Page 2 - Sme Tracker

CRISIL SME Tracker: A GST leg-up for micro enterprises

Among other things, it doubled the limit for exemption from Goods and Services Tax (GST) to Rs 40 lakh, from Rs 20 lakh

'IGST paid on imported inputs is excluded in definition of duty drawback'

The customs duty and interest have to be deposited under different accounting heads

For cancelling GST registration, pay ITC or output tax, whichever is more

In accordance with Section 17(5) (h) of the CGST Act, 2017, input tax credit shall not be available in respect of goods destroyed

'Merchant exporters procuring goods at 0.1% GST must export under LUT'

A Bombay HC Bench held that well-established foreign brands with a base in India and providing services out of India aren't eligible for SFIS benefit

SME Chatroom: Several issues require the attention of DGFT

Supplies to advance authorisation holder are treated as deemed exports under the GST laws