Introduction of Composition Scheme of GST: To provide greater relief from complex compliance requirements under GST Law for small businesses for taking credit and issuing Tax Invoice, maintaining various records of inputs and outputs, filling mandatory three returns monthly etc., an option is provided to go for a COMPOSITION SCHEME. This scheme provides much needed…
Read MoreIntroduction- GST ON JOB WORK Job-work sector constitutes a significant industry in Indian economy. It includes outsourced activities that may or may not culminate into manufacture. The term Job-work itself explains the meaning. It is processing of goods supplied by the principal. The concept of job-work already exists in Central Excise, wherein a principal manufacturer…
Read More