Under the GST regime, exports of both goods and services are not taxed. You may request a refund of input tax credits (ITC) for inputs/input services used in exporting goods or services, subject to satisfying the requirements. What is the GST exemption limit for export of services? GST tr...
Services Local and imported services International services for customers based outside of Singapore Meanwhile, exempt supplies include: Type Exemption Out-of-scope Goods Sales and rental of unfurnished residential property Importing and supplying investment precious metals such as gold, silver and platinu...
Threshold Exemption: Small businesses with a turnover below a specified threshold (currently, it is 20 lakhs: supplier of both goods & services and 40 lakhs: for supplier of goods (Intra–State) in India) are exempt from GST. Present Challenges in GST Rates Complexity and Confusion: The exis...
If you wish to make the non-taxable, select the Non-Taxable option. You will be prompted to select an Exemption Reason - GST FREE or INPUT TAXED SALES, which you can select from the drop down.Note:INPUT TAXED SALES: The price of goods and services do not include GST. Click here to ...
Social media: Create posts highlighting popular items that qualify for the tax exemption, such as car seats sold for children or catering services. Email campaigns: Send newsletters explaining how customers can save during the GST holiday.
Exemption Reason Users have to enter why a customer / transaction / item is exempt from sales tax. Ex: Medicine, Legal aid services, Music lessons etc. Prerequisites Your organization must have it’s country as Canada and its currency must be Canadian Dollars(CAD). Enable Tax To enable tax...
Aggregate turnover is a critical parameter for businesses to determine their eligibility for threshold exemption under GST registration. It includes various elements of a taxpayer’s financial activities while excluding certain components to arrive at a comprehensive figure. ...
Reverse Charge Mechanism (RCM) List under GST- Goods and Services. Income Tax Slab Rates under old & new tax regime for AY 2023-24 Latest News and Update GST Credit (ITC) on Buy One Get One Free Offer ITC in respect of goods that are disposed of by way of gift or free samples is...
The amended Notification now provides unconditional exemption from applicability of GST under reverse charge when goods or services are received from unregistered persons. The exemption shall be operative till 31st March 2018. (c) 2016 Microsoft Corporation. All rights reserved. This document is ...
The amended Notification now provides unconditional exemption from applicability of GST under reverse charge when goods or services are received from unregistered persons. The exemption shall be operative till 31st March 2018. (c) 2016 Microsoft Corporation. All rights reserved. This document is ...