There are many recommendations from different states, industries to reduce the rates on many items, after that meeting in Goa Finance Minister of India said that the rates were revised because not to put pressure on peoples & also for the businessman, GST was to maintain to the original taxes. There are some cases it is required definitely, & in some, it was not, because of the changing nature of the economy and changes in consumer preference.
We have been notified by the CBIC for changing GST taxes that are come now in presence from 01 OCTOBER 2019. These notifications have been issued to implement the decisions taken by Finance Ministry meetup at Goa on 20 SEPT 2019.
Many items were placed under high rates of GST of 18% to 28%, it was found that these items are of regular use and not luxuries, Peoples can easily purchase them, the GST council has reduced the tax rate on all of these essential items. There are many reductions in taxes we will let you know, but the main is that labour printing is decreased from 18% to 12%.
Printing Industry is the deep Industry as it starts from Newspapers, Magazines, Stickers, Books, etc. Nowadays, Tshirts, Cups, Names, Tattoos & etc.
GST has made many significant changes in the way that applies on the Printing Works via earlier VAT, Service Tax Schemes. You can easily understand GST Applicability on Printing Works.
The Important Point thinks in the printing business is that any work contract does not come under the GST Law. It will not work for any contract. Because it is no more works under contract in the GST because the current GST Works Contract only includes the Immovable Property unlike in VAT & Service tax before where Works Contract Including both Movable and Immovable Property.
There is much confusion in GST in regard to labour printing that leads to the goods or services, It applies only for the dominant intention. For Example, you took contract from the publisher and printed the books then you are printing services providers, The publisher is a seller and he is selling goods under the Chapter 4901 and HSN Code rate then GST will definitely apply.
The printing presses in Lower Parel, Mumbai
There are many printing presses in Mumbai
When we are looking for any product or service we look for the best service, so the Eastern press is the best that deals in all types of printing services.
The main objective the eastern press works on the latest technologies that drive Easternprinting press at the time of its inception, it is the vision to provide the infomediary delivery expanded print media choices to the customer along with the high level of efficiency & customer satisfaction. Eastern press is counted as the few solution providers in Mumbai or nearby places to complete in a house production unit with art machinery.
We provide the following services like
The eastern press works according to the client needs within their budget. So you for any service you can visit us in Mumbai.