GST Rates

Washing machines are an essential home appliance, and understanding how Goods and Services Tax (GST) applies to them is crucial for both consumers and businesses. Whether you’re buying a new machine for your home or managing inventory as a seller or manufacturer, the applicable GST rate affects pricing, purchasing decisions, and overall cost planning. What Is the GST on […]

GST, or Goods & Services Tax, was introduced in India on the 1st of July, 2017, as a one-in-all indirect tax system. At the time of the launch, GST was divided into the following six tax slabs: Nil, 0%, 5%, 12%, 18%, and 28%.Automobile tyres mostly use natural rubber as inputs. However, applicable GST rates

Transportation is key to India’s economy, linking markets and boosting trade. GST on transport services has reshaped the tax structure, affecting costs and operations. GST rates differ by service type and are categorized under HSN codes, simplifying compliance for businesses.A Goods Transport Agency (GTA) plays a significant role in the logistics sector by providing transportation services for goods.

Solar power is a rapidly growing industry in India, with the government promoting the sustainable growth of innovative solar projects. However, the introduction of the Goods and Services Tax (GST) has impacted the sector, including the GST rates applicable to solar power-based devices and systems. Definition and scope of solar power based devices and system

Goods and Services Tax (GST) is a consumption tax charged on the footwear sale. The tax applies to each phase of the supply chain from manufacturing to retail. The major goal for applying the GST rate on footwear is to ease the process of tax, remove the cascading taxes, and build a clear and consistent tax regime

The Goods and Services Tax (GST) rate on rice, including basmati, non-basmati, and other varieties, is set at 5%. The HSN code for rice is 1006, which covers all forms, from paddy to wholly milled and broken rice. Before the GST regime, rice was subject to taxes like VAT and Octroi, which led to higher prices

Under GST, renting a property is considered a supply of service that is taxable, and both tenants and landlords have to fulfill their tax obligations. Rental income earned by the landlords attracts GST. The tax is calculated as a percentage of the rental income received. The tenants who pay the rent also have to pay

017 tax reforms, 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, you name it. To make things worse, they couldn’t claim refunds for their development costs.  However,

Fundamentally, GST is paid by investors and home buyers while investing in under-construction properties. Before the implementation of GST, several taxes including VAT, stamp duty, service tax, registration charges, etc. had to be paid by home buyers.  With the introduction of GST on real estate, one has to pay taxes only on under-construction properties. Notably, one