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)
Whether Pre-deposit can be made post filing of Appeal
Recently, the Hon’ble Punjab & Haryana High Court, in the case of Sumat Gupta & CO. v. UOI, 2024-VIL-416-P&H , held that pre-d...
-
LEASE-DEED (A brief Introduction) Lease defined. A lease of immovable property is a transfer of a right to enjoy such property, mad...
-
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...
-
· 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.
-
This Tax Alert summarizes a recent instruction issued by the SEZ Division, Department of Commerce, clarifying various concerns relating t...
-
Earlier this year, the Mauritius Government approved the amendment to the India – Mauritius tax treaty, aligning it with the proposal of th...
-
Filing income tax returns (ITR) within the specified timelines under the Income-tax Act is not just a legal obligation but also crucial fo...
-
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 Delhi High Court (HC) [1] dealing with the issue of denial of input tax credit (ITC) ...
-
1. Background 1.1 When a company aims to acquire another company's business through amalgamation or demerger, assets or ...
-
NECESSITY : Sometimes, in view of the expansion of the business, multiple increase in turnover and need for getting finances from the ...
No comments:
Post a Comment