GST Rate and HSN Code in Construction Services GST, short for Goods and Services Tax, stands as an indirect tax that has superseded various other indirect taxes in India like excise duty, VAT, and services tax. The enactment of the Goods and Service Tax Act occurred in Parliament on March ...
GST is not payable on sale of Fresh vegetables, roots and tubers other than those in frozen or preserved state Potatoes, fresh or chilled falls under GST exemption list What is the concessional rate of GST on Tomatoes, fresh or chilled. Onions, shallots, garlic, leeks and other alliaceous ...
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Here’s how it may affect them: Pricing of End Products: The GST rate of 18% on steel products classified under HSN code 7214 can impact the pricing of goods that incorporate steel components. Consumers may experience changes in the prices of automobiles, household appliances, construction ...
What impact can the GST rate for aluminum structures have on construction projects? The GST rate for aluminum structures can increase the cost of construction projects that require the use of these structures. However, input tax credit can help reduce the overall cost....
GST is the result of combining all central taxes, such as sales tax, excise duty, surcharges, cesses, state VAT, luxury tax, purchase tax, entertainment tax, and so on into a single tax. The Goods and Services Tax (GST) is a single tax, but given the sheer number of basic commodit...
What are the Reasons for GST Notice? Types of GST Notice How to view or download the Notices issued by the GST officer? How to reply to GST notice online properly? 1. Accessing the GST Portal 2. Locating the Notice 3. Reviewing the Notice Details ...
Impact of GST on real estate developers Elimination of cascading taxes Under the previous tax regime, a real estate developer was subject to customs duty, excise duty, VAT and entry taxes on the construction material cost. In addition, on the services used, such as - labour charges, architect...
Whether transfer of tenancy rights to an incoming tenant, consideration for which is in the form of tenancy premium, shall attractGSTwhen stamp duty and registration charges is levied on the said premium, if yes what would be the applicable rates?
CONSTRUCTION OF LEASES – Intention of the parties – where lessee sub-lets property to short-term holiday tenants – where GST is payable on letting fees – whether GST is a “deductible expense” under the lease – whether burden of payable GST should be borne by the lessee or lessor O ...