EXAMPLE 5 Happy Sdn Bhd sold some furniture to its distributor and the goods were delivered on 18 January 2016. The tax invoice for the transaction was issued on 2 February 2016 and the company received payment on 30 March 2016. Based on this scenario, the basic ...
GST Rate on Furniture Manufacturers Running a business in India comes along with paying taxes to the IndianGovernment. This goes unsaid and if you are a business owner or a manufacturer,you cannot run away from this information. GST[https://www.deskera.com/blog/gst-india-goods-services-tax/...
Section 2(11) of the Income Tax Act, 1961 (IT Act) defines block of assets to mean “”block of assets” means a group of assets falling within a class of assets comprising— (a) tangible assets, being buildings, machinery, plant or furniture; (b) intangible assets, being know-ho...
Find the latest GST rates for over 20,000 goods and services at IndiaFilings: Get accurate GST tax rates, HSN codes, and SAC codes for easy and precise calculations.
No GST tax on sale of Condoms and contraceptives No GST payable on Firewood or fuel wood Exempted GST on Wood charcoal (including shell or nut charcoal), whether or not agglomerated No GST payable on sale of Judicial, Nonjudicial stamp papers, Court fee stamps when sold by the Government Tr...
Also, under the old excise and VAT regime, the tax from 28% has been reduced to 18% on household 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...
raw materials like wood for Rs 50,000 at a GST of 18%. Rs 9000 will be the tax filed. You sell the furniture that has been made for Rs 1 lakh and charge an 18% GST which amounts to Rs 18000 through your client. Rs 1.18 lakh is the revenue incurred through selling the furniture...
The taxpayer has to pay tax at normal rates for transactions under the Reverse Charge Mechanism (RCM) If a taxable person has different segments of businesses ( such as stationery, medicines, electronic accessories, furniture etc.) under the same PAN, they must register all such businesses under...
Introduction to GST Number : 08BJDPA9498R1Z9- Dealer Name (Trade Name) TANWAR FURNITURE AND TRADERS Legal Name of Business MUSTAK ALI GSTIN of the Tax Payer 08BJDPA9498R1Z9 Principal Place of Business Address 29 GANESH NAGAR, CHOUDHARY COLONY District Jaipur (Rajasthan) PIN Code 332001 PA...
Full List of 177 items with updated GST Tax rate at 18%: Item 1704 Description of Goods Chewing gum / bubble gum and white chocolate, not containing cocoa Cocoa butter, fat and oil Cocoa powder, not containing added sugar or sweetening matter Chocolates and other food preparations containing ...