Which postal service is taxable under GST?

Which postal service is taxable under GST?

Premium postal services and life insurance provided by the post office will attract 12% service tax. Basic postal services, money orders, savings accounts, pension payments, etc remain exempt. After holding back for several years, the government has finally decided to subject upper class rail travel to service tax.01-Jul-2012

Is GST applicable on postage and courier charges?

Courier services classified under SAC Code 996812 will be taxable at 18% GST.

Is there GST on speed post?

1. “GST rate for Speed Post, Express Parcel Post and Agency Services (WUMT) is at the rate of 18% with effect from 1st July 2017.02-Feb-2022

How is GST calculated on courier services?

If the transportation cost is included, then GST has to be charged at the same rate of tax charged on supply. For example, if the goods being supplied is charged at 18%, then you have to charge tax on transport cost also at 18%.12-Jan-2022

Which services provided by Department of Posts are exempt from GST?

GST Exemption List – For Services

• Services by the Department of Posts by way of speed post, express parcel post, life insurance, and agency services provided to a person other than Government;
• Services in relation to an aircraft or a vessel, inside or outside the precincts of a port or an airport;

Which is exempted from GST?

Exempted goods under GST Non-GST goods include fish, egg, fresh milk, etc. Grapes, melons, ginger, garlic, unroasted coffee beans, green tea leaves that are not processed, and more. Food items that are not put into branded containers like rice, hulled cereal grains, wheat, corn, etc. Components like human blood.

Is courier service exempt from GST?

Courier services includes transportation, collection and delivery services. This includes letters , parcels etc movement form one or model of transportation. However GST on Postal services is excluded. GST on courier services is applicable as it falls under the definition of Supply.

How do I add courier charges to GST invoice?

How To Add Transport Charges in GST Invoice TallyPrime

• Enter gateway of TallyPrime.
• Select Company.
• Under Masters, Create ledger,
• Click Yes to save the new ledger created.
• Visit back gateway of TallyPrime and now select the Accounting Voucher tile.

What is the GST on service charge?

A restaurant bill comprises the cost of food items (usually mentioned on the menu), service charge, and a 5% GST on food services including takeaway facility. The GST is 18% if a restaurant is located inside a hotel wherein the room rate is upwards of ₹7,500.03-Jun-2022

On what amount is GST charged?

The different slabs for GST are 5%, 12%, 18% and 28%. GST calculation can be explained by a simple illustration : If a goods or services is sold at Rs. 1,000 and the GST rate applicable is 18%, then the net price calculated will be = 1,000+ (1,000X(18/100)) = 1,000+180 = Rs.01-Aug-2022

Where is GST not applicable?

Exports and Supplies made to SEZ or SEZ Developers, of both goods and services. Grains, salt, Jaggery, etc. Alcohol used for human consumption, Natural gas, Petrol and its products, electricity, etc. Services of a funeral and burial, certain actionable claims, etc.12-Jan-2022

Is IGST applicable on courier services?

Sale of Courier Services As per Notification No. 01/2019, IGST is applicable when such services are provided within or outside the state.

What is GST rate on packing charges?

GST Tax Rate: 12%

What are the three items exempted from GST?

GST exemptions for goods

Which of the following services provided by Department of Posts are exempt from GST Mcq?

Transportation of passengers by are exempt from GST.

Which service is not exempt under GST?

Difference between Nil Rated, Exempt, Zero Rated and Non-GST supplies

Is GST applicable for government departments?

Services provided by Police or security agencies of Government to PSU/private business entities are not exempt from GST. Such services are taxable supplies and the recipients are required to pay the tax under reverse charge mechanism on the amount of consideration paid to Government for such supply of services.

How do I save GST on services?

Thus, if you are looking to save the GST liability then give preference to Inter-State goods/products in the place of Intra State products.Variation in Investments.

Is GST charged on transportation?

All Transport services by road are exempt from GST except services from GTA and Courier agency. Anyone who provides consignment note for goods delivery will be treated as GTA. Mere Bill is not a consignment note. 5% GST rate is applicable for transportation service by GTA on RCM basis means GST is payable by recipient.16-Jul-2021

Is GST charged based on shipping or billing address?

GST is based on 'place of supply', meaning where is the goods being supplied. So in your case it will be CGST SGST. 1) Where the supply involves a movement of goods, the place of supply shall be determined by the location of the goods at the time of final delivery.

Who has to pay GST on freight?

GST will have to be paid by the service recipient based on reverse charge in the event of the listed persons in the following table when GTA performs the freight service. 3.11-Nov-2021

Which postal service is taxable under GST?