The case involved the imposition of luxury car tax and GST and the characterisation of the taxpayer’s “purpose” in displaying a number of luxury motor vehicles in a “car museum” in circumstances where each of the vehicles was available for sale and was, in fact, sold. Were the vehicle...
Providing latest updates on Direct and Indirect Tax laws including income tax and GST, with Corporate Laws which are being used by the professionals and business entities in day to day activity.
On motor vehicles and other conveyance ITC is not allowed on motor vehicles and other conveyance unless they are: Further supplied OR Used for transporting passengers or goods OR Used for imparting training on driving, flying, or navigating such vehicles or conveyances ...
Terms of payment: Net 30 days After the sale Some businesses give volume discounts after they make the sale and collect or charge GST/HST. The customer usually earns this type of volume discount over a period of time (e.g., over a year) and not on a sale-by-sale basis. In this ca...
Accommodation and motor vehicles supplied by an employer to their staff Retail supply of newspapers Lotteries and other games of chance plus postage stamps. GST returns must be lodged monthly by registered persons. The Internal Revenue Commission has allowed in the past for business entities that are...
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 is calculated on taxable value. Though it is coined as Cess it is similar to tax. It is independent of IGST, CGST ...
Under GST, the Central (CGST) and state government (SGST) share the authority to levy and collect taxes on goods and services. In the case of Inter-state transactions, Integrated GST (IGST) is applicable. Essential Features of GST Multiple Tax Levels: India’s GST system has multiple tax ...
Seats other than those for aircraft and motor vehicles are specified to be taxed at 18%.A new entry (S. No. 210A) is introduced for seats used in motor vehicles, taxed at 28%. The amendment adds a new entry (S. No. 8) to the table, specifying that the supply of metal scrap ...
e-books with an international standard book number (ISBN) ; online journals newspapers; TV licence; some social housing; some agricultural supplies; certain social services; motor vehicles for the disabled; construction work on new buildings (for first housing); supplies of new buildings (for first...
In India, an eight-digit HSN/SAC code is used instead of a six-digit code. The first two digits stand for the chapter in which the goods or services will list in the Code List. The next two digits are the chapters, and the next two digits are for products. The last two digits ...