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As per the above notification now the thresholds for rate of GST shall be based on sales value i e transaction value instead of MRP Now the question arises that what rate shall I use in order to get the TV from my MRP which is inclusive of taxes - GST Ra
22/2018-Integrated Tax (Rate) dated 26 July 2018, the concessional IGST rate on specified handicraft items is prescribed in accordance with the recommendations of the GST Council in its 28th meeting held on 21 July 2018. Notifications/Circulars for SGST/UTGST • Pursuant to Notification No. ...
Footwear Find BetterSolutionsBuild BetterProducts GST Billing & Return Filing Create GST invoices, multiple e-way bills & directly upload files in Excel, JSON or CSV format in GST portal and file GST returns Easy Accounting Manage finances effortlessly with Marg Pharmacy Software. From billing to ...
2. GST Rate For goods and services, if the taxpayer is aware of HSN/SAC code, he can easily determine the GST applicable rate. 3. GST Invoice When a seller issues an invoice for goods and services, he needs to mention the HSN/SAC code in the invoice, which is based on the total ...
CBIC has notified an increase in GST rate of various kinds of textiles, apparel and footwear to 12% from 5% earlier, which will be effective from January 1, 2022. However, GST rates for certain synthetic fibres and yarn have been lowered from 18% to 12%, according to the notification...
On the other hand, the MRP of some products, including FMCG products, has been reduced because of the reduced tax rate under GST. GST Rules for Change in MRP Due to Increase or Decrease in Tax As per the GST norms, a manufacturer is required to adjust the MRP of his/her products in...
Items such as fish fillet, apparel below Rs 1000, packaged food items, footwear below Rs 500, cream, skimmed milk powder, branded paneer, frozen vegetables, coffee, tea, spices, pizza bread, rusk, sabudana, kerosene, coal, medicines, stent, lifeboats, Cashew nut, Cashew nut in shell, Raisi...
(19) To reduce job work services rate for manufacture of leather goods (Chapter 42) and footwear (Chapter 64) to 5%. (20) To exempt services relating to admission to, or conduct of examination provided to all educational institutions, as defined in the notification. ...