Schedule VI –0.25% (0.125% CGST and 0.125% SGST) S. No. Chapter / Heading / Sub-heading / Tariff item Description of Goods (1) (2) (3) 1. 7102 Diamonds, non-industrial unworked or simply sawn, cleaved or bruted 2. 7103 Precious stones (other than diamonds) and semi-precious stones, unworked or simply sawn or roughly shaped 3. 7104 … Read more
Schedule V – 3% (1.5% CGST and 1.5% SGST) S. No. Chapter / Heading / Sub-heading / Tariff item Description of Goods (1) (2) (3) 1. 7101 Pearls, natural or cultured, whether or not worked or graded but not S. No. Chapter / Heading / Sub-heading / Tariff item Description of Goods (1) … Read more
Schedule IV –28% (14% CGST and 14% SGST) S. No. Chapter / Heading / Sub- heading / Tariff item Description of Goods (1) (2) (3) 1. 1703 Molasses 2. 1704 Chewing gum / bubble gum and white chocolate, not containing cocoa 3. 1804 Cocoa butter, fat and oil 4. 1805 Cocoa powder, not containing added … Read more
Schedule III –18% (9% CGST and 9% SGST) S. No. Chapter / Heading / Sub- heading / Tariff item Description of Goods (1) (2) (3) 1. 0402 91 10, 0402 99 20 Condensed milk 2. 1107 Malt, whether or not roasted 3. 1302 Vegetable saps and extracts; pectic substances, pectinates and pectates; agar-agar and … Read more
Schedule II – 12% (6% CGST and 6% SGST) S. No. Chapter / Heading / Sub- heading / Tariff item Description of Goods (1) (2) (3) 1. 01012100, 010129 Live horses 2. 0202 Meat of bovine animals, frozen and put up in unit containers 3. 0203 Meat of swine, frozen and put up in unit … Read more
Schedule I – 5% (2.5% CGST and 2.5% SGST) S. No. Chapter / Heading / Sub-heading / Tariff item Description of Goods (1) (2) (3) 1. 0303 Fish, frozen, excluding fish fillets and other fish meat of heading 0304 2. 0304 Fish fillets and other fish meat (whether or not minced), frozen 3. 0305 … Read more
[TO BE PUBLISHED IN PART II, SECTION 3, SUB-SECTION (i) OF THE GAZETTE OF INDIA, EXTRAORDINARY] GOVERNMENT OF INDIA MINISTRY OF FINANCE (Department of Revenue) Notification No.1/2017-Central Tax (Rate) New Delhi, the 28th June, 2017 G.S.R. (E).- In exercise of the powers conferred by sub-section (1) of section 9 of the Central Goods and … Read more
INTRODUCTION MLI Convention aims to implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting. On 7th June, 2017, 70 Ministers and other high level representatives participated in the signing ceremony of MLI. This Convention is a product of Organisation for Economic Co-operation and Development (OECD)/G20 Project to fight BEPS[1] which envisages 15 … Read more
The Safe Harbour Rules (SHR) were amended by Notification No. 46/2017 dated 07-06-2017 issued by the Ministry of Finance, Central Board of Direct Taxes (CBDT). The term Safe Harbour is defined under section 92CB of the Income Tax Act, 1961 as circumstances under which the authorities shall accept transfer pricing declared by the assessee. It … Read more
As per Rule 1 of GST revised Rules, the tax invoice shall include – Name, address and GSTIN of the supplier; a consecutive serial number containing only alphabets and/or numerals, unique for a financial year; date of its issue; name, address and GSTIN/ Unique ID Number, if registered, of the recipient; name and address of … Read more