Thursday, July 5, 2018

ITC is available on raw materials used for supplies made under concessional rate of 5% GST: AAR

CGST : Concessional rate of tax @ 5% as given under Notification No. 47/2017-Integrated Tax(Rate) dated 14.11.2017 is applicable only for Interstate sales i.e., on IGST and concessional rate of tax @ 2.5% CGST + 2.5% SGST is applicable for Intrastate supplies as per Notification No. 45/2017-Central Tax (Rate) dated 14.11.2017

from www.taxmann.com Latest Case Laws https://ift.tt/2KztCEJ
-
Labels:

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)

AO can’t disallow cost of improvement merely relying on enquiries made with assessee’s neighbour: ITAT

INCOME TAX : Where assessee had purchased a flat and incurred expenditure of Rs. 23 lakhs for purpose of renovating house and Assessing Offi...