Search results
Results From The WOW.Com Content Network
Under Indian GST Act, 2016, Any supplies (supply should be defined in accordance with GST India) made by a registered dealer as an export (both goods or services) or supply to an SEZ qualifies for Zero Rated Supplies in GST. This attracts zero rate of taxation and ITC (Input Tax Credit) can also be explained through the e-portal of GST Council.
The tax rates, rules and regulations are governed by the GST Council which consists of the finance ministers of the central government and all the states. The GST is meant to replace a slew of indirect taxes with a federated tax and is therefore expected to reshape the country's $3.5 trillion economy, but its implementation has received criticism.
A dual GST module for the country has been proposed by the EC. This dual GST model has been accepted by centre. Under this model GST have two components viz. the Central GST to be levied and collected by the Centre and the State GST to be levied and collected by the respective States.
The Goods and Services Tax (GST) is an abolished value-added tax in Malaysia. GST is levied on most transactions in the production process, but is refunded with exception of Blocked Input Tax, to all parties in the chain of production other than the final consumer. The existing standard rate for GST effective from 1 April 2015 is 6%.
How to Apply New ITC Rule and what will be the treatment of ITC in the Gst Returns through the blog, we will understand everything of GST input tax credit rules 36(4) — Preceding unsigned comment added by SAJID112233 (talk • contribs) 17:09, 2 October 2020 (UTC)
SIIDCUL was incorporated as a Limited Company in the year 2002 with an authorised share capital of ₹50 crores and ₹20 crores paid up capital through the Government of Uttarakhand in order to promote industrial development and develop an industrial infrastructure.
It is a Miniratna company under the Ministry of Communications & IT. In 2010-2011 financial year, the turnover of the company was 1833 crore. [8] Pan-African e-Network project for Tele-medicine and Tele-education was implemented by the company on a turnkey basis.
The existing general sales tax laws were replaced with the Value Added Tax Act (2005) and associated VAT rules. A few states ( Gujarat , Tamil Nadu , Rajasthan , Madhya Pradesh , Chhattisgarh , Jharkhand , Uttarakhand and Uttar Pradesh ) opted to stay out of VAT taxation system during the initial introduction of VAT but adopted it later.