Introduced on July 1, 2017, the Goods and Services Tax (GST) is applicable to all service providers in India, including freelancers, as well as traders and manufacturers. It combines various Central and State taxes such as Service Tax, Excise Duty, Central Sales Tax (CST), Entertainment Tax, Luxury Tax, Octroi, and VAT into a single unified tax.

For small taxpayers with an annual turnover of up to ₹1.5 crore, the Composition Scheme offers a simplified compliance option. Under this scheme, they can pay GST at a fixed rate based on their turnover, helping them avoid the complexities of detailed filings and documentation.

Every product typically passes through several stages in the supply chain—starting from procurement of raw materials to manufacturing, then being sold to wholesalers, retailers, and finally, to the end consumer. GST is applied at each of these stages. For example, if a product is manufactured in Punjab but sold and consumed in Delhi, the tax revenue will be allocated to Delhi, the place of consumption.

Expert Mantra ensures you stay compliant with GST regulations while making the process smooth and stress-free.