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GST FAQs on Texttiles Industry

Question 1: As per Chapter 53 heading 5303 of the GST rate schedule, raw jute has been kept at the NIL rate slab. Thus, it is presumed that suppliers dealing only in raw jute are not required to register themselves under GST. But Jute Mills are asking their raw jute …

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GST REGISTRATION PROCEDURE HAVING PROVISIONAL ID

Registration of Existing Tax Payers at New GST Portal with Screenshots All existing taxpayers and VAT dealers will be given a provisional ID and a password. You first need to create your username and password using this provisional ID and password at the GST Common Portal – www.gst.gov.in. It is assumed …

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GST RATES DECLARED

GST RATES DECLARED The Goods and Services Tax (GST) has been one of the key things that has caught the attention of the market given its implications on earnings of companies. The government has kept a large number of items under 18% tax slab. The government categorised 1211 items under …

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GST IMPACT- PAY LESS IN RESTAURANTS

If you visit in a restaurant you will find Service Tax, Service Charge, VAT being added over and above the food value. Under the GST regime service Tax and VAT amount will be subsumed into one single rate, but you may still find service charge doing rounds in your food bill. …

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GST WILL SAVE YOUR MONEY

The government has a deadline of 1st July 2017 for implementation of GST. GST will drop the price of a product because it has Input Credit benefit at all levels say from Manufacturer to Retailer . Let’s understand if GST is get implemented, how will your spending pattern change with …

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GST IMPLEMENTATION FROM 1st JULY 2017

  The Goods and Services Tax (GST) will be implemented from July 1 as all states have agreed on the implementation date, Economic Affairs Secretary Shaktikanta Das said on Tuesday, 28th February 2017. “GST should be implemented by July 1. All states have agreed (on the date),” Das told reporters in New Delhi. The government …

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No Decision yet on Dual Control

For those of you who were expecting decisions from the GST Council facilitating early implementation of GST, there is disappointment in that the impasse on Dual Control besides other issues like Jurisdiction over Territorial Waters, Split between SGST and CGST of the agreed rate structure continues. Administration of IGST is …

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