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| AUGUST 2022 (Week 2) | ||
GST NEWS BULLETIN
No GST on services provided by the educational institution for conducting entrance examination
CBIC has clarified vide Circular no. 177/09/2022-TRU dated 03.08.2022, that the following educational services supplied by educational institutions to its students are exempt from GST:
Ice-cream parlors will attract a GST rate of 18% with effect from 06.10.2021
CBIC has clarified vide Circular No. 177/09/2022-TRU dated 03/08/22, that with effect from 06.10.2021, ice-cream parlors are required to pay GST@18% (with ITC).
No GST on forfeiture of salary or payment of bond amount in the event of the employee leaving the employment before the minimum agreed period
It has been clarified vide Circular No. 178/10/2022-GST dated 03.08.2022, that the salary forfeited, or the bond amount paid by the employee in the event of leaving of employment before the minimum agreed period, is not taxable as consideration for the service of agreeing to tolerate an act or a situation.
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