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GST registration is mandatory for businesses whose taxable profits exceed $1 million. For companies whose taxable profits don’t exceed this threshold, registration is not mandatory; you’ll have to consider whether registering is in the best interests of your business. What is GST Exemption?
GSTR-9is a return form filed annually by the taxpayers registered under GST.GSTR-9is basically a consolidated report of monthly/quarterly returns (GSTR-1, GSTR-2, GSTR-3B) filed by the taxpayer at the end of the year. It is also applicable on those taxpayers who are registered under ...
What is a tax table? What are back taxes? What can be tax-free? What is a tax consultant? What does no tax liability mean? What is a tax shield? What does tax threshold mean? What is a tax holiday? What is the federal gift tax? What is the Goods and Services Tax (GST)? What...
The rate forservice tax is 6%in Malaysia. Your business is required to pay SST if your total value of taxable services within 12 months exceeds the prescribed threshold, which is usually RM 500,000. Some services have a different threshold (for example, the threshold for operators of restauran...
Learn more about Concept of Reverse Charge mechanism in GST & this charge mainly more tax compliance and increased tax revenues. This article will explain about GST Reverse charge.
However, just because you have met a nexus threshold in a state does not mean that you are required to collect sales tax. Not all goods and services are taxable – and if the items that you are selling are not taxable, then you are not required to collect sales tax on those items. ...
The same registration threshold applies to nonresidents selling digital services to Canadian consumers. Some provinces require you to collect separate provincial taxes on top of the federal GST/HST. How to file and remit indirect taxes Before you collect any taxes from your customers, ensure you ...
Further, the threshold limit varies from one State/UT to another, depending upon the supply, i.e. whether the supplier is engaged in the supply of goods only, or services only or both. 8. Payment of Tax: Supplier can opt any of the two modes for making GST Payment: Electronic Payment...
The GSTT is assessed when the gift or property transfer is made; GSTs can occur before or after the death of the transferor. While still alive, the transferor can give the gift directly to the skip person; depending on the size of the gift, federal gift taxes may be due. Upon death, ...