The implementation of GST and new GST slab rates has brought several advantages to mobile phone dealers: Simplified Tax Structure: The uniform 18% GST rate across India under HSN code 8517 replaced the complex VAT system, reducing compliance burdens and operational complexities. Input Tax Credit (...
GST on Live sheep and goats is nil rate. No GST payable on sale of Live poultry, that is to say, fowls of the species Gallus domesticus, ducks, geese, turkeys and guinea fowls. Other live animals such as Mammals, Birds, Insects] falls under GST exemption list Concessional rate of GST ...
12%: Under this tax slab, 12% tax is charged on the goods or services used 18%: Under this tax slab, 18% tax is charged on the goods or services used 28%: Under this tax slab, 28% tax is charged on the goods or services used Note:Precious metals like gold are exempted and plac...
GST Council okays 5-28 pc four-slab tax rate; luxury, sin, coal to be taxed IANS - November 4, 2016 Conceding to stakeholders' demands, the Goods and Services Tax Council on Thursday arrived at a consensus of four bands of tax between 5 per cent and 28 per cent, while agreeing to...
The GST Council periodically revises the items under each slab rate to adjust them according to industry demands and market trends. The updated structure ensures that the essential items fall under lower tax brackets, while luxury products and services entail higher GST rates. The 28% rate is le...
Let’s all the important GST Updates announced in December 2024. Changes in GST … Read more Categories Business Updates, GST Tags GST Exemptions, GST on Gene therapy services, GST on Ready-to-Eat Popcorn, GST rate on Fortified Rice Kernel, GST rate on old and used vehicles, GST Taxation...
Choose the applicable GST slab based on your service provided. 3 Select the appropriate "Supply type" for your transaction. 4 Hit the "Calculate" button to instantly get your GST calculation. GST Rates Applicable in India: A Brief Overview ...
For this, many goods are being shifted from one slab to another depending on their usage and the trade. Though it may require some preparation work for professionals to effect such a transition, there are various automated GST compliance solutions to support the process. Frequently Asked ...
goods including wristwatches, sanitary plastic ware, doors, and windows, furniture, and mattresses. Previously essential electronics like mobile phones, TVs up to 32 inches, refrigerators, washing machines, geysers, and fans were taxed at 31.3% but these are now counted under the18% GST slab. ...
theGST ratesbracket. It’s clear that the government’s intentions are to have lower tax rate for goods and services which are essential needs and higher tax rates for goods and services that are considered as luxury supplies. Confused about which tax slab do your products/services fall under...