Tax applicability
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 May 2017
Sir,
In gst will there be any tax on labour charges for a small industry having annual income of about 20 to 25 lakh including both sale and labour charges? (Now the vat rate is 5% for sale bills and no tax on labour bill)
If yes then what will be the tax rate?
Thanks and Regards
In gst will there be any tax on labour charges for a small industry having annual income of about 20 to 25 lakh including both sale and labour charges? (Now the vat rate is 5% for sale bills and no tax on labour bill)
If yes then what will be the tax rate?
Thanks and Regards
Guest
Guest
(Expert)
23 May 2017
Labour charges will be considered as Supply of Services and accordingly GST will be liveid on it.Gst will be payable once your aggregate turnover exceeds Rs 20 lakh or 10 lakhs as the case may be.
To determine aggregate turnover kindly see my video
https://youtu.be/aDa2OZh2m7o
To determine aggregate turnover kindly see my video
https://youtu.be/aDa2OZh2m7o
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