2017
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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At the 23rd GST council meeting, Detergents, chocolates, beauty products have been moved from 28 % tax rate to
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8 %
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18 %
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12 %
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5 %
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Explanation:
Detailed explanation-1: -licenses issued under the AYUSH scheme do not make them medicaments which attract 12 per cent GST and are still considered cosmetics that have to be levied with 18 per cent GST.
Detailed explanation-2: -GST rate on Soap, washing preparations, polishing items, lubricant preparations etc. are to be charged at 18% in India.
Detailed explanation-3: -Recently, the government decided to lower the e-invoice threshold limit to Rs. 10 Cr. i.e. businesses with an annual aggregate turnover of Rs. 10 Cr. or more in any financial year from 2017-18 onwards need to mandatorily start generating IRN from October 1, 2022 as per GST notification 17/2022.
There is 1 question to complete.