Before introducing and executing GST, the property owner must register for service tax if the total taxable service exceeds Rs.10 lakhs per year, including rental revenue from all properties. On the other hand, the landlord would not be taxed service tax if his total taxable income from all p...
The decision provides an interesting discussion on the requirements for a “creditable acquisition” under s 11-5 of the GST Act, in particular the need for there to be a sufficient connection between acquisitions made by registered entities and the enterprise carried on by the entity. Facts Th...
The decision provides an interesting discussion on the requirements for a “creditable acquisition” under s 11-5 of the GST Act, in particular the need for there to be a sufficient connection between acquisitions made by registered entities and the enterprise carried on by the entity. Facts Th...
SCB charged me an annual fee on 1 January 2015 for the Safe Deposit Locker Rental. Will this fee be subject to GST? Rental for Safe Deposit Locker is subject to GST effective from 1 April 2015. As this fee spans 1 April 2015, the fee portion attributable prior to 1 April 2015 will n...
Real estate, financial services, rent (Residence), charities, health, education Medical, education, finance, insurance, postal services Real estate, Financial services, Residential rental Significance of sharing GST with local bodies: Promoting Co-operative Fiscal-federalism: Sharing GST revenues with loc...
Respected to all I have purchased house which was used for business purpose so that how to make entry in tally and also gst is applicable on that or not - GST
GST could have a major impact on ERP systems, which has been listed below: 1. Supply Supply, includes all forms of supply of goods and/or services such as sale, transfer, barter, exchange, license, rental, lease or disposal made or agreed to be made for a consideration by a person in...
The self-supply rules are designed to put builders—who could otherwise construct or substantially renovate a residential complex to be used as their rental or personal-use property without paying GST/HST on the fair market value of the property—on a level footing with others who would ...
Examples of Exempt Supplies of Goods and Services Education Rental of real estate under certain conditions Concession awards Certain staple foods (for example, water, milk and bread) Local passenger transportation (less than 100 km) International transportation Interest on preferred shares and equity ...
The GST-registered employer has provided accommodation in a hotel, inn, boarding house or similar establishment free to the employees. Taxable Value of Fringe Benefits Next, it is crucial for a GST-registered employer to determine the value of the taxable fringe benefits once it has ascertained ...