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Rate and HSN Code in Construction Services GST, short for Goods and Services Tax, stands as an indirect tax that has superseded various other indirect taxes in India like excise duty, VAT, and services tax.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 ...
The above information about GST rate on commodities under HSN code mentioned above commonly clarifies on questions explained under: Goods and Service Tax slab on textile book covered paint canvas, fabric, tracing cloth GST slab on tire cord fabric of high tenacity nylon, yarn GST slab rateonrubbe...
GST Rate If the taxpayer knows the HSN code, they can easily find the applicable GST rate. GST Invoice During issuing of an invoice for goods and services, the seller has to mention the HSN code GST Returns While filing GST returns, a taxpayer has to provide the HSN summary. Conclusi...
Thus Authority for Advance Ruling (AAR) held that the petitioner supplies a combination of supply that consists of fabrication of steel and paint to the erected steel structures and these are subjected to be taxable at the rate of 12% in terms of the provisions under section 8(b) of the ...
a. If VAT is paid on actuals with ITC (say, material cost + margin = 73 percent) when the material cost is determinable. Then STR can be paid at the current rate of 27 percent x 15 percent. The excise charge of 12.5 percent on the commodity in this example ( 7% ) is also an...
Also, the GST rate for works contract has been fixed at 18%. This not only eliminates the dual treatment of works contract, but also makes life easier for a contractor and sub-contractor by subsuming all the previously applicable taxes, again a positive GST impact on real estate developers....
Higher Rate NIL Rate (0%) Under this category, the GST council has decided to exempt or not charge any taxes on a few of the basic commodities. Most of the items in the Consumer Price Index (CPI) comes under the zero rate. Basically, in simple words, no GST will be charged on thes...
BERLIN (AP) — Tigst Assefa broke the women's world record by more than two minutes Sunday at the Berlin Marathon, as Eliud Kipchoge won the men's race for the fifth time but couldn't break his own record.
A uniform tax rate of 1% has been proposed for composition scheme for both traders and manufacturers. For traders, the tax will be applied only on the turnover of the taxable goods and not on total turnover. However, in order to decide the eligibility under the composition scheme, total tu...
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