GST rate of 1% in case of affordable houses and 5% on construction of houses Ministry of Finance Decisions taken by the GST Council in the 34thmeeting held on 19thMarch, 2019 regarding GST rate on real estate sector GST Council in the 34th meeting held on 19th March, 2019 at New Delhi discussed the operational […]
Goods and Services Tax (GST) reforms has resulted in increased tax base
Goods and Services Tax (GST) reforms has resulted in increased tax base Ministry of Finance GST, the biggest taxation reform, led to increase in tax base, higher collections and ease of trade Rates continuously reduced providing relief of about rs. 80,000 crore annually to consumers Most items of daily use of poor and middle class […]
GST Revenue collection for January 2019 crossed one lakh crore rupees
GST Revenue collection for January 2019 crossed one lakh crore rupees Ministry of Finance The total gross GST revenue collected in the month of January, 2019 is Rs 1,02,503 crore of which CGST is Rs 17,763 crore, SGST is Rs 24,826 crore, IGST is Rs 51,225 crore (including Rs 24,065 crore collected on imports) and […]
No GST on sale of complex/ building and ready to move-in flats
No GST on sale of complex/ building and ready to move-in flats Ministry of Finance Effective tax rate on complex, building, flat etc. It is brought to the notice of buyers of constructed property that there is no GST on sale of complex/ building and ready to move-in flats where sale takes place after issue […]
Applicability of Goods and Service tax (GST) on Static Catering Services on IR
Applicability of Goods and Service tax (GST) on Static Catering Services on IR GOVERNMENT OF INDIA MINISTRY OF RAILWAYS (RAILWAY BOARD) No. 2012/TG.III/631/2 New Delhi Dated 01.12.2017 The General Managers All Indian Railways The CMD/IRCTC New Delhi CMD/KRCL, Navi Mumbai (Commercial Circular No. 79 of 2017) Sub: Applicability of Goods and Service tax (GST) on […]