Learn about GST rates on food items and restaurants in India. Explore how 5%, 12%, and 18% GST apply to various food services and it Impact on your expenses.
Covers standard goods and processed food items, balancing affordability with quality. 18% The most common rate, applied to a wide range of goods and services including electronics, commercial vehicles, and financial services. 28% Reserved for luxury items, entertainment, and gambling services, reflect...
The government is working tosimplify the Goods and Services Tax (GST)following the revision of income tax slabs in theUnion Budget 2025-26. Among the proposed changes is the elimination of the 12% GST slab. Currently,the average GST rate has decreased from 15.8% to 11.3%, with no tax hik...
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...
Under the Import GST Deferment Scheme, your business can pay the GST on imports when submitting the monthly GST returns. This indicates GST payments can be done after the importation process. Things to note on the GST rate change from 8% to 9% on 1 Jan 2024 ...
Additionally, it allows businesses to pay GST at a fixed rate on their turnover, which is lower than the regular tax rates. 3. Casual Taxable Person A casual taxable person occasionally supplies goods or services in a place where GST applies but does not have a fixed place of business ...
Service Tax under GST There is a differential tax structure under GST. A tax rate of 5% is imposed on essential services. Commercial services are charged at the rate of 18%, whereas standard services at 12%. Services provided by educational institutions are exempted from service tax. ...
A proposal to reduce Canada’s Goods and Services Tax (GST) rate from 7% to 6% was approved in the May 2, 2006 Federal Budget. The new rate, effective July 1, 2006, will have no effect on the Goods and Service…Join 18,000+ sales tax pros who get weekly sales tax tips. The Sale...
Leasing of land and buildings along with equipment shall fall under heading 9972 (real estate services) and attract GST rate of 18% GST is exempt on the supply of food and drinks by an educational institution when provided by the institution itself to its students, faculty and staff and is ...
A rate of 0.25% applied to cut and semi-polished stones. A 5% tax on household necessities such as sugar, spices, tea, and coffee. A 12% tax on computers and processed food. An 18% tax on hair oil, toothpaste, soap, and industrial intermediaries. ...