Service Tax May Increase a Little According to GST

SERVICE TAX MAY INCREASE A LITTLE ACCORDING TO GST

Service Tax May Increase a Little According to GST

According to the Goods and Services Tax (GST), the new scale of service tax will be a little higher; while it was 15% (including Swatch Bharat Cess and Krishi Kalyan Cess) in the old taxation format, it will become 18% according to the new system. Agriculture, education and healthcare will remain out of the service tax discipline, as it was before.
According to the new system, service tax (or GST) will be payable in case of a turnover higher than 20lakhs per annum, while presently an income above 10lakhs is taxable. The exemption list has not been made final yet, says Hansmukh Adhia, the Revenue Secretary. In all possibilities, transport will remain in the lowest (5%) tax slab. Petrol and petroleum products will not be taxable under GST. The government has planned to bring GST into action from July 1; some industry shareholders have raised a cry for a little delay. The GST council will have a meet in Srinagar on May 18-19, to decide over the laws.

#GST #servicetax #Revenue_Secretary




Name:

Email:

Contact

Comment:

Comments

    BCCI takes a big decision, takes away full membership from Mumbai

    The BCCI's Committee of Administration (COA) formed by the Supreme Court took a firm decision. The committee has taken away the full membership of BCCI from Mumbai.

    This decision has Read More


    What's Rape?

    What's Rape? In accordance with the section 375 of IPC, a guy is said to commit rape when he does forceful sexual intercourse with a female against her will and without her consent. Read More


    Kejriwal has long tongue

    Chief minister Arvind Kejriwal might not be speak a while. He underwent a surgical treatment for persistent cough at Narayana fitness metropolis in Bommasandra, Bengaluru.

    According to Read More


    Live results UP - BJP set to win

    BJP is set to win Uttar Preadesh. The counting has started and we are getting the results. 

    Uttar Pradesh has 403 seats Majority Mark is 202

    BJP+ : Read More


    There should be an End to Vote Bank Politics

    Vote bank politics has remained one of the most discussed topics in Indian politics since independence. India is a land of diversity where there are people from a number of class, caste and Read More


    ISIS will fail in India

    Prime Minister Narendra Modi has said ISIS will struggle to recruit members in the world's second-most populous nation and he praised Indian Muslims for their commitment to fight for the Read More


    After Election, Modi can do major reforms

    The results of elections in five states have been much better than the estimates for BJP.  Stock market expects the government to accelerate its reform process. Government can accelerate Read More


    Kerala government may ban RSS activities in temple

    The government is seeking ban against RSS activities in temple. it can be major blow to RSS as many shakhas work in the temple vicinity. The government has proposed the ban under section 73 of the Read More


    Manohar Parrikar to become Goa CM

    Goa Governor Sinha asked BJP legislature party leader Manohar Parrikar on Sunday to prove his majority in the House. Parrikar had earlier claimed to form government. 

    Parrikar Read More


    Untimely Snowfall, Thunderstorm and Heavy Rainfall in Jammu and Srinagar

    After the political heat, now cold weather has created a threat for the people of Jammu and Srinagar. The weather in Jammu and Kashmir has taken a weird turn; the valley is seeing fresh snowfall, Read More