Tax Updates
HSN Code Wise GST Goods Rate Chapter/Heading/Sub Heading/ Tariff item Description of Goods GST Rate % Compensation Cess 0303 Fish, frozen, excluding fish fillets and other fish meat of heading 0304 5 Nil 0304 Fish fillets and other fish meat (whether or not minced), frozen 5 Nil 0305 Fish, dried, salted or in …
Basis Concept of Reverse Charge Mechanism in GST Hello Readers! In this article, we will understand the Basis Concept of Reverse Charge Mechanise in GST. As we aware that generally supplier is liable to collect and deposit the tax to Government. However, under the Reverse Charge Mechanism Recipient of supply of Goods or Services is …
Reminder Chart Statutory Due Dates Statutory Due Date for the month of October 2018 October 2018 5th October Due Date for Filing of DIR -3 KYC form of all directors. (Extended Date) 7TH October Due date for payment of Tax Deducted / Collected for the month of September 2018. 7th October Due date for …
GST SAC Code List GST SAC Code List – NEW SCHEME OF CLASSIFICATION OF SERVICES Heading & Group Service Code (Tariff) Service Description Construction Services Heading No.9954 Construction services Group 99541 Construction services of buildings 995411 Construction services of single dwelling or multi dewlling or multi-storied residential buildings 995412 Construction services …
GST Input Tax Credit – Eligibility, Conditions, Apportionment and non-availability A. Eligibility – Every registered person shall be eligible to take input tax credit in respect of input tax charges on any supply of goods or services or both, which are used or intended to be used in the course or furtherance of his business. …
Key points of transitional Provisions under GST Act. 1. Migration of Existing taxpayers. (Section 139) On and from the appointed day, every person registered under any of the existing Indirect tax law and having a Valid PAN shall be issued a certificate of registration on provisional Basis. Provisional registration can obtain directly by applying for provisional registration …
GST Electronic Way Bill Electronic Way Bill is new concept under GST regime. Eway is required only in case of Goods. Under Electronic way bill, every registered person should have furnished information, prior to commencement of movement of goods. In this Article, we will have discussed various concept of Electronic way bill. Furnishing of Information …
How to determine Inter State Supply or Intra State Supply Under GST As we know that determination of place of supply is one of the most important aspects of GST. Taxpayers as well as government is always keen to know that whether supply is inter state supply or intra State supply since in case of …
How to determine place of supply of Services other than import and Export of Services. 1. Section 12 of IGST Law deal with place of supply of services other than supply of services imported into or exported from India. In other words, we can say that section 12 deal with supply of services where location …
Determining place of supply for Goods other than import and Export. Section 10 of IGST Law deal with determining place of supply for Goods other than supply of goods imported into or exported from India. In other words, we can say that section 10 deal with supply of goods from India to India. As per …
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