GST Era in India - One Nation One Tax

किसी भी डीलर के GST no. को सर्च करने के लिए ये लिंक फॉलो करे। GST no. डालें, captcha code डालें और सर्च करें।

services.gst.gov.in

tax on GTA under RCM section12(8) ऑफ़ IGST Act, 2017

GTA का Address - Kolkata
Company(recipient) का registered Address - Kolkata
CGST & SGST will be levied.

GTA का Address - Kolkata
Company(Recipient) का registered Address - Haryana
IGST will be levied.

Place of supply उस state को माना जाता है जहाँ service receipnt का registered address है।

From 20 January 2017, Bank Rules

#1. Fees for internet banking/mobile banking is Rs 25/-

#2. Maximum Cash Deposit in onr day can be made Rs.2 Lacs

#3. Fees for PIN and Password is Rs.10/-

#4. Max. Withdrawal by self cheque is Rs.50,000/-

#5. In Current Account/Cash Credit Account/Overdraft Account cash in one day can be deposiyed upto RS.25,000/- for free then Rs.2.50/- per thousand fees will be charged.

21st GST counsel meeting

GST rates changed for 30 items, deadline for GSTR 1 filing extended to October
By ECONOMICTIMES.COM | Updated: Sep 09, 2017, 08.26 PM IST

Progress of implementation was on of the biggest issues before the GST Council, FM Jaitley told the media after the meeting.
In a significant development, the government today decided to rejig GST rates for as many as 30 items. The decision was made at the GST Council meeting held in Hyderabad.

If GST was making you anxious about your small car buying plan this Diwali, there is some relief for you. Finance minister Arun Jaitley announced no change in tax for small cars.

"There will be no additional burden on small car buyers," the FM said after the 21st meeting of the GST Council.

Jaitley said there will be a status quo on tax rates on 1200cc petrol and 1500 cc diesel cars. The council decided to increase total tax on midsize cars from 43% to 45%. Tax on large cars was raised to 48% from 43%.

On SUVs, total tax would now be 50% instead of 43%. There was no increase in total tax on 13-seater vehicles.

Here is how it stacks up for now:

► Small cars, 13-seater vehicles & hybrid cars : No change
► Mid-size cars increased by 2%
► Large cars increased by 5%
► SUVs increased by 7%

Progress of implementation was on of the biggest issues before the GST Council, FM Jaitley told the media after the meeting.

The FM said overall GST collection has been quite robust at Rs 95,000 crore for July, with 70% of those registered already filing their returns.

Business News, Finance News, Market News, Personal Finance News, Economy News, Share Market News- The Economic Times Latest Business News – Find Financial news, Stock/Share Market News & Economy News, Banking News, Investment analysis, Mutual Funds, Gold, Forex and Real Estate.

Taxes Paid on 20th September, 2017 at night 11pm through netbanking.

Amount is credited to the Government's A/c after 12 o'clock i.e., on 21st September, 2017.

It shall be considered 1 day late payment of tax.

So if the amount of tax would had been Rs.1,00,000/- then simple interest @18% p.a. for 1 day will be paid i.e., 49 rupees

Calculation:-

(100000 X 18% X 1/365) = 49.31
Rounded off at the nearest of rupee one

Payable amount Rs.49/-

Rounding off provision under GST

Any amount - Input Tax, Output Tax, Refund, Electronic Credit Ledger, Electronic Cash Ledger, Interest, Penalty, Fine etc.

Round nearaest to rupee 1(one)

I.e., if paise more than 50, consider it as rupee one

if paise less than 50, consider it as zero

E.g., in GST, Rs.156.58 shall be considered as Rs.157

Rs.156.42 shall be considered as Rs.156.00

Input Tax Credit availment on Purchase of Capital Goods/Plant & Machinery swctiin 16(2) of Cgst Act, 2017

Earlier (Excise Duty)-

CENVAT availment 50% in 1st year and 50% in subsequent years

Now (GST) -

CENVAT shall be availed in full at one time in the year of actual receipt of capital goods.

In case of capital goods purchased on Installment Basis, CENVAT can be availed in full on the receipt of the last installment.

If capital goods are received in lots/instalment, CENVAT can be availed in full in the year in which last lot of such capital goods received by the entity.

Comparison between casual tax payer "s benefit and Composition tax payer's benefit

If a Taxable Person has taken Registration in GST and he supplies both the taxable and exempt goods/services, he shall not have to issue two types of invoices separately for taxable and exempt supply.

Only Tax Invoice shall be issued.

He shall continue to issue tax invoice serially and whenever he supplies exempt goods/services, he shall mention nil taxes on Tax Invoice.