Disposal of business assets On a transfer or disposal of goods which form part of business assets by or under the direction of the person carrying on the business, whether or not for a consideration, the time of supply is at the time when the goods are transferre...
+ 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...
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...
Limit posting based on Allow from/to period Note As of Business Central version 23.1, this control is changed. In earlier versions, there was only one control on theGeneral Ledger Setuppage for both Posting Date and GST/HST Date. Now, these controls are split, so control in theGeneral Ledg...
Logan J dissented, finding that given the acceptance of the taxpayer’s evidence as to how the museum was to be deployed to assist his business of selling cars, the museum was only ever a means of achieving that end. His Honour also concluded that the sale of the museum, and the appoint...
Indirect tax is a kind of tax which is usually paid for by the consumers of a product rather than being paid for by the business selling it. The tax burden of an indirect tax is included as part of the purchase price of a product. ...
1.How to record expenses incurred in the furtherance of business like rent, telephone expenses, stationery and so on, and claim them under GST? Expenses incurred for the furtherance of business, such as rent (commercial), telephone bill, stationery and so on, can be claimed under GST by rec...
In terms of section 7(1)(a) “all forms of supply of goods or services or both such as sale, transfer, barter, exchange, licence, rental, lease or disposal made or agreed to be made for a consideration by a person in the course or furtherance of business;” The taxability under GST...
(g) Sale of capital assets. What is standard-rated supply? For example, sale of goods in a supermarket. It is compulsory to register for GST when: • your taxable turnover for the past 4 quarters is more than S$1 million (i.e. retrospective basis) unless you are certain that your...
With Deskera Books, you can conduct business anywhere in India through a simple online platform that simplifies the GST taxationaccounting system. It is an innovative system forinvoicing, accounting, and various aspects related to accounting such asfixed assets,purchase order and invoice,credit note....