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GST Council decisions on Composition Levy & GST rate on certain goods


RECOMMENDATIONS REGARDING THE COMPOSITION LEVY AND GST RATE ON CERTAIN GOODS As per discussions in the 17th GST Council Meeting held on 18th June 2017 I The Turnover Limit for the Composition Levy 1 The GST Council in its meeting held on 11th June 2017 had recommended increase in the turnover limit

Reduced Liability of Tax on complex, building, flat etc under GST


The CBEC and States have received several complaints that in view of the works contract service tax rate under GST at 12 in respect of under construction flats complex etc the people who have booked flats and made part payment are being asked to make entire payment before 1st July 2017 or to face hi

Reduced tax liabilities under GST regime for 89 items


The new indirect tax regime in the country is to come into effect from 01 07 2017 wherein fixation of GST rates on the supplies is joint responsibility of the Central and State governments after the approval from the GST Council In a majority of supplies of goods the tax incidence approved by the GS

Govt emphasizes that GST will be rolled out on 1st July


Government emphasizes that Goods and Services Tax GST is scheduled to roll out on 1st July 2017 CBEC in coordination with the State Governments has increased their Outreach Programmes so as to reach the last trader The Government of India has emphasised that Goods and Services Tax GST is scheduled t

Final GST Registration Rules and Format of Forms


CHAPTER REGISTRATION 1 Application for registration 1 Every person other than a non resident taxable person a person required to deduct tax at source under section 51 a person required to collect tax at source under section 52 and a person supplying online information and data base access or retriev

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Experts Opinions

Service tax credit in ccr 2004


we hv mgf excise able unit LED TV we have given Advertisement for Saes Pramoition in local news paper through agent agent issue invoice with ST 2 1 on amount which is mention in invoice we have taken service tax credit under CCR 2004 and set off against payable excise it is correct or not My second

Service tax post gst


HiWhat will be service tax case after GST Suppose in case I want to make any service tax is it possible Thanks

Income tax return


How to file income tax return if there are two Form 16 due to switch the company in mid of the year

Tax invoice in gst era


is it mandatory to prepare the tax invoice in computer or it can be made manually containing the all the particulars as per tax invoice rules

Input tax on stock


Dear All I have a client who is registered in Delhi VAT as Normal Dealer but want to transfer in GST as Composition Dealer What is his position for Input Tax on Closing Stock held on 30 06 2017 Regards Rajeev

Discussion

How Would GST Tax Rates Impact Your Travel Wish?

Come July 1 2017 India is set to embrace a new indirect taxation culture in the form of Goods and Services Tax GST which is arguably the biggest tax reform since independence After years of working out the taxation structure through GST the government finally came with four different tax slabs of 5

input tax credit applicability in case of merit gst rate supplies

kindly clarify input tax credit applicability in case of merit gst rate supplies

Reverse charge - service tax

Reverse charge is applicable in case of Insurance Agents A person provides Insurance services worth Rs 5 lakhs for a financial year However the Insurance Company deducts Service tax amount even though the turnover has not crossed 10 lakhs for that year stating it as reverse charge Is it justified to

Tax rate under composition scheme

I am running a grocesory shop and I want to know the tax rate for my turnover

Income tax for salaried person doing small business.

Hi all I am salaried person doing small cab business Is it good to separate income from cab using current account will there be any tax benefit I heared of some small business tax exemption up to 10 Lakhs

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Payment of tax, interest, penalty and other amounts under GST


Payment of tax interest penalty and other amounts under GST in 10 points 1 In the GST regime for any intra state supply taxes to be paid are the Central GST CGST going into the account of the Central Government and the State UT GST SGST going into the account of the concerned State Government For an


Filing of GST return by a normal taxpayer along with Rules and forms


Filing of GST return by normal taxpayer under GST along with Rules and forms in 10 simple points 1 Every person registered under GST will have to file returns in some form or other A registered person will have to file returns monthly normal supplier in GSTR 1 GSTR 2 and GSTR 3 2 A normal registered


GST Council lowers rates for 66 items, increases limit for Composition Levy


The all powerful GST Council headed by the Hon ble Finance Minister Mr Arun Jaitley met for the sixteenth time with an agenda to review the rates on basis of representation made by the Industries Traders take up pending Draft Rules Ahead of this meeting we have moved one step more closure towards GS


A brief introduction of taxes to be subsumed under GST


GST is all set to roll out from 1 July 2017 Broadly GST is referred as One nation one tax GST is one indirect tax for the whole nation converting India into the single unified market GST is a single tax on the supply of goods and services right from the manufacturer to the consumer Credits of input


Acquisition of Fixed Assets and their Deferred Tax Impacts


Accounting and Taxation treatment of Interest on borrowings Foreign exchange fluctuations related to acquisition of Fixed Assets and their Deferred Tax Impacts In this discussion we would understand the accounting and taxation treatment of interest on funds borrowed for acquisition of capital assets


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Updated on : 6/19/2017 5:30:30 PM


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