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  • Scope of Supply under GST
  • Features of CGST
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What is CGST ?

CGST is a tax charged on intrastate supply of goods and services by the central government and is governed by the CGST Act, 2017. And, SGST is a tax component applied to the same intrastate supplies by the state government CGST Act, 2017 CGST is governed by CGST Act, 2017. This Act was introduced to outline the provisions for levying and collection tax on intra-state supply of goods and services by the Central government and all the issues related to the same. Accordingly, CGST Act, 2017 contains provisions pertaining to:

Scope of Supply under GST

  • Tax liability for Composition dealers
  • Time of Supply of Goods and Services
  • Value of Taxable Supply
  • Input Tax Credit
  • Registration Under GST
  • Tax Invoice
  • Tax Returns
  • Reverse Charge
  • Mechanism
  • Payment of Tax

Features of CGST

State-wise, single registration under GST is required to meet GST compliance like filing returns, paying taxes etc. And most of the compliance is done online.

A single return needs to be filed by the taxpayer state-wise. Such a return must report all the supplies whether made within the state, outside the state or  exported outside India and pay taxes on such supplies. These taxes include CGST, SGST/UTGST and IGST.

A business entity having an aggregate annual turnover of upto Rs 40 Lakhs in case of goods and Rs 20 Lakhs in case of services is not required to register  under GST. However, such an entity can register under GST voluntarily. For Special Category States, the threshold limit for GST registration is Rs. 20 lakhs.

A business entity having an aggregate annual turnover of up to Rs. 1.5 crores can opt for Composition Scheme under GST. A composition dealer needs to pay tax  at a fixed rate which is much lower than GST rates charged to normal taxpayers under GST. Furthermore, the compliance under Composition Scheme is minimal.

ITC under GST can be cross – utilized to pay central and state taxes

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