GST Council highlights Rab with revised tax rates: Initially classified under 1702 at 18%, now reclassified to 5% for prepackaged sales, ensuring clarity and fairness in sugarcane product taxation.
Exemption is provided upto Rs 7500 per month per member in case a society sources goods and services from third person for common use of its members. Eg (payments to security, cleaners, accountants etc).
Understand how GST on e-commerce works with a Restaurant example. Learn what’s the TCS provision and exceptions to it from 1st Oct 2018.
Understand the importance of Place of Supply of Goods & Services for optimized GST calculation. Learn how it affects CGST, SGST, & IGST to figure out the right rate.
Understand the essence of key changes to Input Tax Credit rules with GST Council. Know what Rule 37A in GST implies for taxpayers? Find out here!
GST on slump sale? Understand how the Central Board of Indirect Taxes & Customs view slump sale & why GST should not apply.
