The government also released new updates on the GST compensation cess to states. At IRIS GST, we had quite a happening month with two important product launches. Happy to announce the launch of IRIS LMS – India’s finest Litigation Management Software, developed by IRIS in collaboration with ...
with interest and gets the Bill of Entry reassessed, the refund of IGST on exports won't be considered a violation of sub-rule (10) of rule 96 of CGST Rules. The payment of IGST and compensation cess retroactively corrects the initial exemption, allowing the exporter to claim a refund ...
CAR TYPE GST RATES COMPENSATION CESS TOTAL Small Cars 28% 1% or 3% (depending on capacity) 29% or 31% Mid-segment Cars 28% 15% 43% Large Cars 28% 17% 45% Sports Utility Vehicles (SUV’s) 28% 22% 50% Electric Cars 12% N.A. 12% Numerical Comparison To understand the calculation...
The NIL GSTR 1 filing checkbox option under GSTR-1/IFF has been made available by the CBIC department Through three circulars, numbers 177, 178, and 179, the CBIC has clarified the new GST rate and exemption on specific services, penalties, and compensation. The July 2022 functions for GST...
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
The updated structure ensures that the essential items fall under lower tax brackets, while luxury products and services entail higher GST rates. The 28% rate is levied on demerit goods such as tobacco products, automobiles, and aerated drinks, along with an additional GST compensation cess. Issue...
4. Search for GST sections and sub-sections inside CGST Act, IGST Act, UTGST Act and Compensation Cess Act. 5. Search for CGST Rules inside Central Goods & Services Tax Rules 6. Search inside GST Case Law , Notifications, Circulars, Orders and FAQs ...
Compensation Cess of 0.1 percent on taxable goods supplied to exporter Posted On January 20th, 2025 Exemption from customs duty on imports by Inspection Team of IAEA Posted On January 20th, 2025 Form GSTR 3B filing date extended for assessees in Manipur ...
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
The government also released new updates on the GST compensation cess to states. At IRIS GST, we had quite a happening month with two important product launches. Happy to announce the launch of IRIS LMS – India’s finest Litigation Management Software, developed by IRIS in collaboration with ...