EFFECTIVE TAX RATE ON COMPLEX, BUILDING, FLAT ETC. 08 DEC 2018 It is brought to the notice of buyers of constructed property that there is no GST on sale of complex/ building and ready to move-in flats where sale takes place after issue of completion certificate by the competent authority. GST is applicable on sale of under const,ruction property or ready to move-in flats where completion certificate has not been issued at the time of sale. Effective rate of tax and credit available to the builders for payment of tax are summarized in the table for pre-GST and GST regime. Period Output Tax Rate Input Tax Credit details Effective Rate of Tax Pre- GST Service Tax: 4.5% VAT: 1% to 5% (composition scheme) Central Excise on most of the construction materials: 12.5% VAT: 12.5 to 14.5% Entry Tax: Yes No input tax credit (ITC) of VAT and Central Excise duty paid on inputs was available to the builder for payment of output tax, hence it got embedded in the value of properties....

Purchase of laptops/notebooks and similar devices for eligible officers -Clarification regarding admissibility of Taxes/GST on the price ceiling No. 03(13)/2018-E.II(A) Government of India Ministry of Finance Department of Expenditure North Block, New Delhi Dated: 22nd October, 2018 OFFICE MEMORANDUM Subject :  Instructions for the purchase of laptops/notebooks and similar devices for eligible officers – Clarification regarding admissibility of Taxes/GST on the price ceiling. The undersigned is directed to inform that references have been received in this Department seeking clarification regarding admissibility of Taxes/GST on the prescribed price ceiling of Rs. 80,000 as mentioned in Para 2(i) this Department’s O.M. No 08(34)/2017-E.II(A) dated 20th February, 2018 on the above subject. 2. The matter has been considered in this Department. Since taxes are statutory in nature and are bound to change from time to time, it is clarified that the price ceiling of Rs. 80,000...

CENTRAL GOVT. EMPLOYEES No. 19030/2/2017.E.IV Government of India Ministry of Finance Department of Expenditure New Delhi, the 29th June,2018 Office Memorandum Sub:   Reimbursement of Taxes/GST on the prescribed entitlement of Hotel accommodation/Guest House to Central Govt. employees – reg. Various references have been received in this Department seeking clarification regarding admissibility of Taxes/GST on the prescribed entitlement of Hotel accommodation/Guest House as mentioned in Para 2E(i) of the annexure to this Department’s OM No. 19030/1/2017-E.IV dated 13.07.2017. 2. The matter has been considered in this Department and it is clarified that the entitlement prescribed in r/o Hotel accommodation/Guest House as mentioned in Para 2E(i) of above mentioned 0M, is exclusive of all Taxes/GST and these Taxes/GST shall be reimbursed to the Govt. employee over and above the prescribed entitlement. Further, reimbursement of GST shall be calculated on the actual charg...

Ministry of Finance GST Revenue Collections for the Financial Year 2017-18 Total Revenue of Rs. 7.19 lakh crore collected under GST in the period between August 2017 and March 2018 27 APR 2018 During 2017-18, total revenue collected under GST in the period between August 2017 and March 2018 has been Rs. 7.19 lakh crore. This includes Rs. 1.19 lakh crore of CGST, Rs. 1.72 lakh crore of SGST, Rs. 3.66 lakh crore of IGST (including Rs. 1.73 lakh crore on imports) and Rs. 62,021 crore of cess (including Rs. 5702 crore on imports). For this eight months, the average monthly collection has been Rs. 89,885 crore. While the tax on domestic supplies in a month is collected through the process of returns and gets collected in the next month, IGST and cess on imports gets collected in the same month. Therefore, during the current year, GST on domestic supplies has been collected only in eight months from August 2017 to March 2018, IGST and cess on imports has been collected for nine mo...

5% GST to Train Food and Drinks Ministry of Finance 5% Uniform rate of GST to apply in all railway catering services in trains or on stations With a view to remove any doubt or uncertainty in the matter and bring uniformity in the rate of GST applicable to supply of food and drinks made available in trains, platforms or stations, it has been clarified with the approval of the competent authority that the GST rate on supply of food and drinks by the Indian Railways or Indian Railways Catering and Tourism Corporation Ltd. or their licensees, whether in trains or at platforms (static units), will be 5% without input tax credit. The copy of letter F.No. 354/03/2018-TRU dated 31.03.2018 (Order No. 2/2018 – GST) issued to the Railway Board is available atwww.cbec.gov.in .

Applicability of Goods and Service tax (GST) on Static Catering Services on IR GOVERNMENT OF INDIA MINISTRY OF RAILWAYS (RAILWAY BOARD) No. 2012/TG.III/631/2 New Delhi Dated 01.12.2017 The General Managers All Indian Railways The CMD/IRCTC New Delhi CMD/KRCL, Navi Mumbai (Commercial Circular No. 79 of 2017) Sub: Applicability of Goods and Service tax (GST) on Static Catering Services on IR. Ref: (i) Commercial Circular No. 78 of 2012 dated 21.12.2012 (ii) Commercial Circular No. 44 of 2017 dated 29.06.2017 (iii) Commercial Circular No. 48 of 2017 dated 30.06.2017 (iv) Board's letter No. 2016/AC-II/01/Misc./GST (RBS No. 164/20117) dtd 20.11.2017 (v) Board's letter no. 2017/TG-III/631/6 dated 18/09/2017. Ministry of Finance (Department of Revenue) vide notification No. 11/2017 - Central Tax(Rate) dated 28.06.2017 had issued GST Rate for supply of food and beverage services. Further, vide Notification no. 46/2017-Centrl Tax (Rate) dated 14.11.2017, the aforesaid notification has b...

Government to replace GST ordinance with bill The Cabinet today approved replacing the Goods and Service Tax (Compensation to States) Ordinance by a bill, sources said. The GST (Compensation to States) Act 2017 aims to provide for compensation to the states for the loss of revenue arising on account of implementation of Goods and Service Tax Act, they said. It provides for imposition of compensation cess on intra-state/ inter-state supplies of goods and services. The GST Council in its 20th meeting held in August had recommended an increase of 10 per cent to 25 per cent in the maximum rate on certain type of motor vehicles. The Ordinance was promulgated on September 2, thus raising the maximum rates. Article 123 of the Constitution mandates that the ordinance be approved by the Parliament within six weeks of reconvening. Accordingly, the sources added the finance ministry had sought Cabinet nod for the replacement of the ordinance by the Goods and Service Tax (Compensation to States) B...

7th Pay Commission: Will government raise minimum pay? The pay rise, the finance ministry says, should take place in January, and would mean a pay rise for 4.8 million central government employees and 5.5 million pensioners. If the government decides to implement the rise, which it may do after the completion of Gujarat and Himachal Pradesh assemblies poll process, it would be the second successive pay hike, and would bring the real value of the minimum pay back in line. A top Finance Ministry official, who did not wish to be named, indicated the government will be taking the proposal seriously, but cannot implement the pay rise now, it will be decided after the Gujarat and Himachal Pradesh assemblies elections. This would represent minimum pay rise of Rs 21,000 for central government employees. If this recommendation were accepted, the value of the minimum pay would be higher than the recommendations of the 7th Pay Commission of Rs 18,000 and the government is now making good progress...