the total cost becomes ₹105. Upon adding ₹50 in value to the product, he sells it for ₹155. The GST on ₹155 is ₹7.75, but he can claim an input tax credit of ₹5 for the GST paid on raw materials. Therefore, the net GST liability of the manufacturer is ₹2.75...
This is the case with Procurement certificate. Would also like to hear on the fate of CT3 for EOUs after the implementation of GST. Subba:On 03 September 2017 We are partnership firm involved in providing IT remote consulting services to clients outside India and get paid in foreign currency...
Why GST Is Must for Make in India?Kishore, Nand
taxgovtindia Website Status History The above graph displays service status activity for Gst.gov.in over the last 10 automatic checks. The blue bar displays the response time, which is better when smaller. If no bar is displayed for a specific time it means that the service was down and ...
HSN codes for GST in India All the states in the country have their own tax system for classifying the goods tax rate. But with GST regime there will be an uniformity all over the state which will harmonize the system of HSN for the goods and the service accounting code or SAC system...
How to Apply for GSTIN? Getting a Goods and Services Tax Identification Number (GSTIN) involves a straightforward process. Here’s a step-by-step guide onhow to get a GSTIN numberonline in India: 1. Login to the GST Portal Log in to the GST portal of India (services.gst.gov.in)....
In India, the tax system is unique and different compared to other countries. If you are running your business in India, I'm sure you have come across this term known as'GST Cess.' So, what is a 'GST Cess?' Let me start by explaining the word 'cess.' According to the dictionary,...
1. SGST - Good and Service Tax (GST) by States Government.2. CGST - Good and Service Tax (GST) by Central Government.3. IGST - Good and Service Tax (GST) on International Goods.These all are nothing but Central excise/Service Tax, VAT(Value Added Tax) and CST. To know more about...
A few days ago, the finance minister of India, Arun Jaitley announced that Indian government will impose GST of 3 % of the goods on gold. 有分析估计,倘若黄金税率从当前的1%-2%升至3%,消费者必须承担增税成本,对价格敏感的印度民众可能减少购买,今年印度黄金需求可能会降至650-700吨。
GST (Good and Service Tax) is a value-added tax applied to the cost of certain goods and services. Learn more about what GST is in this guide by QuickBooks.