Processing Charges: The primary focus of GST is on the processing charges of personal loans. Since these charges vary among lenders, the applicable GST can differ based on the chosen financial institution and its fee structure. Loan Amount and Time Duration: While GST is not directly applied ...
GST is not payable on Human hair, unworked, whether or not washed or scoured; waste of human hair Semen including frozen semen. GST on Live trees and other plants; bulbs, roots and the like; cut flowers and ornamental foliage is nil rate. GST is not payable on sale of Fresh vegetables...
Taxpayers must fill in their monthly or quarterly GSTR 1 form in January to avoid penalty charges. In this regard, you can read our guide on everything you need to know about form GSTR 1. Since 31st December is the due date to file GSTR-9 for a financial year, taxpayers who haven...
If the GST Registration is on a compulsory basis, then processing time will be 10 working days. If the GST Registration is on a voluntary basis, then processing time will be around 1 month. Once the application for Registration is filed by the applicant and is processed, the authorities have...
9. Collect ITC on Bank charges Bank charges like processing fees and unit inspection charges also need to be claimed timely. Cash Credit accounts with banks have to pay ‘processing charges’ for renewal of C/C limits and also have to pay unit inspection charges which are directly debited...
This has diminished double taxation, cascading effect of the tax, the multiplicity of charges, class issues, chargeable occurrence, etc. and begin to a typical interstate market. 1. What is the importance of Goods and Service Tax? Based on most assets and services which is traded for ...
GST Return Under the Composition Scheme Difference Between GSTR-2A and GSTR-2B E-Way Bill Generation on Mobile GST on Labour Charges: HSN Code for Labour Charges GST Sahaj Return See all the news Click here See all Blogs on Return Filings in India...
As of the latest GST guidelines, businesses providing photography and videography services are required to charge 18% GST on their services. In order to avoid penalties, you must get GST Registration if eligible and then also file GST Returns on time.Voluntary GST registration is also encouraged...
In short, it’s worth checking up on your registration status to avoid any needless slip ups. When do you need to charge for GST? If you’re registered for AUS GST, all goods and services you provide are taxable unless they’re GST-free or input taxed. Most basic food items, some ...
Interest on Late Payment of GST Late payment of GST attracts interest charges as per the provisions of the GST law. Here’s a detailed look at how it works: 1. Interest Rate for Late Payment 18% Per Annum: This interest rate is applicable if there is a delay in paying the GST liabi...