In this context, businesses do not collect any GST on their supplies and are not entitled to claim credit on their business inputs. In such a case, the GST input tax incurred by the exempt business would become a cost to the business. Examples of exempt supplies...
+ audit activity + GST and sale of business assets + other mentioned earlier – partnerships, property etc. Record keeping + requirements are as follows: + must specify and explain all transactions + generally must be kept for at least 5 years + must be in English or reasonably convertible相...
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The case involved the imposition of luxury car tax and GST and the characterisation of the taxpayer’s “purpose” in displaying a number of luxury motor vehicles in a “car museum” in circumstances where each of the vehicles was available for sale and was, in fact, sold. Were the vehicle...
Applicable On supply side: GST is applicable on 'supply' of goods or services as against the old concept on the manufacture of goods or on sale of goods or on provision of services. Destination based Taxation: GST is based on the principle of destination-based consumption taxation as against...
Introduction of GST is playing a key role in development of leasing industry, from a stage where it had nearly become extinct. We have further discussed GST implications on leasing. The Sale The first leg of the transaction would involve sale of Assets by lessee to lessor. In terms of secti...
This includes the value of all standard-rated (GST at 8%) and zero-rated (GST at 0%) supplies but it excludes exempt supplies, out-of-scope supplies and the sale of capital assets. For the purpose of determining your liability for GST registration, the value of exempt supplies that are...
In case of Inter-State Sale, IGST will be calculated. See Also GST and TCS on Customer Advance Find free e-learning modules for Business Central here 意見反映 此頁面有幫助嗎? 是否 提供產品意見反映 更多資源 事件 11 月 4-7 日 Microsoft Cloud for Sustainabilit...
What are deferred tax assets? What is a superannuation contributions tax? What is being paid in 941 taxes? What is self-assessment in income tax? What are the classifications of taxes? What are tax audits? What is tax loss harvesting?
1.In Tally.ERP 9, is there a provision to calculate KFC when the services are rendered in Kerala but the business is registered outside Kerala? We understand that this is a requirement for your business, since you operate with such a customer base. We have noted this requirement, and we...