GST GUIDANCE

The following are latest updates regarding CIRCULARS RELATED TO COMPENSATION CESS. 1. Circular No. 1/2017 - Compensation Cess, Dated 26.07.2017 vide F.No. 354/136/2017 -TRU

As per clause 119 of Section 2 of CGST Act, 2017. “ Works Contract “ means a contract of building, construction, fabrication, completion, erection, installation, fitting out, improvement, modification, repair, maintenance, renovation, alteration or commissioning of any immovable property wherein transfer of property in goods (whether as goods or in some other form) is involved in execution of such contract.

GOODS AND SERVICES TAX (GST)  It replaces Central Excise Duty/ Additional Duties of Excise/ Excise Duty under MTPA/ CVD/ SAD/ Service Tax/ Surcharge & Cesses / VAT/ CST/ Purchase Tax/ Entertainment Tax/ Luxury Tax/ Entry Tax/ Taxes on Lottery.

The Central Board of Excise and Customs (CBEC), which is handling the main structure of GST has attempted to respond to 100 such questions in order to clear the people's doubts on GST.

Nowadays Travel Agency Service is very common and will be available in every city or even in small towns and also will be easily visible in the websites with discounts and all. Generally those who are in this business clubs together with other services like tour operator, Rent-A-Cab Service, Hotel Booking, Visa Processing Service, Foreign Exchange Service etc. So, in the following paragraphs various issues related to this Service will be dealt and will be continuously updated as soon as the Board of Central Goods and Services Tax, New Delhi updated. Definition :- Any person engaged in providing any service related to the booking of travel by air domestically or Internationally. SAC Code (Service Accounting Code) : 1.     Reservation Services for Transportation : 998551 2.     Reservation Services for accommodation, Cruises and Package tours : 998552 3.     Reservation Services for Convention Centres, Congress Centres a...

HSN Code means "Harmonized System of Nomenclature" is a multipurpose International Product code or nomenclature developed by the WCO (World Customs Organisation) and which is internationaly used by more than 200 Countries across the Globe. To get the proper HSN code while applying for GST CLICK HERE And to get SAC code for Services under GST CLICK HERE.

As per the new regime of GST, SAC (Service Accounting Code) numbers had been issued for different services with 6 (six) digit number. To get the list of SAC for various services classified   CLICK HERE .  OR https://drive.google.com/open? id=0B3FyGtsOov6ycUU5MHZCRENXZEU