Audits might seem random, but there are specific triggers that might make certain companies more susceptible to an audit. Material changes that occur within a company, such as a new tax registration or significant increase in the amount of revenue reported, are good examples of activities that ...
The last date for filing GST returns and GST audit report for fiscal year 2017-18 is June 30, 2019. TheGoods and Services tax (GST)system requires taxpayers to self-assess their tax liability and pay their tax without any intervention by the tax authorities. The law provides for a robust ...
A GST registration certificate is a valid document that is the proof of getting registered under GST in India. A GST registration certificate is needed by any business in India whose turnover exceeds the threshold limit for GST registration. However, there are also certain businesses like casual ...
It’s important to ensure you are declaring GST collected and GST paid accurately, as the ATO can use the BAS as an audit point. To do this, you must choose the correct GST code when recording your business income and expense transactions in youraccounting software. Always have the invoice ...
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Registered persons whose Aggregate Turnover exceeds INR 2 crore during a financial year are liable for GSTAudit. Aggregate Turnover is calculated on the Permanent Account Number (PAN) basis. This means if an individual has four branches (having the same PAN) in 4 different states, turnover of...
taxing district when filing. There are other states that only require information at a consolidated or state level. Having accurate, detailed, and updated records is crucial for maintaining tax compliance and will be helpful when it is time to file a tax return, or in the event of an audit...
These may include value-added tax (VAT), goods and services tax (GST), customs duties or tariffs. If you're a U.S. business operating overseas, or a foreign business operating from the U.S., you should also check for any double taxation liabilities. Tax considerations should be part of...
How tax schedules work for the Australian GST How to handle reduced-input tax credits in Business Activity Statement reporting tool How to set up the VAT Daybook reports How to specify Maintain History options for BAS and PAYG reporting How to void a transaction for an Australian company Manual...
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