CGST – GST COUNCIL MAY TAKE UP CERTAIN TAX ISSUES AT AUGUST MEET PTI PRESS RELEASE, DATED 21-7-2017 The GST Council at its meeting next month is likely to take up taxation issues raised by sectoral bodies along with a review of the implementation of the new tax regime, a top official said. Central Board of… Read More »
Benefits of GST for the Transport Sector The transport sector stands to benefit from the recently rolled out GST in several ways. Pre- GST, the complex tax structure and paper work forced the transport industry to spend a lot of resources on tax compliance and deposit of interstate sales tax. Monitoring and collection of sales… Read More »
Benami Transactions Across the Country The Government of India has taken several steps to address the problem of benami transactions across the country. (i) The Benami Transactions (Prohibition) Act, 1988 (the Act) was comprehensively amended through the Benami Transactions (Prohibition) Amended Act, 2016 to provide for an effective regime for prohibition of benami transactions. The… Read More »
Revision of guidelines of Sovereign Gold Bonds Scheme The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given approval for revision of guidelines of Sovereign Gold Bonds (SGB) Scheme with a view to achieve its intended objectives. Two sets of changes have been made in the scheme: I. Specific changes have been… Read More »
CGST – RE-ORGANIZATION OF CBEC FIELD FORMATIONS IN GST REGIME – MERGER/CREATION OF DDO FOR MAKING EXPENDITURE OFFICE MEMORANDUM [COORD/2(1)/DDO CODES/2017-18/VOL.XI39], DATED 26-7-2017 Consequent upon the declaration of Heads of Departments in the field formations of CBEC in GST regime videsanction letter No. A-11013/24/2017-Ad.lV, dated 12-6-2017, issued by Deptt. of Revenue (C.B.E.C), changes have happened in the… Read More »
What is the HSN code and rates for Sausages? Sausages and similar products, of meat, meat offal or blood; food ; preparations based on these products fall under heading 1601 and attract 12% GST. GST Rates FAQs on queries of Various Sectors Clarified by Govt Related Topic on GST Topic Click Link GST Acts Central… Read More »
What is the HSN code and rates for Coffee? Instant Coffee falls under heading 2101 and attracts 28% GST. GST Rates FAQs on queries of Various Sectors Clarified by Govt Related Topic on GST Topic Click Link GST Acts Central GST Act and States GST Acts GST Rules GST Rules GST Forms GST Forms GST… Read More »
What is the HSN code and rates for Mutton leg? Meat of sheep or goats (including mutton leg), fresh, chilled or frozen [other than frozen and put up in unit container] falling under heading 0204 is exempt from GST However, meat of sheep or goats (including mutton leg), frozen and put up in unit container,… Read More »
What is the HSN code and rates for Soft drinks i.e. aerated drinks? All goods [including aerated waters], containing added sugar or other sweetening matter or flavoured falling under heading 220210 attract 28% GST and 12% Compensation Cess. GST Rates FAQs on queries of Various Sectors Clarified by Govt Related Topic on GST Topic Click… Read More »
What is the classification and GST rate for man-made fishnet twine? As per the HSN Explanatory Notes, goods of man-made fibres (including those yarns of two or more’ monofilaments of Chapter 54) measuring 10,000 decitex or less are classifiable under Chapter 54 or 55 as yarn and attract 18% GST. Goods of man-made fibres (including… Read More »