State tax on first supplies by eligible small suppliers imposes special billing, prohibits collection, and denies input tax credit. State tax is notified at a concessional rate for first supplies of goods or services up to an aggregate turnover threshold in a financial year by a registered person subject to conditions: prior year turnover within threshold, ineligibility for composition, no exempt or inter State supplies, not a casual/non resident person, no supplies through specified e commerce operators, and exclusion of specified goods in the annexure. Optioning suppliers must not collect tax, cannot claim input tax credit, must issue a bill of supply with a prescribed declaration, and remain liable for tax on specified outward and certain inward supplies. Notification effective 1 April 2019.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
State tax on first supplies by eligible small suppliers imposes special billing, prohibits collection, and denies input tax credit.
State tax is notified at a concessional rate for first supplies of goods or services up to an aggregate turnover threshold in a financial year by a registered person subject to conditions: prior year turnover within threshold, ineligibility for composition, no exempt or inter State supplies, not a casual/non resident person, no supplies through specified e commerce operators, and exclusion of specified goods in the annexure. Optioning suppliers must not collect tax, cannot claim input tax credit, must issue a bill of supply with a prescribed declaration, and remain liable for tax on specified outward and certain inward supplies. Notification effective 1 April 2019.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
