GST: Gifts by employer up to Rs 50000 exempt

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The Union government has exempted the import of aircraft, aircraft engines and its parts via leasing route from the purview of the Goods and Services Tax (GST).

"The search can be made based on description of goods or services or HSN Chapter or section or heading number", the ministry said while adding that the launch of GST Rates Finder app would serve as a ready reckoner on GST rates.

The Finance Ministry also explained what constitutes a gift.

He said interference by officials will be limited, since the GST process is being done through an online process. With GST coming into effect, that charge has been raised to 18 per cent. Gift can not be demanded as a matter of right by the employee and the employee can not move a court of law for obtaining a gift. "It can not be demanded as a matter of right by the employee and the employee can not move a court of law for obtaining a gift", it said.

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Rauner says the 32 percent income tax increase "a 2-by-4 smacked across the foreheads of the people of IL ". The governor was in Farmer City most of the morning for the funeral of State Trooper Ryan Albin.

Services by an employee to the employer in the course of or in relation to her/ his employment is outside the scope of GST, the North Block- housed ministry said. "The decision was unanimous to introduce GST as a subject in commerce as well as management courses in universities", said Deputy Chief Minister Dinesh Sharma. Most of the raw materials such as wood pulp are imported.

The government clarified that the perquisites by the employer to the employee in terms of contractual agreement entered into between the employer and the employee, will not be subjected to GST. He had launched the "GST Rates Finder" mobile app.' The people can search to know about how much they have to pay the Goods and Services Tax or GST for different tax rates.

Legendary tax thieves are out to sabotage the GST, using conservative tactics to circumvent the country's most modern tax reform, an India Today investigation has found.

The study listed the negative implications of the GST for MSMEs as being the lower threshold, no tax differentiation for luxury items and services, increase in product cost, selective tax levying, and higher tax rate for service provider.