GST and residential premises - which intention is relevant?doi:10.53300/001C.6725John TretolaSylvia VilliosPasqualina CalleaBond University
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...
GST (Good and Service Tax) is a value-added tax applied to the cost of certain goods and services. Learn more about what GST is in this guide by QuickBooks.
The “12” specifies the service as rental of non-residential property. This structured framework not only aids in the accurate classification of services for tax purposes but also helps businesses comply with GST regulations effectively. The Importance of the HSN Code ...
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?
For starters, the GST hike has been postponed. There was a chance it would rise from seven per cent to nine per cent this year. This has two effects on commercial property: first, it helps to support retail and F&B tenants who are already struggling. That eventually translates to lower ri...
It also depends on whether you're purchasing a residential property, for the first time, and whether you are eligible for exemptions or concessions. For example, first-home buyers in the ACT can spend up to $1,000,000 on a home and access the Home Buyer Concession Scheme. They would ...
As well, we paid $298 million in other taxes, including $143 million in Harmonized Sales Tax, GST and other sales taxes, $137 million in payroll taxes (employer portion), $14 million in property taxes and $4 million in business taxes and other sundry taxes. A note on branch closures ...
She asked if the officials came empty handed. Recovery of money shows there was actionable intelligence, she said, adding the searches happening on Friday too were based on such inputs. On Thursday, Directorate General of GST Intelligence (DGGI) said it recovere...
section of the country, to make sure that there is parity among taxpayers. Its applicability is decided on the basis of residential status, wherein the tax is levied on the global assets of the resident Indians. As against, Non-Resident Indians (NRIs) are charged on the assets held in ...