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GST (Goods and Services Tax) India, HSN

The service sector is one of the dominant sectors in India. It provides millions of jobs every year dna still going strong. It is accounted to be 92 lakh crores of GVA  at present. The same also attracts FDI, so it is important for the domestic and internationally service providing companies to know about SAC codes as defined under Goods and Services Tax.   What is SAC Code SAC (Services and Accounting Code) codes are based on the Harmonized System of Nomenclature which is an internationally recognized system for classifyingSEE DETAILS

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e-way bill

The government has introduced the concept of E Way Bill under GST, after abolishing the Border Commercial Tax Post to avoid tax evasion in India. In this guide we will explain you each and every aspect, rule and answer all the queries related to e-way bill system under GST in India. This guide shall cover – What is the meaning of E way bill?Under which section e way bill is required?What is the date from which e way bill has been made compulsory?What are the benefits of e way bill?HowSEE DETAILS

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GST (Goods and Services Tax) India

India’s biggest tax reform – GST was introduced on 1-July-2017. It was introduced after 10 years of research and a countless number of meetings. By the introduction of Goods and Services Tax, it brought the internationally used HSN codes into Indian trade business. Contents :- What is GST Goods and Services Tax (GST) is the value-added tax levied on goods and services we use in the country. It is a single tax structure removing all the previous central and state taxation system. What are GST Rates GST is the singleSEE DETAILS

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GST (Goods and Services Tax) India

Contents :- What is Central Goods and Services Tax (CGST) What is State Goods and Services Tax (SGST)? What is the Union Territory Goods and Services Tax (UTGST)? What is Integrated Goods and Services Tax (IGST)? How to set off GST amounts? FAQ’s The GST (Goods and Services Tax) regime was introduced on July 1, 2017. It is one of the most significant and revolutionary indirect tax reforms in India post-independence. GST subsumed a number of indirect taxes levied by the Central and State Governments. Taxes such as Central ExciseSEE DETAILS

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GST (Goods and Services Tax) India

The 31st GST council meeting was held on 22 Dec 2018 and some major decisions into Goods and Services Tax law for reduction in rates were pronounced by the council. Get a brief about the important changes and their press release given effect in this meeting. Reductions in rates( press release) In 31st GST council meeting these prominent decisions were taken CategoryOld GST RateNew Reduced rates Cinema tickets above Rs. 100 28%18%Cinema tickets upto Rs. 10018%12%Third party insurance premium of goods carrying vehicles18%12% Air travel of pilgrims by Non-scheduled orSEE DETAILS

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