This account is best suited for you, if you want to sell just one or may be a few vehicles. It’s the ideal choice for individuals who want to sell online.
This type of account is best suited for you, if you want to sell multiple vehicles. It’s the ideal choice for dealers or companies that intend to sell online or already selling online
Ans. GST is an Indirect Tax which subsumes most of the complex Indirect Taxes such as Excise, VAT, Service Tax, Entertainment Tax and so on. It is applicable to Whole India with single rate of tax for a particular Item in each state. It is a consumption based tax system therefore Revenue will go to the states who consume Services or Goods supplied.
Ans. GST will be applicable on value of supply. It is not charged on Manufacturing, Production, Sale or Service rather it will charge on supply which has a defined meaning in CGST Act.
Ans. Tax Payer whose Annual Turnover is below ₹20 Lakhs need not to deduct and Pay GST. However, ₹10 Lakhs is the limit for North-East states, Himachal, Uttarakhand, and Jammu & Kashmir.
Ans. Every person having turnover more than prescribed limit needs to take the registration in GST. Further, anyone who is seeking for Composite scheme, dealing with E-commerce or have Inter State Supply need to take mandatory registration, and exemption limit is not available to them
Ans. Person having turnover less than ₹75 Lakhs can apply for Composite Scheme and under this scheme, they just need to pay GST at reduced rate of 1% tax on gross turnover. There will be less compliance work and it will provide ease of doing business to Suppliers.
