Impact of GST on the Gold Jewelry Industry The GST on the Gold Jewelry Industry has been fixed at the rate of 3% of its sale value. Though this is slightly more than the tax attracted by gold earlier, it is less than the 5% rate that was being anticipated initially and is likely to […]
Tag Archives: GST
Goods and Services Tax i.e.GST is just the replacement of Indirect taxes like Sales tax,Service tax and Excise duty.which indirectly effect the customers
Why are relaxed invoicing norms not good for consumers? When the relaxed invoicing norms laid down initially for retailers Govt. had a plan for the consumers where they tried that every consumer has the right to know how much tax they have paid on which item.
GST composition scheme – Solution of expected problems As you know that government tried to give some relief to the small traders and launched GST Composition Scheme. The taxpayer may apply for composition scheme at the time of their fresh GST registration or migrated taxpayers may opt-in composition scheme by filing up a CMP-02 form […]
GST on sale of car by a business house The present moot question is whether GST on sale of car (old and used) by a Business House. GST is leviable on ‘Supply’ as defined under Section 7 of the CGST Act, 2017 (hereinafter referred as Act). Relevant portion of said definition of ‘Supply’ is reproduced […]
12% tax rate without ITC on Restaurants- Proposal Air-conditioned restaurants currently charge GST @18% and non-air-conditioned ones charge 12% GST. As per recent proposal made to GST Council, a rate of GST in case of restaurants is being planned to be kept at 12% without the facility of ITC on Restaurants.If this proposal is materialized […]