GST Rate & HSN Code for Leather and Leather Products

GST Rate for Leather Products

In India, 1st July 2017 marked the beginning of the GST regime. The onset of GST era fixed different rate slabs for different goods and services under which the GST has to be applied. In the GST Council Meeting which took place on 18th May 2017, the tax rate for leather and leather products was fixed by the GST Council.

In this article, we will take your focus on the GST rate & HSN code applicable to leather and leather products in India. Read More

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Best GST Billing Software for All Your Taxation Needs (Get Free Demo)

Best GST Billing Invoicing Software

Gen GST is the best and ultra-secure GST software created by SAG Infotech Pvt Ltd to simplify and accelerate the taxation procedures such as return filing, invoice generation, ITC claims and so on.

Gen GST software comes in three variants – Desktop offline and mobile & cloud online variants. One can easily download and use the desktop variant of the software on a compatible PC or laptop, while the online version is platform- independent and can be accessed and used anywhere anytime. Read More

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Everything About GST Rate on Petrol and Diesel in India

GST on Petrol and Diesel

GST on Petrol and Diesel is a cold-sweat issue for Central and State Government. None of the two seem to desire to include Petrol and Diesel in the GST ambit.

GST regime was rolled in with the objective of “One Nation One Tax “ in July 2017. At that time five petroleum products— diesel, petrol, natural gas, crude oil, and aviation turbine fuel—were kept out of the GST sphere which continued to remain out till date. Neither does it seem to arrive under the purview of Goods and Services Tax (GST) in the near future as the government will have to face a hefty revenue loss. Read More

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GST Rates for Paper Products in India [Complete Updated List]

GST Rates for Paper Products

The Goods and Services Tax (GST) system which was launched in India in July 2017 is an indirect tax system which covers a range of goods and services being supplied within and from India. GST is a consumption-based tax and is applicable to the supply of goods/services at each stage of the supply chain.

Paper products, being a very prominent industry of India, also comes under the coverage of GST. In this article, we will discuss GST rates on the supply of different kinds of paper products, including paper pulp and paperboard. Read More

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Everything About GST Rate on Directors Remuneration (Income)

GST Rate on Directors Remuneration

This article presents details about GST on directors remuneration, GST on sitting fees, commission and so on.

Sections and Notifications for Tax Applicability

Under section 9(3) of CGST Act & section 5(3) of IGST Act, the government has the authority to notify the levy of GST on RCM basis on goods and services.

According to the government notification through entry no. 6 of Notification No. 13/2017- Central Tax (Rate) dated 28th June 2017 & entry no. 7 of Notification No. 10/2017- Integrated Tax (Rate) dated 28th June 2017, any services provided by a director of a company to the concerned company would come under reverse charge. Read More

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Applicability of GST on Under Construction Flats in India

GST on Under Construction Flats

The government has recently revised GST applicability and rates on both under-construction properties and ready-to-move-in flats. The new rates will be applicable from April 1, 2019.

GST (Goods & Services Tax) is an indirect tax system which was implemented in India on 1st July 2017 thereby replacing all the existing indirect taxes on the supply of goods and services. Here we will discuss the important points about GST on under construction flats. Read More

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GST Rate on Completed Flats or Ready to Move Apartments in India

GST Rate on Completed Flats

GST (goods and Service Tax) is an indirect tax which applies to all supply of goods and services. When it comes to buying a home, GST is applicable but only on under-construction properties because here construction refers to the supply of service.

How is GST Applicable to Completed Flats?

When we talk about the fully constructed apartment or home, there is no GST rate on completed flats.

This is because a completed project – ready-to-move apartment or villa is neither a good nor a service. When the property is under construction, the developer is giving a service to the buyer by building or constructing the project and so the GST is imposed. But in a completed project, there is an absence of service and so no GST is applicable. It is a property on which stamp duty is paid. Read More

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