Zero rated supplies are those supplies on which you can claim input but Vat is charged at zero rate. To understand better we should first understand the definition of Taxable Supply.
The clearing and forwarding service is very complicated issue in past and present tax structure and having always litigation area, as regard POS, classification of service and valuation of service and due to its various scenario.
Aadhaar enrolment is done through registrars, which are credible institutions like state government, banks, Common Service Centres (CSCs) which employ enrolment agencies empanelled by UIDAI.
A. List Of Goods On Which GST RATE RECOMMENDED FOR REDUCTION FROM 28% TO 18% B. LIST OF GOODS ON WHICH GST Rate Recommended For Reduction From 28% To 12% C. Goods Recommended To Be Retained At 28% GST RATE:
New version of GSTR-2 offline tool is available on GST portal now. You can use this tool to export data of GSTR-2 from Tool to Excel. This will also help you in comparing data with purchase register to take actions like accept, reject and modify for receiver.
Recommendations made by the GST Council in the 23rd meeting at Guwahati on 10th November, 2017 Return Filing a) The return filing process is to be further simplified in the following manner: i. All taxpayers would file return in FORM GSTR-3B along with payment of tax by 20th of the succeeding month till March, 2018. […]
i. All stand-alone restaurants irrespective of air conditioned or otherwise, will attract 5% without ITC. Food parcels (or takeaways) will also attract 5% GST without ITC. ii. Restaurants in hotel premises having room tariff of less than Rs 7500 per unit per day will attract GST of 5% without ITC.
Recommendations made On GST Rate changes by the GST Council as per discussions in its 23rd Meeting on 10th November, 2017 held at Guwahati Exemption from IGST/GST in certain specified cases as : i. Exemption from IGST on imports of lifesaving medicine supplied free of cost by overseas supplier for patients, subject to certification by […]
Annual turnover eligibility for composition scheme will be increased to Rs 2 crore from the present limit of Rupees 1 crore under the law. Thereafter, eligibility for composition will be increased to Rs. 1.5 Crore per annum.
As per these recommendations, the list of 28% GST rated goods is recommended to be pruned substantially, from 224 tariff headings [about 18.5% of total tariff headings at 4-digit] to only 50 tariff headings including 4 headings which have been partially reduced to 18% [about 4% of total tariff headings at 4-digit].
