Which services are exempt under GST?
Exempt services include cultivation, harvesting, supply of farm labor, fumigation, packaging, renting or leasing of machinery for agricultural purposes, warehouse activities, and services by an Agricultural Produce Marketing Committee or Board that is provided by an agent for the sale or purchase of agricultural 11-Nov-2021
Are services provided by Charitable Trust exempt from GST? No, only charitable activities as defined above provided by a charitable trust or NGOs having 12AA registration is exempt from GST. Any other service provided by a Trust for consideration would be liable for tax under GST.
Who pays GST to the government?
2) Who is liable to pay GST? In general the supplier of goods or service is liable to pay GST. However in specified cases like imports and other notified supplies, the liability may be cast on the recipient under the reverse charge mechanism.
Services provided by Government, a local authority or a governmental authority by way of any activity in relation to any function entrusted to a Panchayat under Article 243G of the Constitution have been exempted from service tax.14-Apr-2016
When should I charge GST on services?
When Should I charge GST? If you are registered for GST and you sell products that are not GST exempt then you must charge GST. However, you only need to charge GST on non-exempt products. If you are not registered for GST, as you are under the $75,000 threshold, you do not have to charge GST.07-Aug-2019
GST exemptions for goods
Is GST applicable for services provided to charitable trust?
Services provided to charitable trusts are not out of ambit of GST. All services other than those specifically exempted provided to charitable trusts will be subject to GST. There is no exemption for supply of goods by charitable trusts.
business of the donor, such donation will be subject to GST. But if donation is received without such instructions or without a quid pro quo in the form of supply of any goods or services by the trust to the donor, it shall not be subject to GST.
Is there GST on grants received?
The financial assistance is not a payment for any supply and therefore the grantees do not have to pay GST on the cash payment received.09-Dec-2020
100% EXEMPTION AS PER NOTIFICATION NO. 25/2012- SERVICE TAX DATED 20.06. 2012
Which of the following service is not taxable?
Contraceptives, semen, human blood, vaccines, organic manure, earthen pots, beehives, live animals (except horses), maps, books, journals, newspapers, non-judicial stamps, kites, and pooja props.29-Nov-2019
All service providers in India are required to obtain service tax registration once the annual aggregate taxable services revenue exceeds Rs. 9 lakhs. Service tax payment or liability accrues once the aggregate value exceeds Rs. 10 lakhs.
What is not included in GST?
Items that are exempted from GST are live fish, fresh fish, bird's eggs in the shell, fresh milk, fresh ginger, garlic, grapes, melon, unroasted coffee beans, unprocessed green tea leaves, etc. Corn, rice, wheat, maize, soybean, hulled cereal grains, etc.21-Apr-2020
Charging GST on your invoices GST Commandment No 1 - You cannot charge GST if you are not registered. GST Commandment No 2 - If you are registered for GST then you must charge GST. There are exceptions to Commandment No 2 - such as a sale to an overseas customer and if you are unsure please ask your advisor.30-Oct-2020
How can I avoid paying GST?
There are sneaky but clever ways to avoid the “Welcome Back! Pay Your GST Now!” trap once you come back from your overseas holiday.
Yes, all small businesses register for GST, as it is mandatory for them to do so under the GST Act. You must definitely consider getting a GST for small business if you are a goods manufacturer with an annual turnover of over Rs. 40 Lakhs.
Are government grants taxable?
Any government grant or government scrapping payment received or accrued under a programme or scheme which has been approved under the national annual budget process and identified by the Minister in the Gazette, is exempt from normal tax.
Service Tax Registration Rules Every individual liable to pay service tax should register through Form ST-1 within 30 days from the date on which service tax was levied. If an assessee is providing more than one taxable service, they can mention all the taxable services provided by them in a single application.
What happens if service tax is not collected?
If an assessee has not filed his or her service tax return, then a late payment fee of Rs 500 will be charged for the initial 15 days of delay. If an assessee has not filed his or her service tax return, then a late payment fee of Rs 1,000 will be charged for delays ranging from 15 to 30 days.
A Small service provider whose value of taxable service from one or more premises did not exceeds Rs. 10 lakhs in previous financial year will be exempt from tax in next financial year upto first consecutive payment of Rs. 10 lakhs received.26-Apr-2016
Do I need to charge GST if I earn under 75000?
If your GST turnover is below the $75,000, registering for GST is optional. You may choose to register if your GST turnover is below the $75,000 threshold, however this means that once registered, regardless of your turnover, you must include GST in your fees and claim GST credits for your business purchases.
Which services are exempt under GST?