Set off in GST Set off in GST refers to the process of adjusting the tax liability of a registered person by utilizing the input tax credit (ITC) available to them. Input tax credit is the credit that a registered person can claim for the GST paid on their purchases, which can set off… Read More »
If We Make Cash Sales, Should We Issue a Tax Invoice for GST? When running a business, it’s essential to understand your tax obligations, especially under the Goods and Services Tax (GST) regime. One common question for businesses making cash sales is: Should we issue a tax invoice for GST? The answer is yes, let’s… Read More »
GST on new purchase of vehicles GST on new purchase of vehicles, The Good and Service Tax on the purchase of vehicles can be claim as input tax credit by registered businesses. Here are the ways to claim the GST on a new purchase of vehicles: 1.Ensure the supplier is register for GST: To claim… Read More »
Can a non-GST registered company issue a tax invoice A non-GST registered company is one that has not obtained GST registration, either because its turnover is below the threshold limit or it falls under the exempt category. The question of whether such a company can issue a tax invoice depends on the nature of its… Read More »
