Interest on loans and advances including overdrafts, mortgage loans, trust receipts, foreign currency loans Interest earned on deposits Examples of fees and services subject to GST include: Arranging, broking, underwriting, custody and advisory services Credit cards – annual fees, chargeback fees, air...
The issuance of LUT validates the export process, establishing the export of goods within three months 15 days from the invoice date, while the payment for the same (in foreign currency) will be received within one year 15 days of the invoice date. The exporter is required to submit the ...
Price paid for the goods excluding GST, the total GST charged and the price paid including GST (which may be expressed in a foreign currency), or where GST is included in the price, the price paid, and a statement that it includes GST....
Dear sir, We are an Air Travel Agent of a Foreign Economy Class Airline called Air Manas based kryzkistan. We are buying tickets from the Air Lines by making payment in foreign currency. Since the Airline is not in the taxable Territories , do we have to pay GST on RCM basis on purch...
You are able to apply for authorization to make those payments in a qualifying foreign currency. The net tax you would be required to calculate and report is simplified since you would not be allowed to claim input tax credits (ITC). How to register to collect tax in Canada Before you col...
1. Sales made in foreign currency GST registered businesses should use convert the approved exchange rate to convert the following items in the tax invoice into Singapore dollars (a) total amount payable excluding GST (b) total GST payable ...
The issue in the first case was whether certain supplies of foreign currency by Travelex were GST-free or input taxed. The issue in the second case was, having been successful in the first case, whether Travelex was entitled to interest on subsequent refunds paid by the Commissioner on ...
the platform which uses your artwork, and you receipt the payment in convertible foreign exchange, and the place of supply is the location of the recipient of services according to section 13 (2) of IGST Act, is outside India, your services qualifies export of service.According to section 7...
In the case of imported goods, the value includes customs duty and excise duty paid/ to be paid (where applicable). Where value of supply is expressed in a foreign currency, it is to be converted into RM at the selling rate of exchange prevailing in Malaysia at...
The issue in the first case was whether certain supplies of foreign currency by Travelex were GST-free or input taxed. The issue in the second case was, having been successful in the first case, whether Travelex was entitled to interest on subsequent refunds paid by the Commissioner on ...