A BILL further to amend the Mumbai Municipal Corporation Act, the Maharashtra Entertainments Duty Act, the Maharashtra Municipal Corporations Act, the Maharashtra Motor Vehicles Tax Act, the Maharashtra Village Panchayats Act, the Maharashtra Municipal Councils, Nagar Panchayats and Industrial Townships Act, 1965, the Maharashtra State Tax on Professions, Trades, Callings and Employments Act, 1975 and the Maharashtra Value Added Tax Act, 2002.
From the era of experiencing major coal shortages, India presently boasts of surplus coal as production of coal increased to 554 million tonnes in 2016-17 from 462 million tonnes in 2013- 14. The significance of this increase of 92 MT of coal production in three years can be gauged from the fact that the same quantum of increase during the UPA regime was achieved in almost seven years.
As you all are aware the GST Council had a two day meeting on 18thand 19th of May and approved seven Rules and related formats and also the chapter wise and rate wise GST schedule for goods and services as well as the GST Compensation Cess rates.
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.
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 […]
Under New GST Regime all services Taxable under GST are been given Service Code (Tariff). All Such Service Tariff code are based on Type of service provided by you. Larger Service is divided in sub categories and in those sub-categories description of services which will fall under those sub-categories with Services Tariff code is given. […]
GST Council has already fixed the rates for more than 1,000 items on 18 May 2017, and today on services. Under the new GST structure, cars will be subjected to a standard 28 % tax rate and additional cess between 1 to 15%.
Outward supply, in relation to a taxable person, means supply of goods/ services, whether by sale, transfer, barter, exchange, license, rental, lease, or disposal made or agreed to be made by such person in the course or furtherance of business.
Understanding the transition provisions are of prime importance as the same would help in the smooth transition to the New GST Regime. Certain situations such as return of goods sold, receiving of the goods after appointed day, change in price of goods/ services can arise during the transition phase. Some of them are discussed in this Article.
In simple terms Composite supply is one where 2 or more goods or services are supplied together, in a natural bundle and in a normal course of business, provided one of which is a principal supply. The composite supply is taxed at the rate applicable to the principal supply.
