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Implementation of GST in July 2017 was a major and transformation step towards reformation in the indirect taxation system in India with a vision of “One Nation, One Tax”, after revolutions such as Make-in-India and Digital India by the BJP-led government to bring in comprehensive growth and economic evolution throughout the nation. Under GST – […]
The Indian Air Force has appealed the Directorate of Revenue Intelligence (DRI) to see in a new light the imposition of huge integrated goods and services tax (IGST) on parts of aircraft which attract no tax under the harmonised system nomenclature (HSN) code pursued by GST for putting the goods under five tax rate slabs […]
GST is an indirect tax that is collected on all goods and services in India. In the educational sector, there are certain educational courses and training programmes which are devoid from GST since the government is focused on providing education to each and every child in the country. On the flip of the coin, the […]
There is no need for me to elaborate on the importance of mobile phones in our lives, everyone is well aware of how essential is a mobile phone for us. India has the second leading mobile market in the world. A variety of mobile phones, smartphones, and mobile accessories are sold by micro, small and […]
Increment in the GST rate on luxury cars to 25% led to the agitation among the luxury carmakers. The cold sweat scenario has now reached the crest and other carmakers are also joining the behest made by Rohit Suri who is the head of Jaguar Land Rover, India about discarding luxury cars as ‘sin goods’ […]
Any Joint Development Agreement or JDA of commercial project or sale of development rights is not exempted from GST. For now, it is mandatory to clear all sorts of confusion on GST rates for Joint Development Agreement or development right sale, especially for commercial projects. While certain exemptions are allowed for the transfer of development […]
Goods Transport Agency (GTA): The transportation services of goods by road under Notification No. 12/2017-Central Tax (Rate) dated 28.06.2017 (sr.no.18), are free from GST Services (Heading 9965): (a) By road except for the services of: (b) By internal waterways. Latest Update Thus, it is to be considered as the transportation of goods by road, unless […]
Society of Indian Automobile Manufacturers (SIAM) has recommended that to reduce the tax rates on electronic vehicles from 12 percent to 5 percent under GST to promote such vehicles in India, apart from providing one-time Income Tax (I-T) deduction of 30 percent on prices of e- vehicles for non- financed buyers.
Measures for defending the MSME sector from suffering more due to high GST rate – The Consumer Price Index (CPI) is in the midst of the preparation process of a memorandum on the GST for the MSME sector, which is under crisis due to high tax rates. In the scenario when various industrialists and sectors […]
