CA Bhavesh Jhalawadia
The Circular No. 178/10/2022-GST,dated 03.08.2022 has focused on GST Applicability on liquidated damages, compensation and penalty arising out of breach of contract or other provisions of law There has always been question whether GST will be applicable or not on damages, penalty, compensation etc. I have personally observed that many officers directory take resort of … Read more
E-e way bill for gold jewellery As per the Government recommendation, E-Way Bill generation has been provisioned for movement of Gold (HSN Chapter 71) for all Intrastate and Interstate transactions. The taxpayers of the state may generate the eway bill for gold as per the notification issued by their respective states. The e-Waybill for Gold … Read more
There are three types of industries from turnover point of view. Small Turnover industries Medium Turnover Industries Large turnover Industries. It is usually found that the small turnover industries cannot afford excessive compliances and consulting of highly professional personas. Even very difficult for them to identify the rates of various products and services and … Read more
Frequent changes in GST law requires many new updates in GST portal in various forms like GSTR-1, GSTR-3B, and GSTR-9 etc. It’s very important to know the GST portal updates for those who are engaged in GST compliances work. Recently GSTN has made available the new functionalities for taxpayers on GST Portal in August, 2022. … Read more
In GST looking to complexity, ambiguity, technical problems in portals, different of opinions between GST Officers and tax payers, huge notifications, frequent amendments in GST law, next coming years the court will be over burdened with huge GST Appeals. Today already there are huge pending appeals in various courts for old tax regimes like service, … Read more
From 01.04.2019 there is drastic change in GST for real estate sector. There is GST of 1%, 5% and 12% depending upon the construction project. In real estate sector, the major challenge is deciding the accurate GST rate. Many buyers of residential and commercial properties remain in confusion due to different GST rates charged by … Read more
GST on hostel accommodation services have undergone some changes from July,2022. Withdrawal of gst exemption in accommodation under gst is going going to take effect from 18.07.2022. If accommodation charges in hotels, , inn, guest house, club or campsite is up to Rs 1000 per day, then it is exempt till 17.07.2022. But w.e.f. 18.07.2022 … Read more
Gst rate changes from 18 july 2022. There are huge changes in GST Rates for goods. In majority cases Un branded products also now shifted from exemption to taxable goods. (5% GST now in most cases) Such products remain exempt if they are un branded and not in pre-packaging condition at the time of sale. … Read more
Transportation plays the most important role in the economy of India as it connects all the businesses concerned with goods. Any changes or problems in transportation sections always affects the the entire business channel. Goods transportation is done by road, by rail, by vessels and by air. Here we are going to discuss about changes … Read more
This article covers complete information about works contract along with works contract hsn code and gst rate. In works contract services, total three types of Works Contract GST rates on works contract services. That is 18% GST, 12% GST and 5% GST. Let me clear here, hsn code will be always 9954 for works contract … Read more