Deemed exports are transactions whereby goods supplied don’t exit the country, and payment for such service is either received in convertible foreign exchange or Indian Rupees. The following types of supply of goods or services would be regarded as exports under GST: Goods supplied by a ...
Under GST tax system in India, there are three types of GST. They are IGST (Integrated Goods and Service Tax), CGST (Central Goods and Services Tax) and SGST (State Goods and Service Tax). I have written a simple and brief explanation about types of GST and types of goods and service...
GST returns for Input Service Distributor (ISD) TDS calculation under GST returns GST Returns, Advances received against a supply to be made in future Post sales discount under GST returns Procedures to assess credit note and debit note under GST Act Bills of Entry relating to Import under Good...
Where a supplier belongs in Malaysia, every supply of services provided by him is within the scope of GST. A supplier of services belongs in Malaysia under the following circumstances: they have a business establishment or fixed establishment in Malaysia and no such es...
Refund of GST to CSD canteens, para military forces canteen etc Refund of GST tax on deposit under investigation Refund of amount deposited for GST appeal Finalization of provisional assessment under Goods and Service Tax refunds Refund of GST tax on excess payment due to mistake or inadvertentce...
Get list of exempted list of goods and services under GST. Over 80 services have been notified as exempted services under GST taxes in India.
GST has revolutionized India's taxation system by replacing multiple indirect taxes with a unified tax structure, streamlining operations, and fostering a seamless national market. Here's a breakdown of its impact across various sectors: Loans and Advances Previously, service tax was levied on loans...
You own and operate a taxi or limousine service where customers pay a fare You wish to claim back tax and/or fuel creditsIf your business does not fall into one of these categories, then in Australia, it is optional whether you choose to register your business under GST.The...
Curious about Goods and Services Tax (GST)? Discover why it is considered an indirect sales tax and what are the main differences with VAT.
Most countries with a GST have a single unified GST system, which means that a single tax rate is applied throughout the country. A country with a unified GST platform merges central taxes (e.g., sales tax, excise duty tax, and service tax) with state-level taxes (e.g., entertainment...