GST applies to under-construction properties at varying rates. Until March 31, 2019, the rate was 12%, which was subsequently revised. From April 1, 2019, non-affordable housing properties are taxed at 5%, while affordable housing properties incur a tax rate of 1%. This has streamlined taxati...
Tax rates on the number of items have been reduced by the government from 18 per cent to 12 per cent and also from 12 per cent to 5 per cent. Some of the items on whichGST rateshave been reduced from 28 per cent to 18 per cent namely chocolates, custard powder, sanitary ware, dent...
Goods and Service Tax (GST) rate tariff in India is designed in 6 categories of goods and services. Four main GST rate slabs framed with Essential goods and services, Standard goods and services and luxury goods and services with 5%, 12%, 18% and 28% respectively. Commonly used Goods and...
List of 18% GST rate items as per schedule III approved in the Goods and Services Tax Council meeting. IGST @ 18%, CGST @ 9%, SGST/ UTGST @ 9%.
It builds upon the global 6-digit HSN code by adding two more digits for further product categorization. This GST HSN code system serves two key purposes:: Streamlined Taxation: The HSN code helps identify the specific product category, which directly determines the applicable GST rate. This ...
Find your product's HSN Code and GST Rate using our HSN Code Finder with which you can search by product name or code, and you can also use the category list to identify your HS Code.
They use their warehouse to store and sell their inventory of items.ExampleE-commerce operators is involved in supplying goods. Goods are supplied at a price of Rs. 600 (intrastate). The rate of Central GST (CGST) is 5 percent. The rate of State GST (SGST) is 5 percent. The rate of...
The value of a supply is the value on which GST is chargeable. Therefore, it is important to determine the correct value of supply so that the appropriate GST amount can be ascertained. The amount of GST is the value multiplied by the tax rate. The value of ...
The CGST tax rate will auto-populate (based on the universal HSN/SAC codes generally built-in software). Then, select the unit, quantity, and any discount/incentives.IGST or CGST & SGSTfor the selected goods/services will be automatically shown. ...
which went into effect in 1988. The WCO's primary objective in implementing HSN codes was to define all commodities in a structured manner. It removes ambiguity and facilitates international trade and investment between countries. HSN codes are used for trading over 20,000 items between nations ar...