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What is GST tax rate?

GST on Loans and Advances. Earlier Service Tax was levied on Loans which has now been replaced by GST which would now be levied on loans. The rate of Service Tax was 15% whereas the rate of GST is 18% . Jul 1 2020

What is the input tax credit under the GST?

All about "INPUT TAX CREDIT (ITC)" under GST Regime Introduction to ITC. Input credit means at the time of paying tax on output, you can reduce the tax you have already paid on inputs. Taxes under GST to claim ITC. Integrated GST (IGST) is for inter state movement of goods whereas Central GST (CGST ) & State GST (SGST) / Union territory GST ... Conditions to claim ITC under GST. ... More items...

How does the generation-skipping transfer tax works?

The IRS uses the generation-skipping transfer tax to collect its portion of any wealth that is transferred across families , when not passed directly from parent to child. Assets subject to the generation-skipping tax are taxed at a flat 40% rate.

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