4. Is the HSN Code required during GST return filing? HSN codes are required during GST return filing for businesses with turnover above specified thresholds. 5. Is it mandatory to use the HSN code for every business transaction? Yes, it is mandatory to use the HSN code for all goods and...
India has implemented e-invoicing in phases to ensure uniformity and interoperability within the GST ecosystem. Here are the phases of implementation and their respective turnover thresholds: Phase 1 (from October 1, 2020): E-invoicing became mandatory for...
When businesses deal with the movement of goods that exceed the thresholds specified by GST, they must follow the regulations of E-way bills. Failure to comply with the same, or not generating e-way bills for goods that require them can trigger the GST authorities to send them GST notices....
At a Glance Name of the Tax Local Names Date Introduced European Union (EU) Member State Administered by VAT Rates Standard Reduced Other VAT Number Format VAT Return Periods Thresholds Registration Distance Selling Intra-Community Acquisitions Recovery of VAT by Non- Established Businesses Value Added...
If you currently import into Singapore, your low-value imports (less than 400 SGD CIF*) are free of import tax. Singapore implemented a taxation system for low-value goods (LVG) on January 1, 2023, but only for larger retailers who exceed the registration thresholds. This guide will explain...