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How much maximum percentage tax can be applied on any goods under GST?

The GST council has kept 5 slab rates under GST which are 0%, 5%, 12%, 18% and 28%. Different products are kept in different slab rates depending on various factors. While items of daily use and importance are kept in lower tax brackets, most of the luxury items are kept in 28% tax bracket. So one might think that 28% is the highest rate that can be applied. But this is wrong, because on many products there will be levied a compensation cess which will be in addition to the 28% tax. Besides, while importing goods in India, importer will be required to pay Basic Customs Duty and IGST because BCD has not been subsumed under GST. Thus, imports will include BCD as well as IGST. And this, in my opinion will be the maximum tax that will be applied under GST. Hope this helps.
MRP (Max Retail Price) Rules Under GST
Sep. 14, 2017
We all know what MRP is. MRP (Maximum Retail Price) is the maximum amount of money that can be charged by a seller from a buyer. After the implementation of GST, prices of many products changed. Does this have an effect on the MRP rules also ?
How to check if your Aadhaar is still active or not?
Sep. 11, 2017
The Govt has recently reported that around 81 lakh Aadhaar numbers have been deactivated till date, by the UIDAI (Unique Identification Authority of India). There are various reasons for this deactivation of Aadhaar numbers. So, how to check the status of your Aadhaar number online? How to know if your Aadhaar status is Active or not?
Audits under GST
Jun. 02, 2017
All the provisions relating to GST are discussed here. Read on to fully understand what, when, who and how relating to Audit under Goods And Services Tax.
What will be the effect of GST bill on consumers?

Ideally, GST act ‘should’ benefit consumers. Since, Most of the consumer items are in low tax bracket Input tax credit will be available was was previously not available No double taxation It is expected to result in reduction of pries of certain goods, commodities and services which are of prime importance to consumers. But, nothing can be predicted as of now. Since, there remain a lot of issues to be resolved and not everyone is well versed with all the provisions, it is unlikely the expected benefits will trickle down just immediately. So. consumers should wait and be patient enough to let the system set in and not star judging the efficiency in the initial days. Something as mammoth as GST will surely take its time to start benefiting the society for whose benefit it is being implemented. Also, a lot depends upon the implementation and its successive strategies. Therefore, nothing can be predicted accurately as of now. We can just hope and pray that GST has only positive effects on the consumers.
GST rates for 66 items revised
Jun. 16, 2017
In what appears to be happy news for everyone, GST council headed by Shri Arun Jaitley in its latest meeting took some decisions which are largely in favor of the common public. Feeling happy much? There’s more in store for you.
Can I apply for GST to start selling on Flipkart?

Yes, and that too with immediate effects. The GST Act has been unfair with the online sellers. There is no option to opt the ‘Composition Scheme’ for online sellers, whereas the same has been provided to ofline sellers. Moreover, registration for online sellers is mandatory in nature. No matter what your turnover is, you have to compulsorily register under GST. And what’s sad is, e-commerce operators like Amazon and Flipkart are required to collect 2% TCS from the sellers from now on.This may induce increase of prices and reduction of sales. Though deliberations in this behalf are still on, but the current picture for online sellers seem gloomy.
How do we treat agricultural income while preparing income tax return ?
Jul. 26, 2017

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