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In a proposal put forward by the government, it has been suggested that the Goods and Services Tax (GST) rate on electric car batteries should be reduced from current 28 percent to 12 percent – the same rate which is applicable to electric cars.
According to the Authority for Advance Ruling (AAR) for GST in Maharashtra it is stated that the engineering, procurement and construction (EPC) activities are understood as ‘work contract’ and therefore liable to be taxed at 18 percent GST, and according to the ruling, it may hike the cost of setting up of solar plants.
From 7.1% in 2016 to 6.6% in 2017, the fall in GDP rate had raised a lot of eyebrows and serious questions were asked about the effectiveness of implementing GST post Demonetization.
In a recent decision taken by Maharashtra authority of advance ruling, it was announced that the business vehicles sold in scrap would attract GST no matter the age of the vehicle.
New Delhi, the National Capital, and Mumbai, the Financial Capital, are now recording an unprecedented increase in petrol and diesel prices.
The GST Tran-1 which was introduced by the GST council along with the implementation of goods and services tax is a form meant for filing in order to avail the older credit of taxes paid before the coming of the goods and services tax.
In the latest regulation and implication under the rental of commercial space and businesses of such origin, the government had cleared that the transfer of tenancy rights is liable for the tax as a service.
Before the millennium ushered in and the internet brought all Indians with their diversity and differences on a common platform, BATA was one brand that enjoyed nationwide trust. The Switzerland-based brand that manufactures shoes, as well as fashion accessories, was founded in the Czech Republic in 1894.
GST is a new form of indirect tax in India. It is also at times termed as the tax levied on the sale of Goods and Service. As an aftereffect of the soon to be one-year-old GST system in India
