GST is an indirect tax imposed on the supply of goods and services in India. The GST has lowered the burden of many taxes and placed them under one roof, benefiting Indian consumers and companies...
NRI taxation services at Lex N Tax Associates, NRIs must pay tax in India on capital gains from shares, mutual funds, term deposits, and property rents if they exceed the basic exemption ceiling, despite the fact that income produced outside of India is not subject to Indian taxation
No Such Exemption of No GST for bill less than Rs One Thousand. If that happens everybody will generate thousands and lakhs of bills below one Thousand. That was the rumor which was floated across many people. But GST is applicable in any small bill also and no exemption is available..
No, there is no exemption for any transaction where value is less than Rs 1000. GST is not fixed on value of items or services, its slabs are fixed on type of items or service. Hand-loom items such as knitted caps priced below Rs 1000 will now attract a lower GST rate of 5 percent. All leather items will now attract a GST rate of 18 percent, while footwear priced below Rs 1000 will be taxed at 5 percent.
Hello Nagesh, There is no tax on services provide by a unregistered dealer or person whose annual turnover from all taxable services is up to 20 lakhs. 3 wheeler Auto taxi, Saloon, vegetable vendor, plumber, electrician, teacher or coach and like giving services are really tax free and not any other goods as they are subject to GST at the staring point and is included in the price component of the goods.