Ministry of Finance issues
clarification to allay the apprehension of changes in GST law relating to
farmers w.e.f. June 2018 according to which, they would be required to take
registration and pay GST of 18% on leasing of their land; Ministry states that such
news is “factually incorrect and misleading”; There is no change in GST law and
taxation relating to farmers since the implementation of GST w.e.f July 2017;
Clarifies that support services to agriculture, forestry, fishing or animal
husbandry are exempt and thus, renting or leasing of land with or without
structure incidental to its use by farmers for agriculture, forestry etc. is
exempt from GST; Reiterates that agriculturists (i.e. individual or an HUF who
undertakes cultivation of land by own labour or of family or by servants or
hired labour under personal supervision) are exempt from taking registration
under GST : Ministry of Finance Press Release
Subscribe to:
Post Comments (Atom)
New Customs Scheme for Manufacturing Sector
The Regulations enable an Authorized Importer to clear the imported goods directly from port to its manufacturing unit (‘ Authorised Premi...
-
Direct Tax · No change in the rate of corporate tax including surcharge & cess.
-
Buyback is an important provision related to Share Capital of a company. Rule 17 of the Companies Act set out norms for buyback...
-
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...
-
The Input Service Distributor (ISD) mandate, introduced in the Union Budget 2024, will take effect from April 1, 2025, as per amendments to ...
-
In this post, I will discuss Secretarial Standards related to Proxies under SS – 2. Right to Appoint: A Member entitled to attend and ...
-
The Union Budget 2025 introduces significant amendments to transfer pricing (TP) regulations under the Income Tax Act. These changes focu...
-
LEASE-DEED (A brief Introduction) Lease defined. A lease of immovable property is a transfer of a right to enjoy such property, mad...
-
The Income Tax Department has developed the latest JAVA base ITR Forms utility. ITR-1 (Sahaj) and ITR-4S (Subam) JAVA base utility has ...
-
Sr No Due Date Related to Compliance to be made 1 11.02.2025 GST ...
No comments:
Post a Comment