Some popular GST Books that come to my mind are:
- Taxmann's GST Ready reckoner.
- Taxmann's GST manual.
- GST Ready Reckoner: By CA Keshav R Garg.
- GST Acts, rules and forms with referencer: By CA Ashok Batra.
Though books continue to remain exempt under GST, but inputs such as printing, binding and royalties to authors now attract tax at 12 per cent. Since the publishers don't get input tax credit, they now propose to pass it on to customers.
Things that are GST-free include:
- most basic food.
- some education courses, course materials and related excursions or field trips.
- some medical, health and care services.
- some menstrual products (from 1 January 2019)
- some medical aids and appliances.
- some medicines.
- some childcare services.
So when paper or other media is supplied by client to printer for printing, the GST rate is 5%, but when such paper/media is acquired by printer himself towards order of client, the GST rate is 12%.
Paper Based Stationery Product Attracting 18% GST
The following goods attract 18% GST: Carbon paper, self-copy paper and other copying or transfer papers (including coated or impregnated paper for duplicator stencils or offset plates), whether or not printed, in rolls or sheets.The GST rate for notebooks is 18% which will be then divided into CGST9% AND SGST9% i.e central goods and services tax and state goods and services tax respectively.
GST Rate & HSN Code for Printed Books, Brochures, Newspapers - Chapter 49
| HSN Code | Description |
|---|
| 4901 | Printed books, including Braille books |
| 4901 | Brochures, leaflets and similar printed matter, whether or not in single sheets |
| 4902 | Newspapers, journals and periodicals, whether or not illustrated or containing advertising material |
Newspaper attracts no GST
As per GST Law, there is no GST payable on Newspaper. So the rate of GST payable on Newspaper is nil rate. The Council has broadly approved the GST rates for goods at nil rate, 5%, 12%, 18% and 28% to be levied on certain goods.Paper Products Taxable at 5% GST Rate
Newsprint, in rolls or sheets, is taxable at 5% GST rate. This is the only paper product taxed under this rate.Case: Physical inputs (i.e. paper) and content belongs to recipient customer and printer (i.e. supplier) only provides printing services. The same is considered to be pre-printed. The same can be classified as goods or services* Taxable as services and SAC would be 9988.
While there is no GST levied on books, publishers have to pay GST on two of the biggest costs in publishing - printing and royalties. The Indian publishing industry does not need to be protected, it needs to be nurtured.
GST : HSN Code for Printing & Advertising Agency
| Ch | Product Name | GST |
|---|
| 8443 | Screen Printing Labour | 18% |
| 6305 | Jute Bag / Cloth Bag / Paper Bag | 18% |
| 4820 | Office Stationery | 18% |
| 4821 | All Types of Paper Printing | 18% |
In simple words, Goods and Service Tax (GST) is an indirect tax levied on the supply of goods and services. This law has replaced many indirect tax laws that previously existed in India. GST is one indirect tax for the entire country. Under the GST regime, the tax is levied at every point of sale.
If you are supplying any kind of goods or services in India aboveRs. 20 Lakh of value, you must register for GST, except in certain limited cases where the taxable person is to pay GST regardless of whether he has crossed the threshold limit.
What is GST? Goods and Services Tax (GST) is a value-added tax at each stage of the supply of goods and services precisely on the amount of value addition achieved. It seeks to eliminate inefficiencies in the tax system that result in 'tax on tax', known as cascading of taxes.
GST is one indirect tax for the entire country. Under the GST regime, the tax is levied at every point of sale. In the case of intra-state sales, Central GST and State GST are charged. Inter-state sales are chargeable to Integrated GST.
Set off in GST is to adjust the input tax credit(ITC) of GST paid on inputs or input services against the GST liability of outward supplies. Set off in GST is to adjust the input tax credit(ITC) of GST paid on inputs or input services against the GST liability of outward supplies.
In simple words, Goods and Service Tax (GST) is an indirect tax levied on the supply of goods and services. This law has replaced many indirect tax laws that previously existed in India. GST is one indirect tax for the entire country. Under the GST regime, the tax is levied at every point of sale.
Master Guide - 7 key things that you need to know as GST kicks in
- Registration. If you run a business, you need to get registered and obtain your GSTN number.
- Input tax credit. India's GST is unique because it has a feature of matching invoices.
- Job works.
- Working capital.
- Stock transfers.
- Filing returns.
- Correcting errors in GST registration.
- The concerns.
Salary of GST Practitioner
As a result, it has emerged as a new career opportunity for many. Not to mention, it also has an adequate salary slab. The average annual salary for Accounts Manager in GST Practitioner is INR 4.9 – 6.4 lakhs in India.Primarily, he must be a citizen of India. He must possess a sound mind. He must be an individual who is not adjudged as insolvent. He must not have been convicted at any time by a competent court for any offense which may have resulted into his imprisonment for more than two years of period.
Rahul. That's correct. This GSTP Exam is for sales tax practitioners (STPs) and tax return preparers (TRPs) who have been enrolled at GST Portal due to their practice licence issued under erstwhile State Sales Tax laws, Service Tax, etc. for more than 5 years.
Yes,any person who is willing to become GST practitioner shall have either law/commerce graduation,keeping aside from the CA/CMA or retired Gazetted Officers who worked in GST department. I would suggest you to learn the Return preparation aspects and work in any CA firm and then apply for GST Practitioner exam.
GST Practitioner Eligibility
One has passed a graduate or postgraduate degree or its equivalent examination, having a degree in Commerce, Law, Banking including Higher Auditing, or Business Administration or Business Management from any Indian University established by any law for the time being in force, OR.Process of Registering as a GST Practitioner
- Click on New Registration.
- In the 'I am a' dropdown, select GST Practitioner.
- Select the State and District from the dropdown.
- Enter Name, PAN, Email Address and Mobile Number.
- Enter the captcha code.
- Click on 'Proceed'
The exams are conducted twice a year across India at designated centres. The candidate can opt for the centre of his choice. The date of exam is notified by NACIN and is available on the GST portal and CBIC website. The GSTP exam for 2018 was held on 17 December 2018.
So I'm writing this article to share with you How I got
clients for my
tax consultancy business which I had started from a scratch.
Building Client's trust
- Good Office. A decent office at a decent location will certainly help your client increase his trust on you.
- Guest Columns on Newspapers and TV Channels.
- Writing Books.
GST Practitioner Eligibility
One is a retired officer of the Commercial Tax Department of any State Government or of the Central Board of Excise and Customs, having worked in a post not lower in rank than that of a Group-B gazetted officer, for a period not less than two years, OR.
