Diabytes
Central GST Act News
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A summons was issued under Section 70 On December 17, 2024 of the Tamil Nadu Goods and Services Tax Act and the Central GST Act.
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With just about one lakh of 70 lakh businesses opting for GST Composition Scheme, tax authorities are reviewing why the scheme that allowed such entities to pay a fixed 1-5 percent tax, has not clicked.
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Revenue department officials said the same principal will apply on sale of old cars or two-wheelers and no GST will be payable even though the supply would be for a consideration.
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