Manufacturers / Service Provider / Trader whose annual turnover is below Rs.20 Lakh* need not pay any GST and need not register. Those with annual turnover upto Rs.75 Lakh# can opt for composition scheme in which case the tax rate will be as follows: GST Rate of Composition Traders Manufacturers Restaurants 1% 2% 5% *This limit […]
Single Tax to bring down prices for more households 81% of items to fall below/in 18% GST Slab GST @ 0% GST @ 5% GST @ 12% GST @ 18% Unpacked Food Grains Sugar Butter Hair Oil Fresh Vegetables Tea Ghee Toothpaste Unbranded Atta Roasted Coffee Beans Almonds Soap Unbranded Besan Edible Oil Fruit Juice […]
On current tax system in majority of services we pay 15% tax which include service tax 14%, Swatch Bharat 0.5% and Krishi Kalyan Cess 0.5%. As per the new four tier GST system majority of the services are falling in 18% tax category. Let’s discuss the impact of GST on our daily used services Air […]
