GST Circular 27/2024 dated 11-9-2024: Clarification regarding regularization of refund of IGST availed in contravention of rule 96(10) of CGST Rules, 2017, in cases where the exporters had imported certain inputs without payment of integrated taxes and compensation cess. 54th GST Council Meeting...
Setting Up GST Compensation Cess Below is the list of setups, that will be pre-configured with the help of Tax Engine Tax Types Component Rate Setup Attributes For more information about Automatic Setup, seeTax Engineinformation. Below is the list of setups, that are required to be configured...
Find more about the GST Cess rateshere. How to calculate Compensation Cess? For example, Company ABC supplies two cars that are worth Rs. 200,000 each to T&T Company in the same state, Karnataka. The cess rate is 1%, and the GST rate applicable to motor cars is 28%. The calculation...
By realizing the fact about 6.7 per cent growth rate during 2008-09, the Finance Minister said “India is rising as the second-fastest growing economic country in the world.” Furthermore, he said, the core sector industries, as well as crude oil, coal, cement and steel, during April 200...
The Andhra Pradesh High Court has held that no exemption from payment of compensation cess under the Goods and Services Tax (GST) is available on import of goods by units in Special Economic Zones (SEZs). This decision was taken in the case of Maithan Alloys which was engaged in the ...
You may copy and use this document for your internal, reference purposes. • It is applicable only on notified goods. These goods as on date are pan masala, tobbaco and tobacco products, coal, aerated waters, motor cars & motor vehicles and any other supplies. • GST Compensation Cess ...
In a federal structure, India's determination to much-needed fiscal reforms has been widely applauded at its face value when she relinquished her previ
-Seeks to amend Notification 11/2021-Customs dated 01.02.2021 to amend AIDC rate (Agriculture Infrastructure and Development Cess) on Bourbon whiskey February 13, 2025 SEZ -Central Government re-notifies an area of 10.9368 hectares at Village Ognaj, Taluka Dascroi, District Ahmedabad in the State...
01/2019-Compensation Cess To be published in the Gazette of India Extraordinary Part II Section 3 Sub section i Government of India Ministry of Finance Department of Revenue Notification
If you the products you're selling attract Cess, it will be auto-populated in the system. Products that attract Cess are motor cars, coal, solid fuels, aerated waters, pan masala, motor vehicle design to transport people, and tobacco products. Compensation cess applies to interstate sales, in...