Randall, Stephanie
Tax Implications When Selling of a Business Partnership & Partner Elections for Federal Tax Purposes Annual Accounting Scheme: Definition, Exceptions & Taxation Charitable Gifts: Definition & Types Partner's Basis in the Partnership & Partnership's Basis in Assets for Federal Taxes Tax Treatment of Gr...
The goods and services tax (GST) is a type of tax levied on most goods and services sold for domestic consumption in many countries. It is paid by consumers and remitted to the government by the businesses selling the goods and services. Some countries have introduced GST exemptions or reduc...
The first part of the article covered the concept of supply and when a deemed supply will arise. In addition, it also addressed the GST implications of the transfer of a business as a going concern (TOGC). The focus of this article is to look at the four ke...
As you run your business in Singapore, there may be times when you’ve incurred the GST to purchase or import goods to keep the company running. This is known as an input tax. Under certain conditions, you can claim this input tax from the government in the right accounting period. ...
Businesses in India can voluntarily register for the Goods and Services Tax (GST) structure, even if they are not legally obligated to do so. When a business chooses optional GST registration, it is subject to all of the same regulations as a normal taxable person. This implies that the vol...
The selling rate of the prevailing exchange in Malaysia at the time of the sale of taxable goods is used.Relief clauses on invoicesWhen the Minister grants your customers relief from the payment of all or part of the tax on a taxable supply of goods or services, or any importation o...
the government in question. Businesses will add the cost of the goods and services tax to the product they’re selling at checkout. Once businesses have acquired payment for the product and for the GST, they forward the appropriate funds to the government of the country they are selling to....
Business size and model:Whether you operate on a large scale or run a small shop, your model will influence your GST reporting and liability. A wholesaler may operate differently in terms of GST than a retailer, even when selling the same product. ...
Deepa.BWhen Selling a Fabricated Body to Customer, it's HSN Code 8707 and GST Rate 28%,right? Deepa B (Practicing Chartered Accountant ) (573 Points) Replied 09 July 2021 Yes. If it's sale of Fabricated body the HSN code 8707 and rate 28% is correct 1 Like subhagan sreerangam...