TAX TALK – `Those who had postponed their property purchase decision will buy now…’

TAX TALK – `Those who had postponed their property purchase decision will buy now…’

The GST system takes off tomorrow. Prospective homebuyers are expected to make a move now with the uncertainty cleared. Property investors too will benefit with the threshold limit for applicability of GST on rentals being raised to Rs 20 lakhs from Rs 10 lakhs. Anil Rego, an investment consultant, explains what GST entails for consumers and homebuyers.   What does GST mean for consumers? The Goods and Services Tax (GST) is one the most significant tax reforms for India.The GST Council has finalised the fitment of over 1,200 goods and…

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The GST Basics – Top Four FAQ’s

The GST Basics – Top Four FAQ’s

The Goods and Services tax has been making headlines ever since its proposition was discussed some years ago. Now, to be right, the seeds for GST were sowed in the year 2003 when the Kelkar task force proposed a comprehensive Goods and Services Tax is one unified tax the consumer will pay for goods and services instead of multiple taxes.  Here is a list of FAQ’s that fumble with your minds every time we hear the word ‘GST’! 1.What’s the GST all about? The Goods and Services tax is the…

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GST: How it impacts the common man

GST: How it impacts the common man

GST Bill passed yesterday is a historic piece of legislation which promises to unify the tax system for the nation and increase the GDP by 2 per cent.   With the Rajya Sabha passing the long-awaited Goods and Services Tax (GST) Bill, country’s most transformative tax reform in decades is likely to affect the common man in numerous ways. What GST means to you? After being unanimously passed, the historic legislation promises to unify the tax system for the nation and increase the GDP by 2 per cent. So while services…

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