gst rates commercial property

The Goods and 100 rebate at the sm store Services Tax (GST) Council has decided to hold only 50 items in the tax bracket.
Tractor parts would attract the Goods and Services Tax (GST) rate of 18 instead of 28 previously.
Suppliers opting for Composition levy shall pay a tax calculated on turnover at the rate as may be prescribed, but shall not be less than.5 in the case of manufacturer and 1 in the case of other suppliers.Agriculture Services of post Harvest and storage reduced to.For Example:-, rajesh, a dealer in Maharashtra sold goods to Anand in Maharashtra worth INR 10,000.If any of the two events occur before the change in rate of tax, then the old rate will apply, else the new rate will apply.The council fixed tax rate of 18 per cent for hotel rooms between Rs disney cruise contest winners 2,000 and Rs 7,500.The GST Council has given two months relaxation to file returns every month.For others late filing penalty reduced from Rs 200 per day to Rs 50 per day.GST is one of the hot topics in the market today; most of them say it will benefit the end-user.Combined GST rate is being discussed by the Government.
All these tax costs add up to anywhere between 25-30 of the price of the units.Most of the real estate developers are anxious about a burden on the sector Since the industry is already under pressure after three years due to slow sales.These issues should be put to rest under the GST regime and the practices and positions should be common across India.28 Nil GST Rates changed in GST Council 20th Meeting held.This will keep stamp duty out of its purview.GST rate structure finalised.There will be no need to file returns in July and August.It will replace all indirect taxes levied on goods and services by the Indian Central and state governments.Initially the principal of equivalance was maintainedwhere in tax on items which were prevalant on items before July was maintained.


[L_RANDNUM-10-999]