Quick Answer: What Is The GST On AC?

How much is dry fruit GST?

GST Rate & HSN Code for Fruits & Dry Fruits – Chapter 8HSN CodeDescriptionRate (%)0813Tamarind, dried50813Fruit, dried, other than that of headings 0801 to 0806; mixtures of nuts or dried fruits of Chapter 8 [other than dried tamarind and dried chestnut(singhada) whether or not shelled or pelled]1225 more rows.

Will GST on phones decrease?

Mobile phones will attract an 18% goods and services tax (GST) rate from April 1, 2020, up from existing 12%, after the GST Council corrected the inverted duty structure that was being faced by the industry. … “Mobile phones and specified parts to attract 18% versus 12%.

Is GST applicable on grocery?

India’s biggest tax reform since Independence, the Goods and Services Tax (GST), rolled out past midnight on Friday in the Central Hall of Parliament has ushered in a new tax regime….TimesPoints.Essential food itemsItemEdible oilPrice/unit before GSTRs 125/litreTotal taxes (% on pre-tax price)16.82GST rate189 more columns•Jul 1, 2017

What is new GST rule?

Sources said the rule applies only to about 45,000 taxpayers out of the GST taxpayer base of 1.2 crore and genuine dealers and businesses would not be impacted. The new rule, they said, has been brought to check use of fake invoices to claim credit for tax paid on non-existent or highly inflated input cost.

What is current GST rate in India?

The GST rate in India for various goods and services is divided under 4 slabs; these are 5% GST, 12% GST, 18% GST, and 28% GST. However, there are some products that do not carry any GST rate.

What is the GST rate for AC restaurant?

5%5% GST on food services provided by restaurants (both air-conditioned and non a/c). 5% GST on restaurant services including room service and takeaway provided by restaurants located within a hotel featuring room tariff less than Rs. 7,500.

What are the 3 types of GST?

Know about the types of GST in IndiaHighlights.CGST, SGST and IGST are the 3 types of GST in India.CGST and SGST are levied on intra-state transactions.CGST is collected by the centre and SGST by the state.IGST is charged on inter-state goods/services transactions.

Which expenses are not allowed in GST?

Cases when ITC is not available under GSTMotor vehicles & conveyances.Food, beverages, club memberships and others.Services of general insurance, servicing, repair and maintenance.Sale of membership in a club, health, fitness centre.Rent-a-cab, life insurance, health insurance.Travel.Works contract.More items…•

Is ITC available on air conditioner?

Yes, ITC of an air conditioner is available. …

What is the GST on air conditioner?

28%Refrigerators, washing machines and microwave ovens come under the 18% GST slab while air-conditioner is the only appliance which is in the 28% tax segment.

Can I claim GST on air conditioner?

ITC on purchase of air conditioner is not restricted u/s 17(5), therefore input tax credit can be availed.

What are ineligible ITC?

ITC used for business purposes will be declared as eligible ITC and those used for other purposes will not be able to claim as ITC except blocked credit, which are specifically provided separately. The ITC eligibility is based on whether the same is used for taxable supplies or exempt supplies.

What is current GST rate?

GST Rate revision in 37th GST council meetingItemOld RateNew RateOther Job work18%12%Hotels (Room Tariff of Rs.7501 or above)28%18%Hotels (Room Tariff from Rs 1,001 to Rs 7,500)18%12%Woven/ Non-woven Polyethylene Packaging bags18%12%12 more rows•Sep 29, 2020

What kind of tax is GST called as?

Goods and Services Tax1. What is GST in India? GST is known as the Goods and Services Tax. It is an indirect tax which has replaced many indirect taxes in India such as the excise duty, VAT, services tax, etc.

How is GST calculated?

GST calculation can be explained by 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.