The indirect tax structure on cement has always been a subject matter of discussion amongst industry members, Government officials and tax experts.
GST Council had last month fitted over 1,200 goods and 500 services in the tax brackets of 5, 12, 18 and 28%.
The GST Council had last month fitted over 1,200 goods and 500 services in the four tax brackets of 5, 12, 18 and 28 percent.
As we all know that implementation of GST would undoubtedly impact one’s personal finances especially when it comes to financial services.
Arun Jaitley said that GST to be enacted in over a month, will not only check evasions but also help India to evolve as a more tax-compliant society.
GST regime will roll out from July 1, apartment owners have to pay about 2.5% additional tax on maintenance charges. That tax is applicable on flat owners who pay a maintenance charge of above Rs 5,000, excluding property tax, stamp duty, and electricity and water charges.
Transactions fees of financial services become more expensive after government may put 18% tax in the new (GST) regime.
On Friday Goods and Services Tax Council take up the crucial issue of taxation of services on precious metals such as gold.
The ratification of the newly introduced bill in state assemblies across the country is crucial for rolling out of the new pan-India indirect tax regime.
GST regime as it seeks to give a boost to local manufacturing, ward off Chinese imports and induce companies like Apple to make in India.