The rate of GST for tobacco, cigarettes and other tobacco products is expected to be imposed at highest rate of tax. The expected rate of GST on cigarettes, tobacco and other related products are expected to charge 28% GST with additional cess. GST rate payable for goods or service, click ...
It will be mandatory for the businesses to generate the entire GST e-invoice including all the value of sales. The assessee whose turnover is more than Rs 500 crore in the previous fiscal year from 2017-18. (Notification No. 13/2020 Dated 21/03/2020), Rs.100Cr From 01/01/21 to 31...
Under the Goods and Services Tax Regime (GST), when a builder sells a house or building to end customer, GST will be calculated at the rate of 18 percent only on two-third of the total house value. The net GST rate thus would become 12% of the total cost of the house. The reducti...
Recently, on June 28 and June 29, 2022, the GST Council held the much talked about 47th GST council meeting and have made several big changes in terms of compensation cess, rate changes, and also decisions pertaining to ease the compliance for taxpayers. In June, taxpayers faced several issu...
-Seeks to amend Notification 11/2021-Customs dated 01.02.2021 to amend AIDC rate (Agriculture Infrastructure and Development Cess) on Bourbon whiskey February 13, 2025 SEZ -Central Government re-notifies an area of 10.9368 hectares at Village Ognaj, Taluka Dascroi, District Ahmedabad in the State...
A recent notification from the CBIC mandates taxpayers to use GSTR-2B data instead of GSTR-2A for reconciling input tax credit (ITC) in Form GSTR-9. The CBIC has published new circulars (234, 235, and 236) that provide clarifications on GST rate classifications and the rationale behind re...
13 entries shifted from 18% rate slab to 12% rate slab 6 entries shifted from 18% rate slab to 5% rate slab 8 entries shifted from 12% rate slab to 5% rate slab 6 entries shifted from 5% rate slab to exempt category Some of the key goods where tax reduction has been proposed are ...
Articles of knitted apparel, clothing accessories or crocheted falls under HSN code chapter 61 of GST commodity tariff schedule. The details about GST rate changes for sale of Articles of knitted apparel, clothing accessories or crocheted are being updated here. The notification changes on exemptions...
Currently, 12 per cent GST is levied in non-AC restaurants and 18 per cent in air-conditioned ones. These measures are expected to cost the exchequer around Rs 20,000 crore, government officials said. Items for which the GST rate has been cut from 28 per cent to 18 per cent include ...
Notification No. 49/2017 Integrated Tax (Rate) DT on 14th November, 2017, GST Seeks to amend notification No. 9/2017-IT(R) so as to extend exemption to admission to “protected monument” and to consolidate entry at Sl. No. 12A & 12B. ...