10 good and services tax facts in India

By. Neha Gupta


Composition scheme is a simplified tax scheme under GST for small businesses with an annual turnover up to a specified threshold.

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The e-way bill is an electronic document required for the movement of goods worth over a specified value under GST

The e-way bill contains information such as the goods' description, quantity, value, and the applicable GST rate.

The GST Council is a constitutional body established under Article 279A of the Indian Constitution.

The Goods and Services Tax Network (GSTN) is a non-profit organization responsible for providing IT infrastructure and services for the implementation of GST in India.

Integrated Goods and Services Tax (IGST) is a component of GST levied on inter-state supplies of goods and services in India.