Services provided by an arbitral tribunal to a business entity with a turnover up to rupees twenty lakh attracts no GST
Is Services provided by an arbitral tribunal to a business entity with a turnover up to rupees twenty lakh (ten lakh rupees in a special category state) in the preceding financial year is exempted to pay GST? Any GST concession on Services provided by an arbitral tribunal to a business entity with a turnover up to rupees twenty lakh (ten lakh rupees in a special category state) in the preceding financial year? Should I need to pay GST on my service product Services by an arbitral tribunal to a business entity with a turnover up to rupees twenty lakh(ten lakh rupees in a special category state) in the preceding financial year?
As per GST Law 2017, there is no GST payable on Services provided by an arbitral tribunal to a business entity with a turnover up to rupees twenty lakh.
So the rate of GST payable on Services provided by an arbitral tribunal to a business entity with a turnover up to rupees twenty lakh is nil rate.
Commonly used Goods and Services at 5%, Standard Goods and Services fall under 1st slab at 12%, Standard Goods and Services fall under 2nd Slab at 18% and Special category of Goods and Services including luxury - 28%. The most essential goods and services attract nil rate of GST under Exempted Categories. Luxury goods and services and certain specific goods and services attract additional cess than 28% GST
The above details about GST rate tariff on Services provided by an arbitral tribunal to a business entity with a turnover up to rupees twenty lakh (ten lakh rupees in a special category state) in the preceding financial year is only for information.
The validity of above information and amendments about GST rate on Services provided by an arbitral tribunal to a business entity with a turnover up to rupees twenty lakh (ten lakh rupees in a special category state) in the preceding financial year may be verified before any business dealing.
Click here to know GST rate on Goods and Services
GST Exemption list of goods and services
How to export your goods?
Learn exports imports free of cost
Functions of Branch of Authorized bank under GST Tax collection
Functions of Branch of Authorized bank under GST Tax collection
Mechanism of GST payment between GSTN and bank
GST payments of Cheque or DD from another bank
GST payment by Cash and same bank Cheque or DD
Validity period of Challan under GST tax payments