Home / Tag Archives: gst

Tag Archives: gst

Rahul Gandhi promises to replace replace Gabbar Singh Tax with single GST slab

RaGa promises to replace Gabbar Singh Tax with single GST slab

INC National President Rahul Gandhi on Saturday promised to bring all goods and services under one tax slab and levy GST on petroleum products if his party comes into power in 2019. Gandhi made the statement while addressing party workers in Jaipur, where he again criticised PM Narendra Modi for …

Read More »

CBIC clarifies applicability of GST on various goods and services

CBIC clarifies applicability of GST on various goods and services

Applicability of GST on Fortified Toned Milk:  Representations have been received seeking clarification regarding applicability of GST on Fortified Toned Milk. Milk is classified under heading 0401 and as per S.No. 25 of notification No. 2/2017-Central Tax (Rate) dated 28.06.2017, fresh milk and pasteurised milk, including separated milk, milk and cream, not concentrated nor containing …

Read More »

GST collection in May falls to Rs 94,016 crore

GST collection in May falls to Rs 94,016 crore

GST collections in May declined to Rs 940.16 billion from over Rs 1.03 trillion in April, the Finance Ministry said on Friday. As many as 6.247 million businesses filed their summary sales return GSTR-3B in the month of May. The total gross GST revenue collected in May 2018 is Rs …

Read More »

GST Council: GSTN to be made a government body

GST Council: GSTN to be made a government body

The GST Council, headed by Union Finance Minister Arun Jaitley, on Friday, agreed to convert Goods and Service Tax Network (GSTN) into a 100% government company. Currently, five private financial institutions — HDFC, HDFC Bank, ICICI Bank, NSE Strategic Investment Co and LIC Housing Finance Ltd — hold 51 per …

Read More »

GST applicable on Transfer of Tenancy Right: CBIC

Transfer of tenancy rights to a new tenant against consideration in the form of tenancy premium is taxable

Central Board of Indirect Taxes and Customs ( CBIC ), today , vide Circular No.44/18/2018-CGST, dated 2nd May,2018 clarified Issue related to taxability of ‘tenancy rights’ under GST. It clarified that services provided by the outgoing tenant by way of surrendering the Tenancy Rights against consideration in the form of …

Read More »