customers who consumed some taxable services. According to those acts, any amount that is expressed in a currency other than the Malaysian ringgit must also be expressed in Malaysian ringgit. The selling rate of the prevailing exchange in Malaysia at the time of the sale of taxable goods is ...
15 Things to know while claiming Input Credit of GST on Capital Goods One of the most complex issues that have caused much uncertainty for a normal taxpayer is of claiming the refunds of IGST that has been incurred on the exports of the goods. Most of these IGST refunds are in relation ...
15 Things to know while claiming Input Credit of GST on Capital Goods One of the most complex issues that have caused much uncertainty for a normal taxpayer is of claiming the refunds of IGST that has been incurred on the exports of the goods. Most of these IGST refunds are in relation ...
5. Sale reversed after GST Paid If the goods are rejected after a few days of the sale and the taxpayer has already paid the GST due on the sale, such differences also need to be pointed out. Reconciliation of GSTR-2A with the taxpayer’s books of accounts is necessary to claim ITC ...
This indicates that no goods and services cess will be added to the sale price of goods and services intended for export. Under the Indian GST law, the supply of goods or services from one state to another is classified as interstate supply –on which the Integrated Goods and Services Tax ...
Each state collected Value Added Tax (VAT) for the sale of goods within the same state. For the inter-state sale of goods, CST (Central State Tax) was levied by the centre. And, on the sale of services, service tax is applicable. ...
The GST officers have come to a conclusion by providing the businesses with a system through which it will become mandatory for them to generate ‘e-invoice’ for every sale on the government GST portal. This system will only be applicable to those whose turnover threshold is above the determ...
Can we get an Input Tax Credit for capital expenditures like Solar panels, vehicles, etc.? Input Tax Credit (ITC) on capital goods is generally available if they are used in the course of business. However, the input tax credit is not available on cars unless you are in the business of...
This topic lists the important FAQ on GST, especially related to GSTR-1, unregistered dealers, HSN/SAC, tax calculations, invoicing and printing, cash discount or trade discount, GST features, GST calculation, licensing and migration, and others.
Transportation of goods without issue of invoice under GST Meaning of Transitional arrangements for ITC under GST Transition provisions under GST Term Transition credit under GST Transfer of credit on sale, merger, amalgamation, lease Means Term transaction value under GST ...