Government believes GST leakage via Composition Scheme
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The government suspects that its composition scheme meant to ease life for small businesses is being misused with the average quarterly turnover estimated at Rs 2 lakh.
GST Collection has gone down to Rs. 80,808 crore in November
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For the month of November, Goods and Services Tax (GST) Collection has gone down to Rs. 80,808 crore.
Great Relief to Small Traders and Restaurants in GST
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Under the Goods and Services Tax (GST), traders, manufacturers and restaurants or Dhabas, who are doing business up to Rs 75 lakh per annum, can avoid flat GSTs by making flat GST of 1 to 5 percent and offering long-range returns and books. In the 16th meeting of the GST Council on Sunday, the scope of composition scheme has been increased from 50 lakh to 75 lakh rupees for such businessmen.