GST Solution

22/06/2020

India-China border tension: PMO seeks product-wise details to curb China imports -

China accounts for about 14 per cent of India's imports and is a major supplier for sectors like cell phones, telecom, power, plastic toys and critical pharma ingredients.

21/07/2017

For reverse calculation of GST
For 28% its 21.875%
For 18% it's 15.25%
For 12% its 10.72%
For 5% it's 4.765%
For 3% it's 2.92%
For Retailers
Formula for reverse GST calculation on MRP
for
GST 5% = .95238 x MRP
GST 12% = .89286 x MRP
GST 18% = .84746 x MRP
GST 28% = .78125 x MRP
example MRP 112 GST 12%89286x112 = 100
Please cross check yourself.
FOR RETAILERS FORMULA FOR REVERSE GST CALCULATION ON MRP
GST--5% MRP ÷1.05
GST--12% MRP÷1.12
GST--18% MRP÷1.18
GST--28% MRP÷1.28
FOR EXAMPLE 18% CALCULATION MRP 3000
3000÷1.18=2542
9%=229
9%=229
G.TOTAL=3000

05/07/2017

Construction materials GST rate.
Cement-28%
Steel - 18%
River Sand - 5%
Crush Sand - 5%
Aggregate - 5%
Marble and Granite-12-28%
Stone-5%
Red Bricks-5%
Fly Ash Bricks- 12%
Cement Block - 18%
Glass - 28%
Shahabad - 5%
Tiles - 18-28%
Wire and Cable - 28%
Paint and Varnish - 28%
Sanatary Fittings - 28%
GI Fittings - 18%
CP Fittings - 18-28%(Depends on Base Material)
Wallpapers - 28%
Key Locks - 18%
Wooden Door and window - 28%
Aluminium Windows - 18-28%.

04/07/2017

02/07/2017

Credit availibility at every stage.

GST offers tax credit at every stage thereby taxing only value addition.

02/07/2017

GST is Value added Tax.

GST is Value added Tax on activity of supply of goods and / or services , irrespective of such activity being manufacture of goods, sales of goods (intra-state sale), provisioning of services or consumption of goods and services.

02/07/2017

France was the first country to implement GST in 1954. Within 62 years , about 160 countries has adopted GST.

30/06/2017

30/06/2017

12-4-2017 :- Central GST Legislation - CGST Bill,2017, IGST Bill,2017, UTGST Bill,2017, GST (Compensation to states ) Bill , 2017 received assent of president and Bills enacted.

30/06/2017

29-03-2016:- Central GST Legislation - CGST Bill,2017, IGST Bill,2017, UTGST Bill,2017, GST (Compensation to states ) Bill , 2017 Passed in Lok-Sabha