tax rates

Income Tax Slabs for AY 2018-19 / FY 2017-18

Goods and Services Tax - Tax Rates 1. In case of an Individual (resident or non-resident) or HUF or Association of Person or Body of Individual or any other artificial juridical person Assessment Year 2018-19 Taxable income Tax Rate Up to Rs. 2,50,000 Nil Rs. 2,50,000 to Rs. 5,00,000 5% Rs. 5,00,000 to Rs. 10,00,000 20% Above Rs. 10,00,000 30% […]...

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Rate of GST on Services updated till 03.07.2017

Goods and Services Tax - The e-book contains Rate of Tax on Services as applicable after considering all Notifications, Circulars etc issued by CBEC from time to time till 3rd July 2017 and includes Services taxable at Nil Rate of Taxation, taxable at the rate of 5%, taxable at the rate of 12%, taxable at the rate of 18%, taxable at the rate of 28% and GST On Sup...

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GST Rate Chart on Services & List of Services Exempt from GST

Goods and Services Tax - The Article Covers Rate Chart of Goods and Services Tax (GST) applicable on 35 specifically mentioned services and on all other services with availability of Input Tax Credit and List of Services Which are Exempt from Goods and Services Tax. ...

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Chart of Services Under Reverse Charge as approved by GST Council

Goods and Services Tax - Articles covers list of services that will be under reverse charge as approved by the GST Council and Percentage of GST payable by service provider and any person other than Nthe service provider. SERVICES UNDER REVERSE CHARGE AS APPROVED BY GST COUNCIL The fitment of rates of services were discussed on 19 May 2017 during […]...

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Why Rates of Income tax announced in February 2017 budget is applicable for Income Earned in Financial Year (F.Y.) 2017-18 and not for F.Y. 2016-17?

Goods and Services Tax - For a leman it is difficult to understand that on which rate the Income Tax is calculated on the Income Earned in the F.Y. 2016-17, whether the rates which are announced in Budget 2017 or on the rates announced in Budget 2016. Even if someone would know which rates would be applicable, but would not know the reason for the same....

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GST 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% […]...

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Proposed Increase in Compensation Cess rate on SUV, Large & Mid-Segment Cars

Goods and Services Tax - Increase in rate of the Compensation Cess on certain specified motor vehicles As per discussions in the 21st GST Council Meeting held on 9th September, 2017: Segment Heading Present Compensation Cess rate Proposed Compensation Cess rate Passenger Vehicles of heading 8703 Small Cars (length < 4 m ; Petrol<1200 cc) 8703 1% No change S...

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17th GST Council meeting- Decisions on rates for Services & on Lottery

Goods and Services Tax - . It has been decided in respect of the service of transport of goods by a vessel that GST rate of 5% will be available with ITC in respect of input services and GST paid on ships, vessels including bulk carriers and tankers....

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GST 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 –...

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Revised GST rates on goods approved by GST Council on 11.06.2017

Goods and Services Tax - GST council has revised GST rate more than 66 items in its meeting held on 11th June 2017. In its meeting council has revised the rate downward on most of the items. Rates on most goods has come down from higher rate to comparatively lower rate. In some cases rate has come down from 28% to 0% also....

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Short term capital losses subject to STT can be set off against Short term capital gains not subject to STT

First State Investments (Hongkong) Ltd. [A/C First State Asia Innovation & Technology Fund] Vs. ADIT (ITAT Delhi) - The Finance Act, 2004 introduced section 111A in the Income-tax Act, 1961 (the Act) prescribing a tax rate of 10 percent on Short Term Capital Gains (STCG) arising from sale of shares on or after 1 October 2004 on a stock exchange which are subject to Securities Transaction Tax (STT)....

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If there is no revenue loss then department should not question the year of allowability of expenses

Commissioner Of Income Tax Vs M/s Vishnu Industrial Gases P. Ltd. (Delhi High Court) - CIT vs. Vishnu Industrial Gases (Delhi High Court) - Where the department had not disputed that the expenditure was deductible in principle but was only disputing the year in which the deduction could be allowed HELD, castigating the department, that as the tax rates were the same in both years, the...

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CGST: ECO to pay GST on services provided by way of house-keeping

Notification No. 23/2017-Central Tax (Rate) - (22/08/2017) - Seeks to amend notification No. 17/2017-CT(R) to make ECO responsible for payment of GST on services provided by way of house-keeping such as plumbing, carpentering etc....

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IGST: ECO to pay GST on services provided by way of house-keeping

Notification No. 23/2017-Integrated Tax (Rate) - (22/08/2017) - Seeks to amend notification No. 14/2017-IT(R) to make ECO responsible for payment of GST on services provided by way of house-keeping such as plumbing, carpentering etc....

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UTGST: ECO to pay GST on services provided by way of house-keeping

Notification No. 23/2017-Union Territory Tax (Rate) - (22/08/2017) - Seeks to amend notification No. 17/2017-UTT(R) to make electronic commerce operator (ECO) responsible for payment of GST on services provided by way of house-keeping such as plumbing, carpentering etc....

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UTGST: GST RCM provisions amended & explanation for LLP inserted

Notification No. 22/2017- Union Territory Tax (Rate) - (22/08/2017) - Seeks to amend notification No. 13/2017-UTT(R) to amend RCM provisions for GTA and to insert explanation for LLP. Limited Liability Partnership formed and registered under the provisions of the Limited Liability Partnership Act, 2008 (6 of 2009) shall also be considered as a partnership firm or a fi...

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CGST: GST RCM provisions amended & explanation for LLP inserted

Notification No. 22/2017-Central Tax (Rate) - (22/08/2017) - Seeks to amend notification No. 13/2017-CT(R) to amend RCM provisions for GTA and to insert explanation for LLP. in the Table, against serial number 1, in column (2), after the words and brackets goods transport agency (GTA) the words and figure , who has not paid central tax at the rate of 6%, shal...

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Recent Posts in "tax rates"

GST Council recommends Change in GST Rates on 40 Type of Goods

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% […]...

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Proposed Increase in Compensation Cess rate on SUV, Large & Mid-Segment Cars

Increase in rate of the Compensation Cess on certain specified motor vehicles As per discussions in the 21st GST Council Meeting held on 9th September, 2017: Segment Heading Present Compensation Cess rate Proposed Compensation Cess rate Passenger Vehicles of heading 8703 Small Cars (length < 4 m ; Petrol<1200 cc) 8703 1% No change S...

Read More

CGST: ECO to pay GST on services provided by way of house-keeping

Notification No. 23/2017-Central Tax (Rate) (22/08/2017)

Seeks to amend notification No. 17/2017-CT(R) to make ECO responsible for payment of GST on services provided by way of house-keeping such as plumbing, carpentering etc....

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IGST: ECO to pay GST on services provided by way of house-keeping

Notification No. 23/2017-Integrated Tax (Rate) (22/08/2017)

Seeks to amend notification No. 14/2017-IT(R) to make ECO responsible for payment of GST on services provided by way of house-keeping such as plumbing, carpentering etc....

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UTGST: ECO to pay GST on services provided by way of house-keeping

Notification No. 23/2017-Union Territory Tax (Rate) (22/08/2017)

Seeks to amend notification No. 17/2017-UTT(R) to make electronic commerce operator (ECO) responsible for payment of GST on services provided by way of house-keeping such as plumbing, carpentering etc....

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UTGST: GST RCM provisions amended & explanation for LLP inserted

Notification No. 22/2017- Union Territory Tax (Rate) (22/08/2017)

Seeks to amend notification No. 13/2017-UTT(R) to amend RCM provisions for GTA and to insert explanation for LLP. Limited Liability Partnership formed and registered under the provisions of the Limited Liability Partnership Act, 2008 (6 of 2009) shall also be considered as a partnership firm or a firm...

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CGST: GST RCM provisions amended & explanation for LLP inserted

Notification No. 22/2017-Central Tax (Rate) (22/08/2017)

Seeks to amend notification No. 13/2017-CT(R) to amend RCM provisions for GTA and to insert explanation for LLP. in the Table, against serial number 1, in column (2), after the words and brackets goods transport agency (GTA) the words and figure , who has not paid central tax at the rate of 6%, shall be inserted;...

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CGST exemption on services by Fair Price Shops to Govt / FIFA etc

Notification No. 21/2017-Central Tax (Rate) (22/08/2017)

Seeks to amend notification No. 12/2017-CT(R) to exempt services provided by Fair Price Shops to Government and those provided by and to FIFA for FIFA U-17. Also to substitute RWCIS & PMFBY for MNAIS & NAIS, and insert explanation for LLP....

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UTGST exemption on services by Fair Price Shops to Govt / FIFA etc

Notification No. 21/2017- Union Territory Tax (Rate) (22/08/2017)

CBEC Seeks to amend notification No. 12/2017-CT(R) to exempt services provided by Fair Price Shops to Government and those provided by and to FIFA for FIFA U-17. Also to substitute RWCIS & PMFBY for MNAIS & NAIS, and insert explanation for LLP. ...

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IGST exemption on services by Fair Price Shops to Govt / FIFA etc

Notification No. 21/2017-Integrated Tax (Rate) (22/08/2017)

Seeks to amend notification No. 09/2017-IT(R) to exempt services provided by Fair Price Shops to Government and those provided by and to FIFA for FIFA U-17. Also to substitute RWCIS & PMFBY for MNAIS & NAIS, and insert explanation for LLP....

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