GST duty for Practicing Cost Accountant service

GST tariff on Cost Accountant's (Practising) Services

 

Any GST for Cost Accountant's (Practicing) Services? Does Practicing Cost Accountant service fall under exemption list of GST?

 

Click here to know GST rate for this service 

01 copyThe details about GST rate changes for Cost Accountant's (Practising) Services are being updated here. The notification changes on exemptions for GST for sale of Cost Accountant's (Practicing) Services and other circulars related to GST for Cost Accountant's (Practising) Services are updated in this website.

 

Practicing Cost Accountant" means a person who is member of the Institute of Cost and Works Accountants of India and is holding a certificate of practice granted under the provisions of the Cost and works Accountants Act, 1959 (23 of 1959) and includes any concern engaged in rendering services in the field of cost accountancy.

 

Goods and Service Tax (GST) rate tariff in India is designed in 6 categories of goods and services. Four main GST rate slabs framed with Essential goods and services, Standard goods and services and luxury goods and services with 5%, 12%, 18% and 28% respectively. 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 categories of services exempted from paying GST is being declared soon by the authorities. You may go through GST exemption list of services and categories once released and confirm, whether business services of your category fall under exempted list of GST.

 

This post explains about GST impact on Practicing Cost Accountant service. The information about GST rate changes for Cost Accountant's (Practicing) Services are updated here. The notification changes on exemptions for GST for Cost Accountant's (Practicing) Services related to GST are updated in this website soon.

 

Click here to know GST rate for this service 

 

Click here to know GST rate on Goods and Services

 

Click here to know GST exemption list of goods and service

 

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