The GST 2.0 storm looms over pharmacy retailers handling medicines, nutraceuticals and FMCG which are coming under the Composition Scheme and paying 1% tax on total turnover without input-tax credit.

Nagpur: Small traders who are out of the GST net, or those who have opted for composition scheme, are in a fix after the cut in tax rates. The department of consumer affairs has set up a toll-free ...

The Bangalore District Druggists and Chemists Association (BDCDA) is proactively encouraging and assisting the retailers to migrate from the composition scheme to the regular GST framework so that ...

There is persistence of dual treatment within the 5 percent slab. Taxation experts have cautioned that the carve-outs offered in rates, along with classification anomalies and unresolved input tax ...

A comprehensive multi-stage value-added tax (VAT) system, the Goods and Services Tax (GST), was introduced in India on 1 July 2017. The GST encompasses various indirect taxes from union and state tax ...