Advocate Shruti Goyal

Businesses use many capital goods for their operations. It is to be noted that tax paid on these capital goods can be availed as input tax credit.The word capital goods has been clarified in GST law. Capital goods refer to the goods, whose value is capitalized in the books of account of the person who is […]

The word motor vehicle or renting of a motor vehicle is not defined under GST law. But as per Motor Vehicles Act, 1988, a motor vehicle means “any mechanically propelled vehicle used on roads but does not include a vehicle running on fixed rails or a special vehicle used in a factory or an enclosed premises

GST applies to under-construction properties awaiting a completion certificate or ready for occupancy. Just like buyers, GST benefits developers as well. Before GST, developers were bogged down by a series of taxes–VATs, central excise, entry tax GST on Residential Property Purchase GST is applicable only to under-construction or new homes, not to ready-to-move-in properties or

The GST Council introduced GST on transport services to create a uniform tax rate structure. After implementing GST, the GST Council in India shall decide the GST rates for services and goods. The GST Council consists of members from the Central Government and members of the State Government. The GST Council conducted multiple meetings in

An agent is defined under the GST law as a person who carries on the business of supply of goods or services on behalf of another person (principal). An agent includes a broker, commission agent, factor, auctioneer, or a mercantile agent. He carries out activities under the principal-agent relationship.he general GST rate on commission and brokerage services

Telecom services were levied a service tax of 14% along with a Swachh Bharat cess of 0.5% and a Krishi Kalyan cess of 0.5%, totalling 15%. However, with the GST regime going live on 1st July 2017, telecommunication services, including broadband services, were classified into a higher tax slab. As a result, the GST rate for broadband services now

GST rate for all goods and services was notified by the GST Council in June 2017. To create a standardized tax across India after the implementation of GST, the Ministry of Finance mapped the GST rate to the HSN code. GST is levied under five tax rates, namely 0%, 5%, 12%, 18% and 28%. HSN Code & GST Rate

Goods and Services Tax (GST) is an indirect tax. It is imposed on the supply of goods and services across the country. It has brought uniformity in the indirect tax hierarchy by replacing all the indirect taxes that existed in the pre-GST regime. GST on Banquet Hall and Catering Services India, hotels, and large Banquet

Banks requires the account holders to maintain a certain minimum average balance in their savings or current account during a month. This threshold is known as Average Monthly Balance. If the customer is unable to maintain the required minimum balance, banks charge AMB charges incl GST from the account holders. However, is it important to

GST rates of bamboo products to other wood products, it’s evident that bamboo enjoys a favorable position, reflecting its status as a sustainable resource and the government’s intent to promote environmentally friendly materials. GST Rate of Bamboo Products The GST rate for bamboo products is generally set at 12%. This rate applies to most products made