https://www.taxtmi.com/article/detailed?id=8090 Proposes GST simplifications for SMEs: exclude exempt supplies from aggregate turnover for registration; narrow and clarify the definitions of supply and composite supply including treatment of separately charged components; extend and relax composition scheme rules while limiting penalties; abolish reverse charge on receipts from unregistered suppliers and limit compulsory agent registration to consignment agents; allow retrospective registration and ITC in bona fide delayed cases; moderate E Way Bill penalties and simplify small taxpayer requirements; synchronise HSN reporting, returns and refunds with GSTN support; reduce appellate pre deposit caps; restrict IGST credit on imported finished goods to protect manufacturers; permit industry associations to file advance rulings; and apply audit thresholds per registration/state. en-us Wed, 01 Aug 2018 06:46:19 +0530 Wed, 01 Aug 2018 06:46:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=8090 Proposes GST simplifications for SMEs: exclude exempt supplies from aggregate turnover for registration; narrow and clarify the definitions of supply and composite supply including treatment of separately charged components; extend and relax composition scheme rules while limiting penalties; abolish reverse charge on receipts from unregistered suppliers and limit compulsory agent registration to consignment agents; allow retrospective registration and ITC in bona fide delayed cases; moderate E Way Bill penalties and simplify small taxpayer requirements; synchronise HSN reporting, returns and refunds with GSTN support; reduce appellate pre deposit caps; restrict IGST credit on imported finished goods to protect manufacturers; permit industry associations to file advance rulings; and apply audit thresholds per registration/state. Articles Goods and Services Tax - GST Wed, 01 Aug 2018 06:46:19 +0530 https://www.taxtmi.com/article/detailed?id=8090