As the government is lowering the threshold, you can read our article – why small businesses should look forward to e-invoicing. Also, the GSTN first announced and then postponed the 7-day invoice generation limit rule. However, you can read: How 7-day e-invoice generation limit will Impa...
However, the GSTT truly applies to the very wealthy because the transferred amount is astronomical. Most people will never encounter the GSTT because of the high threshold: the tax only applies when the transferred amount exceeds $13.61 million per individual (for single taxpayers, in 2024), and...
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...
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...
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. These are not EU VAT numbers and can not be used to reduce the amount of VAT to be paid. How...
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 ...
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...