Table of Contents
Is GST rate different for different states?
SGST will also be levied on the same Intra State supply but will be governed by the State Government. However, it is clearly mentioned in Section 8 of the GST Act that the taxes be levied on all Intra-State supplies of goods and/or services but the rate of tax shall not be exceeding 14\%, each.
Is GST applicable in all states?
All states and Union Territories, barring Jammu and Kashmir, have passed their State GST Act, paving the way for rollout of the Goods and Services Tax from the mid-night of June 30-July 1.
Does SGST go directly to state?
Since it is a sale within a state, CGST and SGST will be levied. The collection goes to the Central Government and the State Government as pointed out in the diagram. IGST goes to the central government.
How will be GST apply for goods delivered in same state but billing address in another state?
Since as per current situation, billing address is of different state, hence IGST shall be charged on the invoice. However, since the final consumption is in the state other than the state of billing address, therefore, the “billed to” person shall raise an invoice in the name and GSTIN of “deliver to” person.
What are the different rates of GST?
The GST council has fitted over 1300 goods and 500 services under four tax slabs of 5\%, 12\%, 18\% and 28\% under GST. This is aside the tax on gold that is kept at 3\% and rough precious and semi-precious stones that are placed at a special rate of 0.25\% under GST. 7\% goods and services fall under this category.
Can you use GST number for multiple states?
Normally, a person obtains only one GST registration in a state or UT if his business is restricted to only that state/UT. But, if he operates in two or more states/UTs, he is liable for GST registration in each of those states/UTs.
In which state GST is not applicable?
With Kerala passing an ordinance to approve SGST, all states and union territories (with an Assembly) have now passed the state GST Act, except J&K. It is is the only Indian state where the GST is still in contention.
What percentage of GST goes to state?
| State | Growth | |
|---|---|---|
| 25 | Daman and Diu | -97\% |
| 26 | Dadra and Nagar Haveli | 71\% |
| 27 | Maharashtra | 14\% |
| 29 | Karnataka | 11\% |
How GST is different from the previous tax system in India?
Under GST, all the central and state taxes will be subsumed and a single tax will be levied on all commodities and services apart from motor spirit, petroleum, natural gas and high-speed diesel. Under VAT, tax will be levied at the place where goods are manufactured or sold, or the place at which services are rendered.
Can bill to and ship to be different state?
bills to Monu Ltd., and ships the goods to Natu Ltd. Thus, if supplier and final recipient are in different States, the supply will be inter-state even if goods are delivered in the same State on direction of final customer (third party).
How will the GST be charged for intra state supply and billing in another state?
If the supply is intra-state supply, tax shall be paid as CGST+SGST and if the Supply is inter-state supply, tax shall be paid as IGST. The only remedy available with the person is to pay the tax in correct account and get refund the tax which had been paid in wrong account.
What are the different tax rates under GST?
Under the GST regime, there will be a uniform tax rate across all the states. Government has given four rates bracket of 5 , 12, 18, 28 . There would be an HSN codes for goods and SAC code for service which would be prescribed that what products and services would fall under which tax rate bracket.
What is the GST rate for healthcare services?
GST rates on services comprising of 5\%, 12\%, 18\% and 28\% comes with various pros and cons for the consumers. However, government has exempted healthcare and educational services from the purview of the GST.
What is the GST on sale to another state?
If the sale is to a consumer in another STATE, then that balance its to be filled in the column of IGST ( Integrated GST ) and paid to the STATE GOV’T. STATE GOVERNMENT to STATE GOVERNMENT will reconcile the balance payable between them regularly.
What is the meaning of intra state in GST?
At ease, INTRA state – within the state, INTER state – Outside the state. GST is a destination-based tax and hence, it is necessary to understand the type of transaction to levy such tax. Let’s not go into technical things, we will take a look at the abstract.