tax rate changes
Reduction in GST rates on several goods – Anti-Profiteering alert!!!
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 MoreRecommendations of 28th GST Council Meeting- Whats good & whats not
Goods 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 More28th GST council meeting- Recommendations and it’s impact in business
Goods 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 MoreIncome Tax Rates for Financial Year 2018-19
Goods 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 MoreIncome Tax Rates for AY 2019-20 / FY 2018-19
Goods 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 MoreCBIC issues 28 Notification Related to GST Rates on Goods & Services
Goods 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 MoreQuick Review on 28th GST Council meeting updates
Goods 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 MoreGST Rate Changes as recommended in 23rd Meeting of GST Council
Goods 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 MoreGST Council recommends Change in GST Rates on 40 Type of Goods
Goods 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 MoreGST Service: Amendment in Tax / Registration exemption and Rates
Goods 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 MoreConcessional CGST rate on specified handicraft items WEF 27.07.2018
Notification 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 MoreCBIC allows Refund of GST credit to fabric manufacturers
Notification 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 MoreChanges in List of goods exempt from CGST wef 27.07.2018
Notification 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 MoreRevised CGST rates on various Goods WEF 27th July, 2018
Notification 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 MoreComposite supply of works contract to Govt- Term ‘Business’ clarified
Notification 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...
Read MoreRecent Posts in "tax rate changes"
CBIC issues 28 Notification Related to GST Rates on Goods & Services
Concessional CGST rate on specified handicraft items WEF 27.07.2018
Notification No. 21/2018-Central Tax (Rate) [G.S.R. 695(E)] - (26/07/2018) -
CBIC allows Refund of GST credit to fabric manufacturers
Notification No. 20/2018-Central Tax (Rate) [G.S.R. 694(E)] - (26/07/2018) -
Changes in List of goods exempt from CGST wef 27.07.2018
Notification No. 19/2018-Central Tax (Rate) [G.S.R. 693(E)] - (26/07/2018) -
Revised CGST rates on various Goods WEF 27th July, 2018
Notification No. 18/2018-Central Tax (Rate) [G.S.R. 692(E)] - (26/07/2018) -
Composite supply of works contract to Govt- Term ‘Business’ clarified
Notification No. 17/2018-Central Tax (Rate) [G.S.R. 681(E)] - (26/07/2018) -
CGST on Services in relation to a function entrusted to a municipality
Notification No. 16/2018-Central Tax (Rate) [G.S.R. 680 (E)] - (26/07/2018) -
CGST: RCM on services by individual DSAs to banks/ NBFCs wef 27.07.2018
Notification No. 15/2018-Central Tax (Rate) [G.S.R. 679 (E)] - (26/07/2018) -
CBIC notifies CGST exemption on certain services from 27th July, 2018
Notification No. 14/2018-Central Tax (Rate) [G.S.R. 678(E)] - (26/07/2018) -
Revised CGST rates on various services WEF 27th July, 2018
Notification No. 13/2018-Central Tax (Rate) [G.S.R. 677(E)] - (26/07/2018) -
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