec 501 - Failed to pay tax. It is supported by the well-defined rules to achieve uniform classification. Sections coming into force notification: Only section 51 and 52 TCS and TDS are not applicable as the government has relaxed TDS and TCS provisions for the time being to give more time to the e-commerce sellers. In that there would be a notional amount for credit.5 Crore must mention the HSN codes in their invoices.5%. The e-wallet will be introduced from the next year of April. Reverse charge: The person who supplies goods or services on reverse charge are exempted from registering under GST registration. Lesser burden of compliance for small businesses: The small businesses monthly returns have been switchover to quarterly filing. If you do the jewellery purchase for more than 50,000 Rs, there is no need to furnish PAN card.125%.50 Cr Nil More than 1. They will make the composition scheme more attractive. There is no change in the list of goods which are exempt from CGST. This may be beneficial to small businesses. drivers to large companies Ola with enough resources. Around 98% of the merchandise in international trade is classified in terms of HS.5 Cr Two digits More than Rs. Significant rate changes: Unbranded ayurvedic medicines GST have been reduced from 12% to 5%. Section 429 and 439 are not applicable, these clauses say that the output tax liability is reduced or input tax credit is increased due to a debit note or a credit note. Each and every registered person with the turnover which is more than 1. This may effect on textiles. Central tax rate: Most of the goods rates are same as announced by the GST council earlier but non-industrial, non-worked diamonds or precious stones will be charged at the rate of 0. 18% Sec 503 - Excess ITC availed or less tax paid.50 Cr and up to Rs. Others: E-way bill has been deferred to 1st of April 2018. Second hand goods by a registered person who deals in selling second hand goods to an unregistered person via intrastate supply would be exempt from CGST.1% GST will be paid by the merchant exporters which are applicable on exports in order to enable the suppliers to claim ITC. Under this scheme, traders will pay 1%, restaurants 5% and manufacturers 2%. GSTR-4 form due date has been extended to 15th of November 2017 for the quarter July-September 2017.1. Refund of the unutilised Input Tax Credit ITC would not be provided in the case of the tax on output being lower than the tax on inputs for certain goods mainly related to railways and textiles. A group of ministers has been formed to devise this mechanism they will submit the report within 14 days