Salman, Malik MohammedJournal of IMS Group
The Goods and Services Tax Act was passed by Parliament on March 29, 2017, and came into effect on July 1, 2017. This pivotal reform marked a significant shift in India’s tax landscape, intending to reduce the tax burden on businesses and consumers while promoting a unified market across ...
Read Also: GST Impact on Cars and Spare Parts Industry in India GST Impact on FMCG The FMCG sector is also getting some benefits due to the new taxation regime, It is experiencing notable savings in logistics and distribution costs. It happens because the GST has eliminated the need for mult...
However, the input tax credit is not available on cars unless you are in the business of providing driving training or supplying such cars. In a situation where service is offered/supplied, should the credit be given to the state where the bill is generated or the state it is received?
Recommended: GST Impact on Cars and Spare Parts Industry in India According to the sources, discussions with the finance ministry are in the process concerning some issues related to the new tax structure for UVs, seeking clarity on the parameters set by the Council. The source also pointed out...
Fraud call in the name of Fedex, Drugs and Aadhar misuse September 15, 20230 How to get HSRP to your Vehicles ?- Two and Three wheelers, Light Motor Vehicles, Passenger Cars ? PUBLIC NOTICE KIND ATTENTI ON : VEHI CLE OWNERS As per the Government of Karnataka Notification No.TD 193 TDO...
Let's go through the steps below to view how the GST is computed on Deskera Mobile App. Select the right HSN code Pick the right HSN code auto-populated from the system 1. Tap on the 'Product' Icon. 2. Create a new product as per usual. For India, you will need to indicate the...
• It extends to the whole of India except Jammu & Kashmir b. Components of GST: Component Levied by Central GST Centre (CGST) State GST (SGST) States Integrated GST Centre (IGST) Applicable on Intra-state supply of goods or services in India Intra-state supply of goods or services in...
Discover the updated GST tax slab rates in India for FY 2024-25. Learn about what's included in the GST rates of 5%, 12%, 18%, and 28% in this post.
Prime Minister Narendra Modi reviewed the preparations for the new indirect tax regime — GST. More Attention towards Cyber Security A Look at the Tax Structure for Footwear and Readymade Garments Impact of GST on Different Cars in India reducing the Tax rate for Luxury cars to 42-43% from ...