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...
Who is eligible for GST Registration? Under Goods And Services Tax (GST), businesses whose turnover exceeds the threshold limit of Rs.40 lakh or Rs.20 lakh or Rs.10 lakh based on the criteria, must register as a normal taxable person. It is called GST registration. What is registration ...
#Turnover Criteria:-All taxpayers who have an annual turnover above 40 lakhs are required to get new GST registration. For Service supply, Turnover limit is 20 lakhs. #Causal taxpayer:-If you supply goods or services in events/exhibitions where you do not have a permanent place of business...
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GST Refund Time Limit The claim for a GST refund must be submitted within two years following the relevant date. This is in accordance with the CGST Act of 2017 Section 54. The relevant date may vary based on the kind of refund that is requested. For the majority of refunds, the relevan...
Explore this guide on GST invoices, covering formats, rules, and frequently asked questions for businesses to stay GST-compliant in 2025.
Ever since GST or Goods and Services Tax regime was announced, there has been a wide speculation about theGST ratesbracket. It’s clear that the government’s intentions are to have lower tax rate for goods and services which are essential needs and higher tax rates for goods and services ...
GST stands forgoods and services tax. It is a tax levied on goods and services sold domestically for consumption. Through the Goods and Services Act 2016, the government imposed GST on products and services at each stage of the supply chain. Whenever the manufacturer sells to the wholesalers,...
The requirement for GST Registration in Singapore is mandated by the turnover threshold set by the authorities. Here, turnover means annual taxable turnover earned through taxable supplies of goods and services by an entity. The threshold limit in Singapore is set at $1 million. ...
All dealers and traders that sell goods and services online must be registered under the GST law, even if their turnover is less than the prescribed limit for claiming the tax that is deducted by e-commerce operators.Value that GST TCS must be deducted on...