Friday, October 13, 2017
The dealers and traders will have to display the GST registration number on their signboards and the registration certificate on their premises.
The rule will be implemented strictly from November to ensure that consumers will not be taken for a ride under the grab of the GST. The Commercial Taxes department will initially focus on the traders and businesses that have opted for composition scheme. ‘Availing of the composite scheme and are not entitled to collect taxes from the people’. The department officials have noticed that the dealers are collecting GST from the consumers. The objective of the optional composition scheme is to bring in simplicity and reduce the compliance cost for the small tax players.
The composition levy is an alternative method of levy of tax designed for small tax players with turnover of up to Rs.75 lakh. It enables the taxpayers to make payments at a flat rate under the GST.