Prepay these common services to avail LTC Cash Voucher Scheme benefitServices that attract more than 12 per cent Goods and Services Tax (GST) include TV DTH recharge (TATA Sky, Airtel Digital TV etc.), Intern...
Govt employees can submit multiple bills to avail LTC cash voucher scheme benefitThe Expenditure Department, under the Ministry, has issued a set of FAQs (Frequently Asked Questions) on LTC cash voucher scheme, clarifyin...
GST Network issues FAQs on invoicing scheme ahead of Oct 1 launchThe GST Network issued clarifications through frequently asked questions on Monday, ahead of the October 1 launch of the scheme for busines...
Home buyers to pay 12% GST on balance due if completion certificate issued by March 31Builders will not be able to adjust the accumulated credits in ongoing projects in case they opt for lower new GST rate of 5% for normal an...
Builders to refund GST on cancellation of flats booked in FY19Builders will now have to refund GST on cancellation of flat booked in the last fiscal, I-T dept said.
Government clarifies: Here's how GST impacts your moneyThe government's detailed clarifications on banking, insurance and capital markets seek to address some pertinent issues relating to the in...
Government clarifies GST applicability on financial servicesThe revenue department has clarified that transactions relating to securitisation, derivatives, future and forward contracts are exempt.
No GST on food served by hospitals to in-patientsHowever, patients not admitted will have to pay tax on the total value of food served by the hospital.
No GST on housing society maintenance up to Rs 5,000Maintenance charges are collected by a co-operative housing society for purposes like providing security, lift upkeep, maintenance of commo...
Fringe benefits availed by employees liable to GSTThe fringe benefits are transactions in furtherance of business. "Even if supplied without consideration, the same are deemed supply" and w...
Banks to pay 3% IGST on gold importsImport of gold attracts a 10 per cent basic customs duty. On top of that a 12.5 per cent countervailing duty (CVD) was levied prior to GST.
Here's how your business needs to change for GSTAll GST compliance will be paperless. GST returns will have to be filed online. Therefore, it will be beneficial to move to an electronic s...
Government uses Twitter, FAQs to address GST concernsBusinesses, especially SMEs, have several queries -from applicability of the Rs 20-lakh threshold on restaurants to details of the new regi...
Taxi aggregators, ecommerce companies must register for GSTEcommerce players such as Flipkart and Amazon will also need to register under GST regime irrespective of value of supply made by them.
268-page GST FAQs out; e-tailers, aggregators to registerThe FAQ booklet said penalty could extend up to five years of jail with a fine if the tax evaded is more than Rs 2.5 crore.
Frequently Asked Questions (FAQs) on Goods and Services Tax (GST)GST is a single tax on the supply of goods and services, right from the manufacturer to the consumer.. Credits of input taxes are paid at e...
GST will see better tax compliance on robust IT infrastructure: GovernmentTo a question, how would GST be administered, the FAQs said keeping in mind the federal structure of India, there will be two components of...