Reverse charge mechanism under GST is a mirror image to the reverse charge mechanism which was under service tax as is applicable f Read More 01 Jan 1970Posted By: E-StartupIndia Scope of GST on Advocates There is a common perception in the market that providers of the legal services (...
Excise DutyGSTPetrolIntroduction of GST on July 1st, 2017 was the biggest tax reform in India. GST is applicable on almost all goods and services that one can think of however so fGulati, NeelamAdhana, DeepakSocial Science Electronic Publishing...
GST Council also expressed to make different GST rates applicable on coconut oil, i.e. 18 per cent on hair oil packing in less than 1 litre can and 5 per cent on more than 1-litre packing of oil in can. FM Smt. @nsitharaman is now getting to brief the media about the decisions t...
For the supply of goods, the value includes excise duty paid/to be paid (where applicable). In the case of imported goods, the value includes customs duty and excise duty paid/ to be paid (where applicable). Where value of supply is expressed in a foreign curre...
This is because it is collected by businesses at each stage of the supply chain while ultimately being paid by end consumers. Excise Duty: Excise duty refers to the taxation imposed on certain goods, e.g., alcohol, tobacco, and petrol usually used as a measure against consumption of ...
Reverse charge mechanism under GST is a mirror image to the reverse charge mechanism which was under service tax as is applicable f Read More 01 Jan 1970Posted By: E-StartupIndia Scope of GST on Advocates There is a common perception in the market that providers of the legal services (...
Five petroleum products petroleum crude, diesel, petrol, aviation turbine fuel and natural gas GST Council to decide the date from which GST will be applicable Alcohol for human consumption The power to tax remains with the State. Following taxes were brought into GST: Brought into GST Central...
12%: Under this tax slab, 12% tax is charged on the goods or services used. 18%: Under this tax slab, 18% tax is charged on the goods or services used. 28%: Under this tax slab, 28% tax is charged on the goods or services used. ...
Leasing of pumps and reservoirs by the OMCs to petrol pump dealers is a mixed supply and the Licence Fee Recovery (LFR) charged for the same shall be leviable to GST @ 28%, the rate applicable to pumps. Leasing of land and buildings along with equipment shall fall under heading 9972 (...
In the case of GST the ‘supply of goods and/or services’ is regarded as the taxable event. 2. Applicable on Supply: In the previous tax regime, the tax was applicable to the sale of goods or provision of services. However, in GST the word ‘supply’ has been used to cover all ...