30 June 2017
A new Goods and Service tax (GST) is to be introduced in India from 1 July 2017 with the Indian Government now having approved the rate structure for the majority of goods and services under this new tax regime.
Goods and services have been categorised under various GST ratings and these rates are 0% ('basic needs items'), 5%, 12%, 18% and 28% ('luxury items').
The Government has also approved rules covering registration, invoicing, input tax credit, refunds, valuation, payment and composition. Please use this link to view the Indian Central Board of Excise and Customs website which gives detailed information in regards to GST.
LATEST NEWS
Foreign providers liable to register and collect VAT...
During September 2024, the Federal Democratic Republic of Ethiopia introduced VAT on the sale of digital services by non-resident providers to local consumers...
SEE MORE
LATEST NEWS
Update: Foreign providers selling digital services B2C...
From 1 October 2024, the Peruvian tax authority will introduce VAT at 18% on the sale of digital services by non-resident providers to local consumers. Peru...
SEE MORE
LATEST NEWS
UK to launch public consultation on electronic...
During September the UK unveiled a package of reforms that includes launching a consultation on how HMRC can support the introduction of electronic invoicing...
SEE MORE