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Goods and Services Tax - The recently concluded 28th meeting of GST Council has recommended changes in the GST rates on several goods and brought down the GST rates on number of products bringing as many as 88 products in lower tax slab. ...
Read MoreGoods and Services Tax - The major recommendations are as detailed below:- 1. Composition dealers:- Upper limit of turnover for opting for GST composition scheme to be raised from Rs. 1 crore to Rs. 1.5 crore. Present limit of turnover can now be raised on the recommendations of the Council. > Composition dealers to be allowed to supply services (other than [...
Read MoreGoods and Services Tax - The GST Council in its 28th meeting held on 21st July has recommended certain amendments in the CGST Act, 2017, IGST Act, 2017, UTGST Act 2017, and GST (Compensation to States) Act, 2017. A quick glance of certain important recommendations and its impact to most of the common stakeholders. Recommendation Upper limit of turnover for [&hell...
Read MoreGoods and Services Tax - In this Article we updates about the normal Income tax rates applicable to different types of taxpayers for Financial Year 2018-19 . The Income tax rates discussed in this part are applicable for assessment year 2019-20 i.e. financial year 2018-19. In this part you can gain knowledge about the normal Income Tax tax rates applicable to [&...
Read MoreGoods and Services Tax - This Article Contains Income Tax Rate / Income Tax Chart/ Income Tax Slab as applicable for Financial Year (FY) 2018-19 or Assessment Year 2018-19 (AY) to Individual (resident or non-resident) or HUF or Association of Person (AOP) or Body of Individual (BOI) or any other artificial juridical person, Partnership Firm, LLP, Local Authority,...
Read MoreGoods and Services Tax - CBIC issues 28 Notification Related to GST Rates on Goods & Services on 26th July 2018 which are effective from 27th July 2018. Notifications include Notification No. 2/2018-Compensation Cess (Rate), Notification No. 13 to 21/2018-Central Tax (Rate), Notification No. 14 to 22/2018-Integrated Tax (Rate) and Notification No. 13 to 21/20...
Read MoreGoods and Services Tax - Quick note on 28th GST Council meeting, which has reviewed around 46 proposed amendments in GST Act 2017 and recommended the following amendments ;...
Read MoreGoods and Services Tax - 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]....
Read MoreGoods and Services Tax - LIST OF GOODS FOR CHANGE IN GST RATE RECOMMENDED BY GST COUNCIL IN ITS 21st MEETING HELD ON 9TH SEPTEMBER, 2017 1. The GST Council has recommended changes in the GST rates on the following goods: S. No. HSN Description Present GST Rate Recommended GST rate 1. 0802 Walnuts, whether or not shelled 12% 5% […]...
Read MoreGoods and Services Tax - 1. In the list of service tax exemptions to be continued in GST as approved by the GST Council, after S.No. 83, the following shall be inserted –...
Read MoreNotification No. 21/2018-Central Tax (Rate) [G.S.R. 695(E)] - (26/07/2018) - CBIC notifies concessional CGST rate on specified handicraft items vide Notification No. 21/2018-Central Tax (Rate), Dated: 26th July, 2018 with effect from 27th of July, 2018 to give effect to recommendations of 28th GST Council meeting which was held on 21.07.2018....
Read MoreNotification No. 20/2018-Central Tax (Rate) [G.S.R. 694(E)] - (26/07/2018) - CBIC allows Refund of accumulated credit on account of inverted duty structure to fabric manufacturers vide Notification No. 20/2018-Central Tax (Rate), Dated: 26th July, 2018. ...
Read MoreNotification No. 19/2018-Central Tax (Rate) [G.S.R. 693(E)] - (26/07/2018) - CBIC amends list of goods exempt from GST vide Notification No. 19/2018-Central Tax (Rate), Dated: 26th July, 2018 with effect from 27th of July, 2018 to give effect to recommendations of 28th GST Council meeting which was held on 21.07.2018....
Read MoreNotification No. 18/2018-Central Tax (Rate) [G.S.R. 692(E)] - (26/07/2018) - CBIC notifies reduced GST Rates on Several Goods vide Notification No. 18/2018-Central Tax (Rate), Dated: 26th July, 2018 with effect from 27th of July, 2018....
Read MoreNotification No. 17/2018-Central Tax (Rate) [G.S.R. 681(E)] - (26/07/2018) - CBIC inserts following explanation in notification No. 11/2017 – Central Tax (Rate) in Table, against serial number 3 (Related to Composite supply of works contract to Government) , in column (3), in item (vi)- For the purposes of this item, the term 'business' shall not include any activity or...
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Notification No. 21/2018-Central Tax (Rate) [G.S.R. 695(E)] - (26/07/2018) -
Notification No. 20/2018-Central Tax (Rate) [G.S.R. 694(E)] - (26/07/2018) -
Notification No. 19/2018-Central Tax (Rate) [G.S.R. 693(E)] - (26/07/2018) -
Notification No. 18/2018-Central Tax (Rate) [G.S.R. 692(E)] - (26/07/2018) -
Notification No. 17/2018-Central Tax (Rate) [G.S.R. 681(E)] - (26/07/2018) -
Notification No. 16/2018-Central Tax (Rate) [G.S.R. 680 (E)] - (26/07/2018) -
Notification No. 15/2018-Central Tax (Rate) [G.S.R. 679 (E)] - (26/07/2018) -
Notification No. 14/2018-Central Tax (Rate) [G.S.R. 678(E)] - (26/07/2018) -
Notification No. 13/2018-Central Tax (Rate) [G.S.R. 677(E)] - (26/07/2018) -
