Interest benefit is due date +15 days of grace period post which 9% interest rate will be applicable, so due date becomes 20th May + 15 days Income Tax: The CBDT vide the Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020 dated 31-03-2020 has extended all respec...
The GST Gross and Net Collections for January 2025 have been published on the official portal. The CBIC has released a new instruction regarding the Ministry of Civil Aviation (MoCA), along with a Gazette Notification related to Integrated Tax (Rate). Top GST News for the month of January 20...
Amended Section 115BBE for Unaccounted Income Introduction: Section 115BBE was introduced to curb tax evasion by imposing a higher tax rate on unexplained income covered under Sections 68, 69, 69A, 69B, 69C, and 69D. This provision gained significant relevance post-demonetization(2016), as the...
What is the rate of GST and when will GST be implemented? The current GST rate is prescribed at 6% of the value of the goods and services supplied. The effective date for the implementation of GST is 1 April 2015 Are services rendered by SCB subject to GST? Fees, commission and service...
Transport of specified goods as per Annexure to Rule 138(14), goods treated as no supply in Schedule III, and certain goods in Schedule to Central Tax Rate notifications. What is the Validity of the e-Way Bill? This section explains the duration for which an E-Way Bill remains valid, pr...
GST Rate finder & GST news application enables user to get the latest news and articles about the updates regarding the GST in India. Search the entire list or goods and services categories of taxes for Goods and Services. 1. Find HSN/SAC Code with product level Tax rates ...
Streamlined Taxation:The HSN code helps identify the specific product category, which directly determines the applicable GST rate. This simplifies tax calculation and administration for businesses.. International Trade:The HSN code acts as a universal product identifier, ensuring consistent classification acr...
The GST Gross and Net Collections for January 2025 are now available on the official portal. Read PDF The CBIC’s new instruction relating to the Ministry of Civil Aviation (MoCA), the Department of Revenue has issued Gazette Notification No. 08/2024 – Integrated Tax (Rate) on October 8,...
1. Interest Rate for Late Payment 18% Per Annum: This interest rate is applicable if there is a delay in paying the GST liability, including taxes, interest, or any other amount payable under the GST law. 24% Per Annum: This higher rate applies in cases of undue or excess claim of in...
Update your price displays, inclusive of the new GST rate of 9%. Review your contracts and agreements and update all parties on the new rate charged/borne by each of them. Inform your customers of the impending change through advertising, your official website, brochures and social media. ...