GSTR 9C – Applicability, Due Date, Turnover Limit
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All products and services subject to GST in India are classified using an HSN code (Harmonized System of Nomenclature) and a SAC (Service Accounting Code), which aids in the removal of barriers to international commerce.
GST compensation surpassed 10% of these states' tax collections. According to the report, at least ten states, including Karnataka, Tamil Nadu, Maharashtra, Gujarat, and Uttarakhand, are anticipated to fall short of their budgeted 14% GST growth.
Want to know about the GST for restaurants? In this article, you will understand the applicability of GST on restaurant services in India, with its tax rates and how it affects the prices of food items. Keep on reading.
The Central Government revised Sections 37 and 39 of the Central Goods & Services Tax Act (CGST), 2017, with effect from October 1, 2022, by Notification No. 18/2022-Central Tax dated September 28, 2022.
The Council made it clear that the new GST return method would be phased out since it was no longer necessary. A proposal for extensive changes to GSTR-3B will be made available to the public for comment.
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