tax rates

Income Tax Slabs for AY 2018-19 / FY 2017-18

Income Tax - Tax Rates 1. In case of an Individual (resident or non-resident) or HUF or Association of Person or Body of Individual or any other artificial juridical person Assessment Year 2018-19 Taxable income Tax Rate Up to Rs. 2,50,000 Nil Rs. 2,50,000 to Rs. 5,00,000 5% Rs. 5,00,000 to Rs. 10,00,000 20% Above Rs. 10,00,000 30% […]...

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Rate of GST on Services updated till 03.07.2017

Income Tax - The e-book contains Rate of Tax on Services as applicable after considering all Notifications, Circulars etc issued by CBEC from time to time till 3rd July 2017 and includes Services taxable at Nil Rate of Taxation, taxable at the rate of 5%, taxable at the rate of 12%, taxable at the rate of 18%, taxable at the rate of 28% and GST On Sup...

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GST Rate Chart on Services & List of Services Exempt from GST

Income Tax - The Article Covers Rate Chart of Goods and Services Tax (GST) applicable on 35 specifically mentioned services and on all other services with availability of Input Tax Credit and List of Services Which are Exempt from Goods and Services Tax. ...

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Chart of Services Under Reverse Charge as approved by GST Council

Income Tax - Articles covers list of services that will be under reverse charge as approved by the GST Council and Percentage of GST payable by service provider and any person other than Nthe service provider. SERVICES UNDER REVERSE CHARGE AS APPROVED BY GST COUNCIL The fitment of rates of services were discussed on 19 May 2017 during […]...

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Why Rates of Income tax announced in February 2017 budget is applicable for Income Earned in Financial Year (F.Y.) 2017-18 and not for F.Y. 2016-17?

Income Tax - For a leman it is difficult to understand that on which rate the Income Tax is calculated on the Income Earned in the F.Y. 2016-17, whether the rates which are announced in Budget 2017 or on the rates announced in Budget 2016. Even if someone would know which rates would be applicable, but would not know the reason for the same....

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17th GST Council meeting- Decisions on rates for Services & on Lottery

Income Tax - . It has been decided in respect of the service of transport of goods by a vessel that GST rate of 5% will be available with ITC in respect of input services and GST paid on ships, vessels including bulk carriers and tankers....

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GST Service: Amendment in Tax / Registration exemption and Rates

Income Tax - 1. In the list of service tax exemptions to be continued in GST as approved by the GST Council, after S.No. 83, the following shall be inserted –...

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Revised GST rates on goods approved by GST Council on 11.06.2017

Income Tax - GST council has revised GST rate more than 66 items in its meeting held on 11th June 2017. In its meeting council has revised the rate downward on most of the items. Rates on most goods has come down from higher rate to comparatively lower rate. In some cases rate has come down from 28% to 0% also....

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GST Rate Schedule For Certain Goods (3rd June 2017)

Income Tax - GST RATE SCHEDULE FOR CERTAIN GOODS [As Per Discussions In The GST Council Meeting Held On 3rd June, 2017] Download GST Rate Schedule For Certain Goods (As approved by GST Council on 3rd June 2017) Also Read- 1 » IGST Exemptions/Concessions List under GST- dated 03.06.2017 2 » Addendum to the GST Rate Schedule – […]...

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Addendum to the GST Rate Schedule – 03.06.2017

Income Tax - ADDENDUM TO THE GST RATE SCHEDULE FOR GOODS [As per discussions in the GST Council Meeting held on 3rd June, 2017] The following amendments/ additions are required to be made to the aforesaid document: 1. In Chapter 15, in the 18% rate column, the part entry from 1517 relating to edible mixtures of vegetable fats […]...

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Short term capital losses subject to STT can be set off against Short term capital gains not subject to STT

First State Investments (Hongkong) Ltd. [A/C First State Asia Innovation & Technology Fund] Vs. ADIT (ITAT Delhi) - The Finance Act, 2004 introduced section 111A in the Income-tax Act, 1961 (the Act) prescribing a tax rate of 10 percent on Short Term Capital Gains (STCG) arising from sale of shares on or after 1 October 2004 on a stock exchange which are subject to Securities Transaction Tax (STT)....

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If there is no revenue loss then department should not question the year of allowability of expenses

Commissioner Of Income Tax Vs M/s Vishnu Industrial Gases P. Ltd. (Delhi High Court) - CIT vs. Vishnu Industrial Gases (Delhi High Court) - Where the department had not disputed that the expenditure was deductible in principle but was only disputing the year in which the deduction could be allowed HELD, castigating the department, that as the tax rates were the same in both years, the...

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List of Goods exempt from integrated tax under IGST Act, 2017

Notification No. 2/2017-Integrated Tax (Rate) - (28/06/2017) - G.S.R. (E). - In exercise of the powers conferred by sub-section (1) of section 6 of the Integrated Goods and Services Tax Act, 2017 (13 of 2017), the Central Government, being satisfied that it is necessary in the public interest so to do, on the recommendations of the Goods and Services Tax Counci...

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Recent Posts in "tax rates"

Income Tax Slabs for AY 2018-19 / FY 2017-18

Tax Rates 1. In case of an Individual (resident or non-resident) or HUF or Association of Person or Body of Individual or any other artificial juridical person Assessment Year 2018-19 Taxable income Tax Rate Up to Rs. 2,50,000 Nil Rs. 2,50,000 to Rs. 5,00,000 5% Rs. 5,00,000 to Rs. 10,00,000 20% Above Rs. 10,00,000 30% […]...

Read More

Rate of GST on Services updated till 03.07.2017

The e-book contains Rate of Tax on Services as applicable after considering all Notifications, Circulars etc issued by CBEC from time to time till 3rd July 2017 and includes Services taxable at Nil Rate of Taxation, taxable at the rate of 5%, taxable at the rate of 12%, taxable at the rate of 18%, taxable at the rate of 28% and GST On Sup...

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Ready Reckoner – GST Service Rates

Right before the roll out of GST, let’s have a quick recap of the list of rate of services, approved by the GST Council in its 14th Meeting with related amendments, so far covering the Services under Reverse Charge and Services Exempted under GST....

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List of Goods exempt from integrated tax under IGST Act, 2017

Notification No. 2/2017-Integrated Tax (Rate) (28/06/2017)

G.S.R. (E). - In exercise of the powers conferred by sub-section (1) of section 6 of the Integrated Goods and Services Tax Act, 2017 (13 of 2017), the Central Government, being satisfied that it is necessary in the public interest so to do, on the recommendations of the Goods and Services Tax Council...

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17th GST Council meeting- Decisions on rates for Services & on Lottery

. It has been decided in respect of the service of transport of goods by a vessel that GST rate of 5% will be available with ITC in respect of input services and GST paid on ships, vessels including bulk carriers and tankers....

Read More

GST Service: Amendment in Tax / Registration exemption and Rates

1. In the list of service tax exemptions to be continued in GST as approved by the GST Council, after S.No. 83, the following shall be inserted –...

Read More

Revised GST rates on goods approved by GST Council on 11.06.2017

GST council has revised GST rate more than 66 items in its meeting held on 11th June 2017. In its meeting council has revised the rate downward on most of the items. Rates on most goods has come down from higher rate to comparatively lower rate. In some cases rate has come down from 28% to 0% also....

Read More

GST Rate Schedule For Certain Goods (3rd June 2017)

GST RATE SCHEDULE FOR CERTAIN GOODS [As Per Discussions In The GST Council Meeting Held On 3rd June, 2017] Download GST Rate Schedule For Certain Goods (As approved by GST Council on 3rd June 2017) Also Read- 1 » IGST Exemptions/Concessions List under GST- dated 03.06.2017 2 » Addendum to the GST Rate Schedule – […]...

Read More

Addendum to the GST Rate Schedule – 03.06.2017

ADDENDUM TO THE GST RATE SCHEDULE FOR GOODS [As per discussions in the GST Council Meeting held on 3rd June, 2017] The following amendments/ additions are required to be made to the aforesaid document: 1. In Chapter 15, in the 18% rate column, the part entry from 1517 relating to edible mixtures of vegetable fats […]...

Read More

GST Rate Chart on Services & List of Services Exempt from GST

The Article Covers Rate Chart of Goods and Services Tax (GST) applicable on 35 specifically mentioned services and on all other services with availability of Input Tax Credit and List of Services Which are Exempt from Goods and Services Tax. ...

Read More
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