tax rates

Income Tax Rates for Financial Year 2017-18

Income Tax - In this Article we updates about the normal Income tax rates applicable to different types of taxpayers for Financial Year 2017-18 . The Income tax rates discussed in this part are applicable for assessment year 2018-19 i.e. financial year 2017-18. In this part you can gain knowledge about the normal Income Tax tax rates applicable to [&...

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Updated GST on Goods Rate Rate Chart Updated till 15.11.2017

Income Tax - Updated scheduled CGST rates on goods, as on 15.11.2017 For ease of reference only The CGST rates on certain goods have undergone changes since the introduction of GST. The rate changes are given effect through amending notifications issued from time to time. A need has been felt to publish a consolidated rate schedule in a […]...

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List of Exempted Services under GST

Income Tax - Below list include List of Services which are exempt from Goods & Services Tax (GST). You are requested to Confirm the same from relevant Law, Circular and Notifications....

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

Income 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

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

Income 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

Income 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

Income 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

Income 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

Income 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"

Income Tax Rates for Financial Year 2017-18

In this Article we updates about the normal Income tax rates applicable to different types of taxpayers for Financial Year 2017-18 . The Income tax rates discussed in this part are applicable for assessment year 2018-19 i.e. financial year 2017-18. In this part you can gain knowledge about the normal Income Tax tax rates applicable to [&...

Read More

Updated GST on Goods Rate Rate Chart Updated till 15.11.2017

Updated scheduled CGST rates on goods, as on 15.11.2017 For ease of reference only The CGST rates on certain goods have undergone changes since the introduction of GST. The rate changes are given effect through amending notifications issued from time to time. A need has been felt to publish a consolidated rate schedule in a […]...

Read More

List of Exempted Services under GST

Below list include List of Services which are exempt from Goods & Services Tax (GST). You are requested to Confirm the same from relevant Law, Circular and Notifications....

Read More

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% […]...

Read More

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....

Read More

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....

Read More

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....

Read More

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...

Read More

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;...

Read More
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