Taking classification or claiming the exemption when not available is a disaster in waiting compoiunded by passage of time.
Make GST fair & Trasparent
UAE VAT going to come from 1st January 2018. Professionals have a chance to serve and delight their clients.
Value of land as we understand cannot form part of the GST value. Part examination of issue in this article.
Understanding exemption of 50K to gift to employees by employer.
Exemptions not available can if claimed destroy businesses as the top line along with interest and penalties can be between 10% to 36% of TOPLINE!!!
90% of goods are easy to classify. In case of the rest there maybe some difficulties. This article is for arriving at the appropriate classification.
The GST liability for supplies after 1st July is applicable for all the contracts where the exemption under ST got omitted due to law itself being changed.
Presently the GST challenges include that on classification which may take some months to become clear.
Classification of goods and services which have come intot the tax net in GST is a big challenge. Some clarity tried to be provided.
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English