Not-for-profits and the GST: Taking care. (cover story)Focuses on the issues on implementing goods & services tax (GST) affecting the operations of nonprofit organizations in Australia. Requirements for registration; Life and annual membership fees; Sponsorship deals; Calculation of whether donations...
In my view, it does not accord with the natural meaning of paragraph 40-35(2)(a) and subs 40-65(1), to determine the question whether the residential premises are to be used predominantly for residential accommodation, solely by reference to the physical construction of the premises, and w...
Connection Income Taxesmeans Other Connection Taxes that are imposed on or measured by net income (however denominated) or that are franchise Taxes or branch profits Taxes. Estimated taxesmeans the amount that the taxpayer reasonably estimates to be the taxpayer's tax liability for a municipal corpo...
The tribunal determined that the loans originated by the NBFC were not on behalf of the bank, but rather as independent transactions governed by a separate service agreement. This agreement stipulated distinct service fees for the NBFC’s management of the loans, emphasizing that the NBFC was not...
No, not every item is subject to GST. According to the old taxation system, certain commodities are exempt from GST, whereas others are taxable. What is the Gold GST? Gold is subject to a 3% GST. Nevertheless, the production fees for gold that can transform into decorations and jewellery ...
21.Expenses or payments not deductable 22.Higher to retire process 23.Maintenance of books of accounts 24.Basic of tax deduction at source 25.TDS on salary 26.TDS on payment to contractors 27.TDS on payment of rent 28.TDS on fees for proffessional/technical services ...
A finish of GST exemption has been offered by the leading government think tank also the authorities have not taken any action for the last 6 months. The National Institute of Public Finance and Policy (NIPFP) study contends for drawing all the goods and services under the tax regime since ...
The Central Board of Indirect Taxes and Custom has stated that the businesses whose annual turnover is less than 40L need not go for GST Registration. Further, the documents vary as per the business, and here you will get comprehensive information of the same. In general, the essential docum...
Transfer pricing: Implications for VAT Companies engaging in intercompany cross-border transactions whereof the remuneration is not calculated on an independent market pricing basis might be subject to transfer pricing rules that could result in adjustments of their profits. However, in addition to inco...
However, this retention period does not apply if the data is needed solely for enabling the individual access to their user account or any virtual tokens that are issued by or on behalf of the entities that can be used for money, goods, or services. In these cases, the data can be kept...