Sanitary napkins are classifiable under heading 9619. In pre-GST, they attracted concessional excise duty of 6% and 5% VAT and, the pre-GST estimated total tax incidence on sanitary napkins was 13.68%. Therefore, 12% GST rate had been provided for sanitary napkin.
Gifts up to a value of Rs 50,000/- per year by an employer to his employee are outside the ambit of GST. However, gifts of value more than Rs 50,000/- made without consideration are subject to GST, when made in the course or furtherance of business.
As a part of this continuous process, a new tax payer service module ‘Aaykar Setu’, was launched by the Honourable Finance Minister, Shri Arun Jaitley from Delhi today. To enhance mobile access experience, a mobile responsive android version was also released along with the desktop version.
The rule 96A of the Maharashtra Goods and Services Tax Rules, 2017 provides that refund of integrated tax paid on export of goods or services can be availed by submission of bond or Letter of Undertaking in FORM GST RFD-011.
Dr Jitendra Singh has said that GST has a special significance for Jammu & Kashmir and the eight States of the North-East Region. The same also applies to States like Uttarakhand and Himachal Pradesh, he said.
Shri Mukhtar Abbas Naqvi addresses awareness programme on GST in Hyderabad Shri Naqvi says GST is biggest economic reform after Independence, the new tax system will transform Indian economy The Minister of State for Minority Affairs (Independent Charge) & Parliamentary Affairs Shri Mukhtar Abbas Naqvi today said here that Goods and Services Tax (GST) is […]
According to rule 56 of the Central Goods and Services Tax (Second Amendment) Rules, 2017, as per Notification No. 10/2017- Central Tax, dated 28.06.2017, the following accounts and records have to be maintained by a registered person:
Section 221 of the Income Tax Act, 1961, prescribes penalty according to its provisions when an assessee is in default or is deemed to be in default in making a payment of tax.
PART A-Composition Scheme What is the composition scheme Who is eligible to avail composition scheme Category of persons excluded from the Scheme Composition rates and computation of tax Procedure to be followed Part B- Accounts and records Accounts and records to be maintained Period for which to be retained Composition levy is an option for […]
It is clarified to all concerned that in the circular WM-10(31)/2017 Dated 04.07.2017, the phrase the increased amount of tax due to GST, if any” means the effective increase in the tax liability calculated after taking into consideration extra availability of input tax credit under GST (including deemed credit available to the traders under CGST)
