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sundaethinker · 1 year

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Waste Of Batteries - GST Rates & HSN Code 8548

As we all know, batteries are essential components of many electronic devices, and they play a crucial role in our daily lives. These batteries, however, are not infinitely useful, and they eventually stop working. This leads to a big problem in terms of waste management, as most batteries contain toxic substances that can harm both the environment and human health. Hence, the government has introduced GST rates and HSN codes for the waste of batteries to regulate their disposal.

To read more: Waste of Batteries

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#GST Rates #HSN #Code #Swipe

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legalbusinessservice · 1 year

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GST Tax Rate: What are Rate of Taxes under GST?

What is GST in India?

GST is one oblique tax for the complete nation, so that it will make India one unified not unusualplace market. GST is a unmarried tax at the deliver of products and services. GST is a destination-primarily based totally tax this is levied simplest on cost addition at every level due to the fact credit of enter taxes paid on the procurement of inputs can be available. Thus, the very last client will endure simplest the GST charged with the aid of using the closing provider withinside the deliver chain, with set-off blessings at all of the preceding stages What taxes can be levied below GST? Since India is a federal country, Centre Government and State Government each have powers to levy taxes. Under GST regime, the Centre and State each have the strength to levy GST. Therefore, GST in India is split into parts:

Central GST (CGST) State GST (SGST) GST can be divided into components, one is CGST that's levied with the aid of using Central Government and different is SGST that's levied with the aid of using State Government. However, there can be one extra form of GST is Integrated GST (IGST). IGST can be levied on inter-nation transactions. Since there are possibilities that humans gets burdened in case of transactions among folks of distinctive States and there can be problem placing off dues of taxes among States, for this reason IGST can be levied with the aid of using the Centre. Now, the Centre will apportion the State’s part of GST from IGST to the applicable State.

In India, there may be a huge socio-monetary hole and it'd now no longer be viable to levy the equal price of tax for essential gadgets like milk and comfort gadgets like BMW Cars. Therefore, it turned into vital to set distinctive charges for distinctive lessons of gadgets.

There are 4 slabs constant for GST Rates – 5%, 12%, 18% and 28%.

Items exempted below GST: Milk, eggs, curd, buttermilk, Fresh greens and fruits, Un-branded wheat and rice, un-branded flour, Puja Items

Items below 5% Frozen Vegetables and Fruits, branded wheat and rice, branded flour, hand-made protection matches, cotton, cotton fabrics, Footwear beneathneath Rs.500 Items below 12% Butter, Cheese, Dry fruits, cellular phones, ayurvedic products

Items below 18% Biddi wrapper leaves, biscuits, shoes exceeding Rs. 500, man-made fiber, hair oil, soap, toothpaste

Items below 28% Biris, LED TV, AC, Cars, tobacco products, cement .

#Gst #gst registration #gst rates

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seair-exim-solutions · 2 years

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#gst rates #globaltradedata #tradedatabase #Import Duty

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gsthead · 2 years

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The 47th GST Council Meeting took place on 28th and 29th June 2022 to address multiple important issues like GST rate changes for an array of goods and services, compensation cess, E-way Bill and E-invoicing changes and so on. Chaired by Union Finance and Corporate Affairs Minister Smt. Nirmala Sitharaman, the 47th GST Council Meeting was held in Chandigarh, Punjab.

#gst council #gst council meeting #e-invoices #gst rates

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lovehemapriyakanakkupillaifan · 2 years

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Documents for GST Registration

The registration under GST is mandatory for business entities based on criteria of turnover or activities.The price of goods and services is expected to reduce under the new reform, while the economy will receive a healthy boost.

https://www.kanakkupillai.com/online-gst-registration

#gst #gst registration #gst rates #gst filing

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rudrjobdesk · 2 years

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GST पर सरकार का बयान, इन सभी प्रोडक्ट्स पर 28% का टैक्स, जानें फ्यूल को लेकर क्या है योजना?

माल एवं सेवा कर यानी जीएसटी (GST) को लेकर सरकार की तरह से अहम जानकारी दी गई है। रेवेन्यू सेक्रेटरी तरुण बजाज ने सोमवार को कहा कि सरकार की विलासिता या लग्जरी वाले प्रोडक्ट्स पर 28 प्रतिशत की जीएसटी दर को ही कायम रखने की मंशा है। वहीं, टैक्स की तीन अन्य कैटेगरी को दो कैटेगरी में बदलने पर चर्चा की जा सकती है। बजाज ने क्या कहा? बजाज ने यहां उद्योग मंडल एसोचैम के एक कार्यक्रम में कहा कि जीएसटी की…

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viralbake · 2 years

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The GST council of India decided to impose GST on certain new items and elevate the existing cess rates on a few goods and services in its 47th meeting held in Chandigarh on Wednesday.

#revision of gst rates #GST Rates

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financialgalaxy · 2 years

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crookedpersonaduck · 2 years

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GST GUIDELINE

Is your are not doing a GST Mistake

https://taxrupees.com/goods-and-services-tax-gst-services

#gst rates #gst compensation #personal taxes #legal #legal services #post #share #gstupdates #gst registration #ca #cs #cma #taxation #sharedlinks

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fazcinatingblog · 1 year

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i've always said that daisy would make a great dentist

#dale thomas #bless #he needs to open his own dental clinic #he stops by bunnings and purchases a drill 'yeah i'm becoming a dentist!!!'#munching on a sausage while twirling the drill around in his hands #he's got all the tools: superglue and a drill and some spirit level to keep the ghosts away #he'll fix any problem #YES I'M DOING AN ADVERTISEMENT FOR DAISY'S DENTAL CLINIC SHUT UP #now he'll fix any problem (he's a fixer)#he'll rip out your dead tooth with his bear hands #he'll fill any hole (in your teeth) (but also other holes if you ask politely)#he's got his trusty assistant Alex Fasolo filling your mouth up with water until you choke and die #he'll do a full search of your clothes for candy when you enter and then give the candy to his son Cody #he'll do your dental work for the low low price of $99.95 (plus GST)#per tooth #actually that's still really cheap #$1999.95 plus GST per tooth YES THAT'S MORE LIKE A NORMAL DENTIST'S RATE #all proceeds go to carlton to help them lure their next midfielder

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sundaethinker · 1 year

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Electric Accumulators - GST Rates and HSN Code (8507) for Indian Businesses and Startups

Electric accumulators are an essential component of many electrical devices, including electric vehicles, solar power systems, and home energy storage systems. As an Indian business owner or startup founder, it is crucial to understand the GST rates and HSN code for electric accumulators to ensure that you remain compliant with the law.

To read more: Electric Accumulators

To read more: Swipe blogs

#GST #GST Rates #Swipe

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swamyworld · 7 days

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Adopted pro-poor approach in implementing GST, kept tax rates low on essential commodities - Finance Minister

New Delhi. Finance Minister Nirmala Sitharaman said on Monday that the government has announced the Goods and Services Tax. (GST) Adopted a ‘pro-poor stance’ while implementing GST and despite lower tax rates, revenues as a percentage of gross domestic product (GDP) have reached pre-GST levels. Sitharaman wrote on the social media platform ‘X’ that the combined revenue of the states from the…

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#Adopted #approach #business news #business news in hindi #commodities #essential #finance #FM nirmala Sitharaman on gst #Goods and Service tax #GST #GST news #implementing #Minister #propoor #rates #tax #Tax rates in GST #what is GST

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jrcompliance1 · 28 days

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#Gst Input Tax Credit Example #Refund of Service Tax Input Credit #What is Service Tax Input Credit #itc #GST Input Tax Credit #Input Tax Credit #Input Tax Credit under GST #itc in gst #input tax credit rate #what is input tax credit #input tax credit meaning eligible and ineligible #input tax credit claim #Share

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incorpglobalsstuff · 2 months

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Unlock Business Opportunities in Singapore with a Dependent Pass | InCorp Global

Discover how to expand your business horizons in Singapore by securing a Dependent Pass through InCorp Global. Our expert team provides comprehensive guidance on obtaining this vital visa, enabling you to tap into the city-state's thriving economy while maintaining family ties. Explore the benefits and requirements of Dependent Pass in Singapore, and embark on your journey towards business success in Singapore today.

#dependent pass singapore #business license singapore #gst refund singapore #long term pass singapore #psg grant #singapore pr benefits #company tax rate singapore

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efiletax · 2 months

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GST Rate and SAC Code for Architects and Engineers

GST Rate for Architects and Engineers:

The GST rate for services provided by architects and engineers in India is 18%. This rate is applicable to the total value of the services rendered, including any service charges, consultancy fees, or other related expenses.

SAC Code for Architectural and Engineering Services:

The SAC (Services Accounting Code) for architectural and engineering services is 998331. This SAC code covers a wide range of services provided by architects, engineers, and related professionals, including:

Architectural design services

Structural engineering services

Civil engineering services

Interior design services

Landscape design services

Urban planning services

Project management consultancy

Feasibility studies and technical consultancy

It's essential for architects and engineers to correctly identify and use the SAC code 998331 when invoicing their services to ensure proper classification under GST. This helps in accurate tax calculation and compliance with GST regulations.

GST Compliance for Architects and Engineers:

Architects and engineers providing services in India are required to comply with GST regulations, including registration, invoicing, payment of taxes, and filing of GST returns. Key compliance requirements include:

GST Registration: Architects and engineers whose aggregate turnover exceeds the threshold limit prescribed by GST law must register for GST.

Invoicing: Proper GST-compliant invoices must be issued for services rendered, including details such as the SAC code, GSTIN of the service provider and recipient, service description, service value, and applicable GST rate.

Payment of Taxes: GST collected on services must be deposited with the government within the specified timelines.

Filing of GST Returns: Regular filing of GST returns, including GSTR-1 (for outward supplies) and GSTR-3B (summary return), is mandatory for architects and engineers.

By adhering to GST compliance requirements and accurately applying the applicable GST rate and SAC code, architects and engineers can ensure smooth operations and avoid any penalties or legal issues related to tax non-compliance. It's advisable to seek guidance from tax professionals or consultants for any specific queries or complexities related to GST compliance in the architectural and engineering sector.

#efiletax #SAC Code #gst #GST Rate #Architects and Engineers #taxi service #businesstax

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sauravsharma3489 · 3 months

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It takes a lot of study to purchase your ideal home, including investigating the area, climate, interior design, and accessibility. While often disregarded, the financial component of purchasing real estate is equally crucial. Numerous modest and large payments might make a considerable difference in the property's price. The terms "Registration Charges," "Stamp Duty," "Loan Processing Charges," "Technical Appraisal Charges," "Franking Charges," and so forth may have been mentioned during discussions with the seller. In order to prevent defaults and guarantee a seamless home-buying experience, it is critical to comprehend the meaning of these costs.

Franking Charges: What Is It?

Stamp duty is a levy that you must pay to the government in order for the acquisition of real estate to be approved. The franking charge is an additional stamp duty-related expense that most purchasers are unaware of. Stamp duty and franking costs are sometimes mistaken for one another. These two charges are typically charged concurrently, which is the main cause of this misconception. They are distinct charges, though, and we will talk about both the meaning of franking and the meaning of franking charges in this article.

Franking: What Is It?

Franking is only the act of franking an agreement. It is a seal that certifies that stamp duty has been paid. Thus, the process of having property documents stamped is called "franking."

Authorized organizations, including banks, offer franking services. We can enlist the assistance of these organizations to place a stamp or a denomination on the document in order to demonstrate its legitimacy.

Sub-registrar offices throughout various Indian states have Franking machines installed in order to complete the Franking process.

Advantages of Franking

The use of franking machines as opposed to stamps has various advantages. Among them are:

Lower Postage Costs: Since you only need to buy postage once, as opposed to for each letter or package, franked mail is less expensive to send than stamped mail. Convenience: You may quickly and easily prepare your mail for dispatch with a franking machine, saving you a trip to the post office. You save time and energy, which are sometimes very valuable resources!

Efficiency: A clean, reliable impression is always produced by a well-maintained franking machine. This facilitates the accurate identification and sorting of your mail by postal workers, ensuring that it gets to its destination as soon as possible.

Why was Franking invented?

Printing the agreement on non-judicial stamp sheets was the previous method of verifying the payment of stamp duty. The government had to put an end to this method since it resulted in stamp paper scams, abuse, and forgeries.

Bank Franking Procedure

Franking must be completed at this stage, prior to signing the paperwork, once all necessary information has been transcribed onto a blank sheet of paper. To approach the relevant body, you or the vendor must fill out an application with the franking details.

Not every bank is permitted to accept stamp duty. Even yet, the authorized institutions will be limited to a specific daily volume and will only be able to open a particular amount of documents each day. It is crucial that you get in contact with the bank early in the day or through a designated representative. It is advised to schedule a prior appointment with the relevant official, as franking necessitates advance planning on the part of the authorities.

The bank that you are using to obtain the home loan will give you the precise information and representatives about particulars.

Charges

The authority franking your documents, such as banks and agencies, must be compensated. State governments set the amount, which differs from state to state. Regardless of the value of the property, some states have a flat cost. Nonetheless, the majority of states charge a fee equal to 0.1% of the loan amount or the entire sale price of the property. Due to the strong correlation between franking charges and stamp duty, franking charges are typically subtracted from stamp duty, and stamp duty is amended to incorporate them.

The Indian states' corresponding franking charges are as follows:

Maharashtra's Franking Charges: 0.1%

In Telangana, fucking charges are 0.1%

For instance, there will be an additional Rs. 8,000 in fees associated with franking charges if you are purchasing a house valued at Rs. 80 lakh. Now, if the franking charge has been paid, you will only be required to pay 5.4% of the property value as stamp duty if the stamp duty in your state is 5.5% of the value. This change won't be performed if you choose to pay stamp duty using a different method. (The stamp duty rates are subject to change and vary across states; the figures shown are only examples.)

Remember that most home loans do not cover stamp duty or franking costs, so be ready for this and keep it in mind when choosing a home loan vendor.

Document Franking

Printing the agreement on plain white paper is necessary when franking a document. You must take the agreement and the supporting documentation to a franking agency or an authorized bank before they are executed or signed. There, they will offer you an application form, you will pay the stamp duty charge, and a stamp will be applied to the document to indicate the amount of stamp duty paid.

How to Calculate Franking Charges

States have different franking fees. The franking costs in Telangana and Maharashtra differ as a result. Usually, it represents 0.1% of the purchase price. For example, the franking charge on a house purchased for Rs. 40 lakhs would be Rs. 4,000. Remember that the franking stamp fee is part of the stamp duty duties as well. Therefore, if the appropriate stamp duty in your state is 6.5 percent, you would have to pay 6.4 percent to the sub-office registrars and the remaining amount to the franking authority.

#Franking Charges #Franking Charges and its advantages #What is franking cost?#What is the meaning of franking?#How do you calculate franking charges?#What is the limit for franking?#Who pay franking charges?#What is a 100% franking rate?#Why is it called franking?#What are the franking rules?#How does franking work?#Why is franking needed?#Is GST applicable on franking charges?#Is franking and stamp paper same?#Real Estate

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