GST Rate

GST rates on Real Estate

Goods and Services Tax - Types of Real Estate Transactions: These are the following types of transactions which can take place in Real Estate Sector: 1. Supply of immovable properties (Commercial/ Residential) before completion. 2. Supply of immovable properties (Commercial/ Residential) after completion. 3. Sale of Land (Agricultural/ Commercial/ Residential). 4...

Read More

Highlights of the 39th GST Council Meeting

Goods and Services Tax - 1. Deferment of the new GST return system and e-invoicing to 1st October 2020. The present return system (GSTR-1, GSTR-2A & GSTR-3B) will be continued until September 2020. 2. Changes in the GST rates GST on mobile phones and specified parts was increased from 12% to 18%. All types of matches have been rationalised to […]...

Read More

GST Council’s Recommendation on GST Procedures

Goods and Services Tax - The all empowered GST Council (GSTC) had its 39th meeting on 14th March, 2020. The meeting deliberated with a three pronged focus, viz, changes in law and procedure for trade facilitation, GST rates rationalization and I.T. facilities. The GSTC also took certain decisions to defer the new facilities/utilities and/or extend the due dates a...

Read More

Sign of Bigger Relief – 39th GST Council Meeting

Goods and Services Tax - A much-awaited relief has finally arrived in terms of relaxation and deferring many compliances,  whether it is about E-Invoicing or GST Audit for the financial Year 2018 – 2019 in the 39th GST Council meeting which took place on 14/03/2020. The rationale behind this is very clear logical as we have just finished the Audit [&hellip...

Read More

Note on Recommendations Made In 39th GST Council Meeting

Goods and Services Tax - Various recommendations have been made by the GST Council in its meeting held on 14.03.2020 which is likely to be notified soon. Relevant points are as follows: 1. Interest for delay in payment of GST to be charged on net cash tax liability w.e.f. 01.07.2017 instead of gross tax liability (Law to be amended retrospectively). 2. […...

Read More

Updated schedule of CGST rates on goods as on 31.03.2021

Goods and Services Tax - The GST rates on certain goods have under gone changes since the introduction of GST. The rate changes are given effect through amending notifications issued from time to time. Requests have been received for publishing a consolidated rate schedule incorporating all the changes....

Read More

38th GST Council’s decisions on Law & Procedural changes

Goods and Services Tax - Due date for annual return in FORM GSTR-9 and reconciliation statement in FORM GSTR-9C for FY 2017-18 to be extended to 31.01.2020. Input tax credit to the recipient in respect of invoices or debit notes that are not reflected in his FORM GSTR-2A shall be restricted to 10 per cent of the eligible credit available in respect of invoices or...

Read More

38th GST Council’s decisions On Rate Changes

Goods and Services Tax - To levy a single rate of GST @ 28% on both State run and State authorized lottery. This change shall become effective from 1st March, 2020. The Council also considered the rate of GST rate on Woven and Non-Woven Bags and sacks  of polyethylene or polypropylene strips or the like, whether or not laminated, of a kind used for packing of go...

Read More

CBIC issues 43 notifications on 30th September 2019

Goods and Services Tax - CBIC issues 43 notifications on 30th September 2019 to give effect to Recommendations made by GST Council in its 37th Meeting. Most of the changes are effective from 1st October 2019 and includes changes in Custom Law, CGST, IGST and UTGST Law. Changes includes changes in Rates on certain Products and Services, Applicability of Reverse [&...

Read More

Changes in GST Law & Return Filing including Annual Returns

Goods and Services Tax - Filing of FORM GSTR-9 for those taxpayers who (are required to file the said return but) have aggregate turnover up to Rs. 2 crores made optional for the said tax periods. A Committee of Officers to be constituted to examine the simplification of Forms for Annual Return and reconciliation statement....

Read More

HC to GST Council- Decide GST Rate for Ayurvedic Sanitizer

Haryana Ayurvedic Drugs Manufacturers Assocication (HADMA) Vs Central Goods & Service Tax & Ors. (Punjab & Haryana High Court) - The High Court forwarded the application to GST Council for appropriate consideration of exact GST rate applicable on Ayurvedic/ Unani/ Sidha (AUS) ingredient based sanitizers in accordance with law. Accordingly the petition is disposed off with the hope that the same shall be taken up for considera...

Read More

Gujarat Builder found guilty of not passing ITC Benefit

Sh. Vasantbhai Bhikabhai Patel Vs M/s Shree Infra (National Anti-Profiteering Authority) - Sh. Vasantbhai Bhikabhai Patel Vs M/s Shree Infra (National Anti-Profiteering Authority) We have carefully considered the Report of the DGAP, the submissions of the Respondent and all the documents placed on record. From the perusal of the DGAP’s Report it is revealed that the ratio of ITC to ...

Read More

Sanitary Napkin seller found guilty of not passing GST rate reduction benefit

Sh. Sandeep Puri Vs M/s Glenmark Pharmaceutical Ltd. (National Anti-Profiteering Authority) - Product Sanitary Napkin vide Notification No. 19/2018-Central Tax (Rate) dated 26.07.2018, w.e.f 27.07.2018 was exempted and attracted NIL rate of GST. However prior to 27.07.2018 this product attracted 12% GST with the benefit of ITC on the inputs and input services which was denied from 27.07.2018...

Read More

GST Rate on Electrical Wiring Harness (electrical wire)

In re Wabco India Limited (GST AAR Tamil Nadu) - In re Wabco India Limited (GST AAR Tamil Nadu) 1. Whether the Electrical Wiring Harness, primarily an electrical wire with connectors at both ends, manufactured by the Applicant falls under the HSN tariff item 8544 for which the rate prescribed vide Notification no 1/2017 -Central tax (Rate) dated 2...

Read More

GST Rate on supply of Solar Power Generating System

In re Frizo India Private Limited (AAR Rajasthan) - In re Frizo India Private Limited (GST AAR Rajasthan) Applicable GST Rate on supply of Solar Power Generating System- In instant case the nature of work is of Erection, Procurement and Commissioning of Solar Generating System which falls under the ambit ‘Works Contract Services’ (SAC 995...

Read More

CBIC revises GST rate of matchsticks & telephone sets

Notification No. 03/2020-Central Tax (Rate) [G.S.R. 216(E).] - (25/03/2020) - CBIC amends notification No. 1/2017-Central Tax (Rate) to prescribe uniform GST rate of 12% on all matchsticks & 18 % on all telephone sets vide Notification No. 03/2020–Central Tax (Rate) Dated- 25th March, 2020. MINISTRY OF FINANCE (Department of Revenue) Notification No. 03/2020-Central Tax...

Read More

GST reduced to 5% on MRO services of aircraft with full ITC

Notification No. 02/2020–Central Tax (Rate) [G.S.R. 1209(E).] - (25/03/2020) - CBIC amends Notification No. 11/2017-Central Tax (Rate) dt. 28.06.2017 reducing CGST rate on Maintenance, Repair and Overhaul (MRO) services in respect of aircraft from 18% to 5% with full ITC vide Notification No. 02/2020–Central Tax (Rate) Dated- 25th March, 2020. MINISTRY OF FINANCE (Department...

Read More

UTGST reduced to 5% on MRO services of aircraft with full ITC

Notification No. 02/2020-Union Territory Tax (Rate) [G.S.R. 1211(E).] - (25/03/2020) - CBIC amends Notification No. 11/2017-Union Territory Tax (Rate) dt. 28.06.2017 reducing UTGST rate on Maintenance, Repair and Overhaul (MRO) services in respect of aircraft from 18% to 5% with full ITC vide Notification No. 02/2020–Union Territory Tax (Rate) dated 25th March, 2020 Ministry of Fina...

Read More

CBIC revises IGST rate of Matchsticks & Telephone Sets

Notification No. 03/2020-Intergrated Tax (Rate) [G.S.R. 217(E)] - (25/03/2020) - CBIC amends notification No. 1/2017-Integreated Tax (Rate) to prescribe  uniform IGST rate of 12% on all matchsticks & 18 % on all telephone Sets vide Notification No. 03/2020-Intergrated Tax (Rate) dated 25th March, 2020. Ministry of Finance (Department of Revenue) Notification No. 03/2020-Int...

Read More

IGST reduced to 5% on MRO services of aircraft with full ITC

Notification No. 02/2020–Integrated Tax (Rate) [G.S.R. 1210(E)] - (25/03/2020) - CBIC amends Notification No. 8/2017-Integrated Tax (Rate) dt. 28.06.2017 reducing IGST rate on Maintenance, Repair and Overhaul (MRO) services in respect of aircraft from 18% to 5% with full ITC vide Notification No. 02/2020–Integrated Tax (Rate) Dated 25th March, 2020. MINISTRY OF FINANCE (Depart...

Read More

Recent Posts in "GST Rate"

Updated schedule of CGST rates on goods as on 31.03.2021

01/01/1970

The GST rates on certain goods have under gone changes since the introduction of GST. The rate changes are given effect through amending notifications issued from time to time. Requests have been received for publishing a consolidated rate schedule incorporating all the changes....

Read More

GST rates on Real Estate

01/01/1970

Types of Real Estate Transactions: These are the following types of transactions which can take place in Real Estate Sector: 1. Supply of immovable properties (Commercial/ Residential) before completion. 2. Supply of immovable properties (Commercial/ Residential) after completion. 3. Sale of Land (Agricultural/ Commercial/ Residential). 4...

Read More

HC to GST Council- Decide GST Rate for Ayurvedic Sanitizer

Haryana Ayurvedic Drugs Manufacturers Assocication (HADMA) Vs Central Goods & Service Tax & Ors. (Punjab & Haryana High Court)01/01/1970

The High Court forwarded the application to GST Council for appropriate consideration of exact GST rate applicable on Ayurvedic/ Unani/ Sidha (AUS) ingredient based sanitizers in accordance with law. Accordingly the petition is disposed off with the hope that the same shall be taken up for consideration by the Council at the earliest, con...

Read More

CBIC revises GST rate of matchsticks & telephone sets

Notification No. 03/2020-Central Tax (Rate) [G.S.R. 216(E).] 25/03/2020

CBIC amends notification No. 1/2017-Central Tax (Rate) to prescribe uniform GST rate of 12% on all matchsticks & 18 % on all telephone sets vide Notification No. 03/2020–Central Tax (Rate) Dated- 25th March, 2020. MINISTRY OF FINANCE (Department of Revenue) Notification No. 03/2020-Central Tax (Rate) New Delhi, the 25th March, 2020 ...

Read More

GST reduced to 5% on MRO services of aircraft with full ITC

Notification No. 02/2020–Central Tax (Rate) [G.S.R. 1209(E).] 25/03/2020

CBIC amends Notification No. 11/2017-Central Tax (Rate) dt. 28.06.2017 reducing CGST rate on Maintenance, Repair and Overhaul (MRO) services in respect of aircraft from 18% to 5% with full ITC vide Notification No. 02/2020–Central Tax (Rate) Dated- 25th March, 2020. MINISTRY OF FINANCE (Department of Revenue) Notification No. 02/2020–...

Read More

UTGST reduced to 5% on MRO services of aircraft with full ITC

Notification No. 02/2020-Union Territory Tax (Rate) [G.S.R. 1211(E).] 25/03/2020

CBIC amends Notification No. 11/2017-Union Territory Tax (Rate) dt. 28.06.2017 reducing UTGST rate on Maintenance, Repair and Overhaul (MRO) services in respect of aircraft from 18% to 5% with full ITC vide Notification No. 02/2020–Union Territory Tax (Rate) dated 25th March, 2020 Ministry of Finance (Department of Revenue) Notification...

Read More

CBIC revises IGST rate of Matchsticks & Telephone Sets

Notification No. 03/2020-Intergrated Tax (Rate) [G.S.R. 217(E)] 25/03/2020

CBIC amends notification No. 1/2017-Integreated Tax (Rate) to prescribe  uniform IGST rate of 12% on all matchsticks & 18 % on all telephone Sets vide Notification No. 03/2020-Intergrated Tax (Rate) dated 25th March, 2020. Ministry of Finance (Department of Revenue) Notification No. 03/2020-Intergrated Tax (Rate) New Delhi, the 25th ...

Read More

IGST reduced to 5% on MRO services of aircraft with full ITC

Notification No. 02/2020–Integrated Tax (Rate) [G.S.R. 1210(E)] 25/03/2020

CBIC amends Notification No. 8/2017-Integrated Tax (Rate) dt. 28.06.2017 reducing IGST rate on Maintenance, Repair and Overhaul (MRO) services in respect of aircraft from 18% to 5% with full ITC vide Notification No. 02/2020–Integrated Tax (Rate) Dated 25th March, 2020. MINISTRY OF FINANCE (Department of Revenue) Notification No. 02/202...

Read More

Highlights of the 39th GST Council Meeting

01/01/1970

1. Deferment of the new GST return system and e-invoicing to 1st October 2020. The present return system (GSTR-1, GSTR-2A & GSTR-3B) will be continued until September 2020. 2. Changes in the GST rates GST on mobile phones and specified parts was increased from 12% to 18%. All types of matches have been rationalised to […]...

Read More

GST Council’s Recommendation on GST Procedures

01/01/1970

The all empowered GST Council (GSTC) had its 39th meeting on 14th March, 2020. The meeting deliberated with a three pronged focus, viz, changes in law and procedure for trade facilitation, GST rates rationalization and I.T. facilities. The GSTC also took certain decisions to defer the new facilities/utilities and/or extend the due dates a...

Read More

Browse All Categories

CA, CS, CMA (5,310)
Company Law (7,063)
Custom Duty (8,380)
DGFT (4,500)
Excise Duty (4,458)
Fema / RBI (4,607)
Finance (4,857)
Income Tax (36,403)
SEBI (3,885)
Service Tax (3,692)

Search Posts by Date

April 2021
M T W T F S S
 1234
567891011
12131415161718
19202122232425
2627282930