Any service provider that provides a total service value of more than Rs 20 lakh in a year, requires GST registration. Any business which is engaged in the supply of goods having a total turnover of more than Rs 40 lakh is also mandated to get GST registration. Apart from this, GST registration is necessary…
The main objective of any economy is development and trade plays an important role in achieving the objective of development. Imports are potential weapons for the development of an economy therefore, lawmakers had placed their specific sight on Imports. Considering the significance of Imports, various provisions of GST have been drafted in a way that…
Water is classified as an essential & supply of the same is exempt through notification no 2/2017- Central Tax Rate dated 28th June,2017. The relevant extract is as under: S. No. Heading Description of Goods Rate (%) Condition 99 2201 Water (Other than aerated, mineral, purified, distilled, medicinal, ionic, battery, de-mineralised and water sold in…
