Govt. releases FAQs for traders; Inter alia explains composition & transitional credit schemes, returns filing

Govt. releases a set of FAQs for traders, inter alia explains the benefits of GST including removal of non-creditable CST and entry tax, reduction in import landed costs and in turn, operating costs in light of input tax credit; A registered trader will have to pay tax on monthly basis on or before 20th of succeeding month alongwith returns in Forms GSTR-1, GSTR-2 and GSTR-3, whereas person who has opted for composition levy, will pay on quarterly basis on or before 18th...