A GST number is required to fileGST returns, which are periodic statements of a registered person’s transactions and tax liability. Filing GST returns is mandatory for every GST-registered person, even if there is no business activity or tax liability in a given period. 2. Claiming Input Tax...
the total cost becomes ₹105. Upon adding ₹50 in value to the product, he sells it for ₹155. The GST on ₹155 is ₹7.75, but he can claim an input tax credit of ₹5 for the GST paid on raw materials. Therefore, the net GST liability of the manufacturer is ₹2.75...
GST Benefits: There are reduced GST rates on EVs (5%). However, for FVs, standard GST rates are applied. Road Tax Exemptions: Certain states offer road tax exemptions for EVs. But, for FVs, there are no uniform road tax exemptions. Green Number Plates: EVs receive distinct green number ...
What you need to file a tax return depends on the territory or province you live in, your unique employment circumstances and your various sources of income. With that in mind, here are some examples of the documents you may need to fill out a personal tax return in Canada successfully. C...
You will be charged $6.00 (incl. GST) per month for each ‘active employee’ paid using QuickBooks Payroll. An ‘active employee’ is one who has been paid at least once in the billing month. For Advanced Payroll, there is an additional monthly subscription fee of $10 (incl GST). ...
such as solar panels, it produces electricity. In some cases, this renewable energy system may produce more electricity than you actually use in your home or business. The excess energy is then fed back into the grid, and PGE provides a credit on your bill for the value of this excess en...
Only for the purpose of determining the tax rate slab is the declared or publicised tariff relevant. GST will be due on the transaction value, which is the actual amount charged What will the GST rate be if the price increases (more than the announced tariff) because of a second bed?
Charges: Banks levy nominal charges on RTGS fund transfer, ranging from ₹20 to ₹40 (plus GST), based on the transfer amount. NEFT and RTGS – Prerequisites for Fund Transfers When initiating NEFT and RTGS transactions, you need to provide some vital details about the beneficiary and th...
Managerial accounting means the accounting procedure that deals with presenting and providing accounting information to the management systematically. It performs various functions effectively and efficiently. Answer and Explanation: Answer c Mixed cost me...
When you buy in bulk the taxes are calculated differently on grocery items and usually you will end up paying more for your gst/hst/pst. Maxx October 25, 2012 at 3:49 pm Costco USED to have some good deals. Not much any more. If you have to have a specific NAME brand packaged ...