70% of all goods and some consumer durables to become cheaper under proposed GST regime A number of goods such as cosmetics, shaving creams, shampoo, toothpaste,soap, plastics, paints and some consumer durables could become cheaper under the proposed goods and services tax GST regime as most items are likely to be subject to the rate of […]
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
Due to GST – What will cost more and what will be cheaper here’s the list ! With the passage of the GST Bills in the Lok Sabha last week, India’s biggest tax reform Goods & Services Tax (GST), is all set to see the light of day soon. Touted as a reform which would […]
Pay more under GST if Planning to buy a phone in exchange offer ! Exchange offers may stress your pockets of an individual buyer, going by the draft rules for valuation of supply under GST. This tax is triggered on supply of goods or services.
Concept of Deemed Sales and GST Clause 29A of Article 366 of the Constitution of India, inserted by 46th amendment to the Constitution gains very much importance as the same lays down the concept of Deemed sale and enables the states to tax certain transactions. This was important as taxes were levied either on “Sale […]
APPLICABILITY OF GST LAW ON EDUCATIONAL INSTITUTIONS As per the present Service-tax law, all educational institutions are exempt from service-tax. In this regard, reference can be made to Notification on providing for exemption vide which all schools rendering education from pre-school to higher secondary level, are exempt.