State GST rates on intra state services set with variable rates and conditions including input tax credit limits and valuation rules. Notification under the Jammu and Kashmir Goods and Services Tax Act, 2017 notifies state tax rates for intra State supplies of services by reference to a service classification table, specifying for each heading the applicable state tax rate and any conditions. Several services are chargeable only where input tax credit on goods or services used has not been taken, and partial credit use requires reversal as if the service were exempt. Valuation rules include deeming land to be one third of total consideration in certain construction contracts and prescribed valuation for lottery supplies; definitions and interpretative rules are set out and the notification is effective immediately.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
State GST rates on intra state services set with variable rates and conditions including input tax credit limits and valuation rules.
Notification under the Jammu and Kashmir Goods and Services Tax Act, 2017 notifies state tax rates for intra State supplies of services by reference to a service classification table, specifying for each heading the applicable state tax rate and any conditions. Several services are chargeable only where input tax credit on goods or services used has not been taken, and partial credit use requires reversal as if the service were exempt. Valuation rules include deeming land to be one third of total consideration in certain construction contracts and prescribed valuation for lottery supplies; definitions and interpretative rules are set out and the notification is effective immediately.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
