Now, as the nation prepares for the upcoming General Election in 2024, speculation looms over the convening of the next meeting of the GST Council. Read our article on Uncertainty Ahead: The Impending GST Council Meeting Amidst Election Speculations to know more. Since GST compliance is your to...
GST Council recommends exemption of GST on contributions by general insurance companies from third-party motor vehicle premiums for Motor Vehicle Accident Fund GST Council recommends no GST on transaction of vouchers as they are neither supply of goods nor supply of services. The provisions related ...
It depends. In general, GST registration is mandatory if your business meets any of the following conditions: Your turnover in a financial year exceeds Rs 20 lakhs (Rs 10 lakhs for North Eastern and hill states). Your business is registered under an earlier law, such as Service Tax or VAT...
You can claim input tax for pay per trip chauffered private hire cars, such as limousine services. General insurance for your business Input tax claims for general insurance expenses such as fire, burglary, machine risks, and trade cargo insurance. Items disallowed from being claimed for input ta...
tax) which are inputs to his business. Therefore, the tax itself is not a cost to the intermediaries and does not appear as an expense item in their financial statements. GENERAL OPERATIONS OF THE INDUSTRY Warehousing Scheme 5. A bonded warehouse is a designated area, approved by the Royal...
In general, GST registration is mandatory if your business meets any of the following conditions:Your turnover in a financial year exceeds Rs 20 lakhs (Rs 10 lakhs for North Eastern and hill states). Your business is registered under an earlier law, such as Service Tax or VAT. You are ...
Under the general rules, a non-resident business supplying goods and services in Canada must register for federal Goods and Services Tax (GST) if they meet the following criteria: They provide taxable (including zero-rated) supplies in Canada in the course of carrying on business activity in Ca...
Have you ever thought ofGeneral Studies (GST)and other Courses offered in Nigerian Universities fromyear Oneto final year? Worry no more. I am here to guide you on the courses you’re expected to offer after you gain admission to study in Nigeria. ...
Under the general rules, a non-resident business supplying goods and services in Canada must register for federal Goods and Services Tax (GST) if they meet the following criteria: They provide taxable (including zero-rated) supplies in Canada in the course of carrying on business activity in Ca...
Goods and services tax is a form of value-added tax levied on most products sold to the general public. This particular tax is usually paid by consumers; it is then passed on to the government by the business offering the goods and services. In a nutshell, the goods and service tax is...