Supplier must pay ₹18,000 GST (original liability), despite issuing the credit note. Supplier sells goods to a retailer, charging ₹18,000 GST. Retailer sells goods to consumers, charging ₹21,600 GST ...

The decision to raise the Goods and Services Tax (GST) wasn't easy, but it had to be done, Prime Minister Lawrence Wong said ...

Much jubilation about income tax cut, but millions will fall out of the income tax net,” Ranade wrote, pointing out a potential contradiction between the government’s goal of widening the tax base and ...

The GST Council recently announced a significant change in the taxation of used cars, raising the Goods and Services Tax (GST) rate from 12% to 18% for vehicles sold by businesses. This move ...

Clarification on tax on used car sales Currently, all old and used automobiles, including EVs, are subject to 12% GST. Old and used petrol cars with engine capacity of 1200 cc or more and length ...

The Ex-showroom Price of a bike includes factory price and GST. Being a bike above 350cc, it attracts 31%GST. Ex-showroom price includes Factory price, GST, and dealer margin. Bajaj Dominar 400 is ...

The Gujarat assembly has unanimously passed two pivotal bills: one to amend the state's GST law in alignment with central ...

The CBIC confirms that GST is not applicable on penal charges by banks and NBFCs, clarifying the tax implications for regulated entities.