Good Documentation Is Critical to GST/HST Audit SuccessBerger, Glen
GST Returns should be filed within the timeframe mentioned to avoid any late fees. A rate of 18% per annum is charged as a late fee. The taxpayer must calculate it based on the amount of tax that still needs to be paid. The time period considered will be from the next day of filing...
RazorpayX automatically deducts and pays the applicable TDS before the due date. Not only that, you can view all the challans on the dashboard post-payment. Automate your Accounts Payable FAQs accounts payablevendor management 0 Raghavi Kasa ...
For example, if the supply cost $77, then the GST paid would be $77 divided 11, being $7.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 ...
“Removal of GST audit should not be seen as one perspective of ease of doing business. Doing away with GST audit will be a retrograde step as it will create greater problems for society in days to come if there is no concept of maker checker,” commented Gupta. He shows that the audit...
An auditor must confirm the state receives all Luxury Tax payments on schedule. He must look into the retention fees that are taken from clients who cancel or fail to show up after making a reservation. Regarding retention fees, an auditor should confirm the applicable legislation of luxury tax...
“The due date for filing the ITR for taxpayers who are required to submit an audit report is October 31st of the assessment year. This due date is applicable to taxpayers who are required to get their accounts audited as per Section 44AB,” said Aditya Chopra, Managi...
Corporation 2010 Public Accountability Statement* Due to the specific nature of its activities, Bank of Montreal Mortgage Corporation (BMMC) provides the following information in response to the requirements set out in section 444.2(1) of the Trust and Loan Companies Act and in the applicable ...
For instance, when April makes payment to vendors, Contoso also needs to pay bank fees to banks. As per Malaysia GST regulations, GST will be applied to the bank charge. Bank will provide GST invoice to Contoso and hence ...
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