Impact of GST on Insurance and Banking

By |2021-12-04T07:43:05+00:00December 4th, 2021|Categories: GST|Tags: , , , , , , , |

Both the insurance and banking sectors are expected to become more expensive from July 1 due to a jump in post-GST rates to 18% from the existing 15%. The impact of the GST on insurance and banking will raise premiums, particularly for households who have health, life, and auto insurance. GST on Insurance Life Insurance & [...]

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Impact of GST on works contract

By |2021-10-07T12:35:04+00:00September 30th, 2021|Categories: GST|Tags: , , , , , , , |

A works contract is primarily a service contract with the possibility of item supply as part of the contract's execution. A works contract, by definition, is a formal agreement to do work or other obligations in exchange for money, such as construction, installation, modification, repairs, maintenance, or renovation of any immovable property. A subcontract for building [...]

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Impact of GST on Rental Properties – Commercial and Household

By |2021-07-02T07:40:45+00:00February 5th, 2021|Categories: GST|Tags: , , , , , , , |

Introduction With the Introduction of this act, there were minor changes introduced on commercial rental income, the limit was 10 Lakh for commercial rental income, with the introduction of GST it raised to 20 lakhs. Since rent has been an important source of income for many and here so the implementation of GST on commercial rental [...]

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