Vendredi, 23 Octobre 2020
Dernières nouvelles
Principale » Rental income beyond Rs. 20 lakh to attract GST

Rental income beyond Rs. 20 lakh to attract GST

12 Juillet 2017

Am I being overcharged on my total bill? It has been reiterated by the CBEC that GST can not be charged at 28% by any restaurant.

Service tax: This was the tax charged on the services of the restaurant.

VAT: This is the tax on the food consumed. The number of rates had to do with several states fearing that GST rollout could create social tensions because it would make a lot of so-called luxury goods cheaper while making some essential goods more expensive. What tax is levied on your order - whether 12% or 18% - will depend on if it's an AC restaurant or a non-AC restaurant, and whether it has the license to serve alcohol.

Now, something to keep in mind here is that these GST rates include both CGST (Central GST) and SGST (State GST). Local delivery restaurants also fall under this slab. The details of other commodities exempted from GST are relief materials for victims of natural or manmade disasters, calamities, accidents or mishaps, defence or military equipment, newspaper or magazine registered with the registrar of newspapers, railway equipments or materials, agriculture produce, milk, salt and food grain including flours, pulses & rice and organic manure.

Chris Sale, Max Scherzer To Start All-Star Game
Both will be tasked with navigating powerhouse lineups, which also were unveiled Monday by managers Joe Maddon and Brad Mills. Scherzer, 32, is making his second All-Star start following an appearance in 2013 when he pitched a ideal inning.

Pre-packed food like namkin, cookies, etc, bought from restaurants will charge you 12 per cent GST.

Another clarification by the CBEC is that the restaurants under the Composition Scheme - with up to an aggregate turnover of Rs 75 lakh - will charge GST at the rate of 5%. These eateries are usually smaller ones. It is however subjected to Value-Added Tax as applied by the respective state government. While kumkum and bangles were made tax free, sanitary pads should also be similarly given exemption.

He said a memorandum had been submitted to B. Anand, GST Monitoring Officer and Joint Secretary, Ministry of Urban Development, who convened a meeting with officials from Central Excise and Commercial Tax departments and stakeholders of various manufacturing industries here recently.

A number of critics point out that the GST that Modi government has rolled out is a far cry from the original recommendations.

Rental income beyond Rs. 20 lakh to attract GST