Under the GST regime, goods carriers transporting goods are required to carry online downloaded forms GST KER 1 for single consignments, form GST KER 2 for parcel carriers and GST KER 3 for transporting goods for own use. These forms are to be produced before a checking GST officer for inspection whenever requested during the

A registered dealer, whose aggregate turnover in a financial year does not exceed Rs.75 lakhs, is eligible to opt for composition scheme under GST. In the last GST Council, the aggregate turnover limit for availing the scheme has been increased to Rs.1 crore from Rs.75 lakhs. Composition scheme can be opted only for the supply

Every taxable person registered under GST, except those who opted for composition scheme, is a non-compounded dealer (normal dealer). Higher tax rates of 5%, 12%, 18% and 28% shall be applicable for normal dealers. If the aggregate turnover of the non-compounded dealer is less than Rs.75 lakhs, s/he can opt for composition levy scheme. Normal

Any supply by an Indian resident to foreign tourist shall be treated as inter-state supply and hence IGST shall be levied.    

An agriculturist shall not be considered as a taxable person and shall not be liable to take registration. Under GST Act, ‘agriculture’ with every grammatic variations and cognate expressions, includes floriculture, horticulture, sericulture, the raising of crops, grass or garden produce and also grazing. But sectors like dairy farming, poultry farming, stock breeding, gathering of

Every registered supplier of taxable goods and services can collect tax, except those who have registered under the composition scheme. The collection of tax is done at the time of supply of Goods. The taxable person must prominently indicate the GST amount on tax invoices. GST is charged on the value or selling price of

Any tax paid by a foreigner in Indian will be refunded under GST rules. A foreign tourist is defined as a person who is not normally a resident in India, who enters India for a stay of not more than six months. As mentioned in Section 15 of IGST Act “the integrated tax paid by

Manufacturers and retailers can stamp new prices on pre-GST stock of goods and sell them till the end of September. MRP may need to be revised in specific cases.      

In the GST regime, art works such as paintings, drawings, engravings, sculpture, lithograph etc fall under the 12% bracket. In the pre-GST regime handicrafts were exempted from taxation. But under GST, exemption for many of the handicrafts is removed. The export of handicrafts is treated as zero-rated supply under Section 2 (109) of Model GST

A tax invoice includes particulars of the product, details about the supplier and the recipient along with tax charged. The tax invoice has to be issued for purchases/supplies above Rs.200. And for purchases below Rs.200, the registered person can issue invoice on demand. Invoice becomes a basic document for recording the supply of goods and/or