tax rates

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

Goods and Services 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

Goods and Services Tax - Join GST Online Certification Course by GST Professionals & TaxGuru.in – Batch II 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 COUNCI...

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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?

Goods and Services 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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Reduce tax rate to 25% for LLPs, Firms Converted in Companies & to new Companies

Goods and Services Tax - Reduction in corporate tax rate - Reduced corporate tax rate to be applicable for erstwhile firms recently converted into companies and also LLPs and companies which were set up subsequent to P.Y.2015-16...

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Remove 10% Surcharge on individual/HUF/AOP/BOI having Income exceeding Rs 50 lakhs

Goods and Services Tax - Surcharge @ 10% is proposed in cases where total income of an individual/HUF/AOP/BOI exceeds Rs.50 lakhs but do not exceed Rs. 1 crore. Surcharge of 15% would continue to be applicable where the total income of an individual/HUF/AOP/BOI exceeds Rs 1 crore....

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

Goods and Services 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

Goods and Services 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

Goods and Services 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)

Goods and Services Tax - Join GST Online Certification Course by GST Professionals & TaxGuru.in – Batch II 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 [&hel...

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Addendum to the GST Rate Schedule – 03.06.2017

Goods and Services Tax - Join GST Online Certification Course by GST Professionals & TaxGuru.in – Batch II 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 […]...

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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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Recent Posts in "tax rates"

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)

Join GST Online Certification Course by GST Professionals & TaxGuru.in – Batch II 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 [&hel...

Read More

Addendum to the GST Rate Schedule – 03.06.2017

Join GST Online Certification Course by GST Professionals & TaxGuru.in – Batch II 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 […]...

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

Chart of Services Under Reverse Charge as approved by GST Council

Join GST Online Certification Course by GST Professionals & TaxGuru.in – Batch II 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 COUNCI...

Read More

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?

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....

Read More

Reduce tax rate to 25% for LLPs, Firms Converted in Companies & to new Companies

Reduction in corporate tax rate - Reduced corporate tax rate to be applicable for erstwhile firms recently converted into companies and also LLPs and companies which were set up subsequent to P.Y.2015-16...

Read More

Remove 10% Surcharge on individual/HUF/AOP/BOI having Income exceeding Rs 50 lakhs

Surcharge @ 10% is proposed in cases where total income of an individual/HUF/AOP/BOI exceeds Rs.50 lakhs but do not exceed Rs. 1 crore. Surcharge of 15% would continue to be applicable where the total income of an individual/HUF/AOP/BOI exceeds Rs 1 crore....

Read More
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