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GST rate tussle over flavoured milk April 14, 2021 Authorities for Advance Rulings of Gujarat, TN and AP rule 12%, Karnataka goes for 5% Flavoured milk has found different flavours with different Authorities for Advance Rulings (AARs). While Gujarat AAR followed its counterparts in Tamil Nadu and Andhra Pradesh to hold GST at the rate of 12 per cent, the Karnataka AAR went for 5 per cent. Latest rulings from Gujarat are related with two famous milk product brands, Amul and Vadilal. Gujarat Co-Operative Milk Marketing Federation Ltd, owner of Amul brand, approached AAR to get ruling regardin...

Highlights Bix with turnover of more than Rs 5 cr. 6 digits HSN Code mandatory. New Delhi: The Ministry of Finance has said that GST taxpayer with turnover of more than Rs 5 crore will have to furnish six-digit HSN or tariff code on the invoices issued for supplies of taxable goods and services. The rule has been effective from April 1, 2021. "With effect from the 1st April, 2021, it has been made mandatory for a GST taxpayer, having turnover of more than Rs 5 crore in the preceding financial year, to furnish 6 digits HSN Code (Harmonised System of Nomenclature Code), or as the case may be, S...

GST taxpayers to now furnish six-digit HSN tariff code, check direct link here A taxpayer having turnover of upto Rs 5 crore in the preceding financial year is required to mandatorily furnish 4 digits HSN code on B2B invoices. File photo Updated: Apr 9, 2021, 07:36 PM IST A GST taxpayer with a turnover of more than Rs 5 crore will now have to provide a six-digit HSN tariff code on the invoices issued for supplies of taxable goods and services, the Ministry of Finance had said in a release. This new rule came into effect from April 1, 2021. "With effect from the 1...

Synopsis The Finance Ministry has said that businesses with a turnover of more than Rs 5 crore have to show a six digit HSN number. Getty Images HSN and SAC codes are used to classify goods and services under GST regime. The ministry of finance has announced that businesses with turnover of Rs 5 crore and above will have to furnish six-digit HSN or tariff code on the invoices issued for supplies of taxable goods and services from April 1. Those with turnover of up to Rs 5 crore in the preceding financial year would also be required to furnish four-digit HSN code on B2B invoices.

CBIC extends customs duty and integrated GST exemptions till March 31, 2022 SECTIONS Share Synopsis The Central Board of Indirect Taxes and Customs (CBIC) on Wednesday extended the basic customs duty and integrated goods and service tax exemptions for export-oriented units, by a year till March 31, 2022. Agencies The Central Board of Indirect Taxes and Customs (CBIC) Wednesday extended the basic customs duty and integrated goods and service tax exemptions for export oriented units, by a year till March 31, 2022. The Board also made it mandatory for a GST taxpayer having turnover of more tha...