Also, we are happy to share that if your business has crossed the e-invoicing threshold, you can start generating IRN via IRIS IRP, a GSTN Authorized Invoice Registration Portal. Now, let us look at the GST Compliance Calendar for December 2022; here is a comprehensive image of our GST ...
In Royal Lion Capital Pty Ltd and Commissioner of Taxation [2021] AATA 3049 the Tribunal affirmed the Commissioner’s decision to to register the applicant for GST on the basis that it had exceeded the GST registration turnover threshold of $75,000 from 1 April 2018 and that it was carrying...
Regulations are different from country to country. Businesses may apply for a VAT number at any time. Businesses that meet a minimum threshold of income are obligated to apply for one. Note that many European countries may issue national (non-EU) tax numbers or other tax identification numbers...
GST benefits small businesses by providing them with a threshold exemption limit, reducing compliance burden, and enabling them to compete more effectively in the market. 3. What are the advantages of GST? The advantages of GST include the simplification of the tax system, elimination of cascading...
The GSTT truly applies to the very wealthy, however, because the transferred amount is significant. Most people will never encounter the GSTT because of the high threshold. The tax only applies when the transferred amount exceeds $13.99 million per individual for single taxpayers and $27.98 million...
The proposed GST Appellate Tribunal is expected to be included in the Finance Bill 2023. This means that it will become a part of the central government’s budget, and will have legal standing. Do you know? Income Tax Appellate Tribunal (ITAT) was the first Tribunal in India to be created...
However, the threshold calculation amount that was received before October 1 is also considered. TCS on the collection of payment from the customer against a sales consideration: The CBDT clarification states, "It may be noted that this TCS applies only in cases where the receipt of sale ...