What are the various tax rates of IGST and CGST/SGST? ARVIND KUMAR VARANASI
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Quick Summary
This discussion outlines the various Goods and Services Tax (GST) rates applicable in India, including 0%, 0.25%, 3%, 5%, 12%, 18%, and 28%. It clarifies that IGST applies to inter-state supplies, while CGST and SGST (or UTGST for Union Territories) apply to intra-state supplies. The post also provides information on GSTR 3B filing deadlines for May 2020, depending on turnover, and details the late fee structure.
GST rate in India is as follows:1)Tax exempted commodity, 0%, 0.25%, 3%, 5%, 12%, 18% and 28%. In Kerala, Flood cess is also levied. In the case of Composition Dealers, 1%, 2%&5%.For inter-state supplies, IGST rate. For intra state supplies, SGST and CGST rates.For Union Territory, UTGST rate.
If Turnover up to 5 Crore: Category A States : 12/09/2020 Category B States : 15/09/2020
If Turnover more than 5 Crore: 27th June, 2020
Late Fee: GST Return filed after New date but till 30-09-2020, the maximum late fee will be Rs 500. However, zero late fee will be charged in case of NIL GSTR 3B till 30-09-2020.
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