FAQs on
GST Rates inter alia clarify that prefabricated buildings, including portable
and mobile toilets, fall under heading 9406 and attract 18% GST, while battery
for mobile handsets shall fall under heading 8506 and attract 28% GST; ‘Retail
Sale Price’ (RSP) declared on the package of a commodity is inclusive of all
taxes including GST, but GST will be payable on the transaction value; In
respect of readymade garments, Govt. clarifies that ‘sale value’ of Rs. 1000
refers to transaction value, not RSP, and GST at 5% or 12% will apply
accordingly; Export Incentive Licenses like MEIS and SEIS fall under heading
4907 and attract 12% GST; Sarees, Dhotis and Rakhis will be classified and
taxed as per their constituent materials, states Govt. while clarifying the
rates for various commodities like chocolate ‘sandesh’ Bengali misti, Isabgul,
dried coconut, tobacco leaves, khari and hard butters, khoya / mawa, tamarind,
cotton seed oil cake, wet dates and pet food : FAQs on Rates
Subscribe to:
Post Comments (Atom)
Taxability of online games
Introduction: 1. Taxability of online winnings before the introduction of section 115BBJ of the Income Tax Act and section 194BA of the Inco...
-
A new website launched for TDS related matters www.tdscpc.gov.in TRACES – T DS R econciliation A nalysis and C orrection E nabling S yste...
-
This is to update you about an important decision by Tribunal in the case of Filatex India Limited vs. CCE & ST , E A No. 10231 of ...
-
LEASE-DEED (A brief Introduction) Lease defined. A lease of immovable property is a transfer of a right to enjoy such property, mad...
-
Introduction It's important for taxpayers to have a clear understanding of the available allowances and deductions, as they can grea...
-
· Mumbai ITAT in the case of Mukesh Harilal Mehta held that Exemption U/S 54 cannot be denied merely due to mistake by the developer.
-
We all are currently in the process of submitting Rectification Applications under Section 161 of GST Laws for errors that are evident fro...
-
Particulars in Part 1 and Part 2 of Step-2 of registration form are required to be exactly the same as reported in the TDS statement. Plea...
-
Earlier this year, the Mauritius Government approved the amendment to the India – Mauritius tax treaty, aligning it with the proposal of th...
-
Slump sale is transfer of one or more business undertakings for a lump sum consideration, without assigning individual values to the each...
-
This Tax Alert summarizes a recent judgement of the Madras High Court (HC). The issue involved was whether taxpayers who have been assigne...
No comments:
Post a Comment