GST is a value-added tax levied on supply. GST offers an extensive and continuous chain of tax set-offs. The supplier at each stage can use the input tax credit of GST paid on the purchase of goods and services.
GST Input Tax Credit utilisation is not permitted on services related to general insurance, servicing, repair, and maintenance concerning motor vehicles, vessels, or aircraft. This provision aims to align with the broader restrictions on ITC for motor vehicles, vessels, and aircraft themselves, ensuri...
A GST number is also necessary to claim the input tax credit, which is the amount of GST paid on the goods or services purchased for business purposes. Input tax credit claim is likely for a GST-registered person only if the supplier has uploaded the invoice details in the GST portal and...
Excise Tax Services, Enterslice helps businesses comply with excise tax regulations and the applicable tax rates and provide guidance on available exemptions or deductions.
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The countdown to GST is on and majority of Indian businesses are still not ready. A person may opt for voluntary registration under Goods & Services Tax, even if he is not liable to be registered. A ‘movement’ of goods of more than Rs 50,000 in value can not be made without ...
Q: Is DA applicable for pensioners staying abroad? Ans: If such pensioners are reemployed abroad, DA is not granted. However, pensioners without reemployment, whether in India or abroad, receive DA on the basic pension amounts.Q: Do pensioners become eligible for DA at reemployment? Ans: ...
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A sole trader keeps all of the company’s profits after tax has been paid on them, rather than having to share profits with a partner. They also accept soleliabilityfor paying tax on their profits. If a sole trader in Australia earns above $75,000, they must register for GST. ...