AUSTRALIA’S GOODS AND SERVICE TAX SYSTEM-HOW IT WORKS- A BRIEF SNAP SHOT
The Goods and Service Tax came in to operation with effect from 01/07/2000.
Basically it’s an indirect tax being collected by the Federal Govt. and handed to States.
GST Brief Overview:
In order to determine whether GST applies to a particular situation or not, one should really know answer to the followings:
Merely passing on the clauses and / or sections are not enough.
Categorisation of Supplies
Basically supplies have been classified into four categories:
GST Free; and
Supplies which are out of the scope of the GST system
What is Taxable “Supply”?
A body corporate, incorporated outside India (including a fi..
Compostion Levy-Scheme Eligibility: A registered perso..
Effective from 1st day of October, 2013- The person respo..
The Provisions of Chapter X-A of the Income Tax Act, 1961, r..
Companies (Name Availability) Rules, 2011 In exercise of ..