How to adjust VAT on Bad Debts under UAE VAT Law? Introduction There could be some situations where a VAT-registered supplier, supplies goods or services to its customers. Thereafter the Customer has not paid (wholly or partially) within that period. However, that Read More
What is VAT De-registration ? Like registration, de-registration also an important procedure to be understand. Tax De-registration means de-activation of the registration and the VAT number of the taxable person. A taxable person registered under VAT can apply for Tax de-registration or Read More
Documents for GST Registration The documents required depend on the business or type of GST registration process. For example, a sole proprietor/ individual, a partnership firm, and a company must procure different types of documents for registration. Different types of documents requires to Read More
What is GST Registration Goods and Services Tax (GST) is a tax reform which indeed eliminates India’s major indirect taxes like Excise, Service Tax, and VAT. Furthermore as per the changes in the 32nd council meeting ,the businesses whose turnover exceeds Rs Read More
Relevant Activities under ESR (Economic Substance Regulations) in UAE The Regulations apply to companies and other business forms registered in the UAE, including in a Free Zone or in a Financial Free Zone, that carry out any of the Relevant Activities under Read More
Economic Substance Regulations in UAE The Economic Substance Regulations (ESR) issued by the UAE curbs harmful tax practices and closely tracks the global standard set by the OECD (Organisation for Economic Co-operation and Development). It applies to all companies established in the UAE. Read More
Offence and Penalties under GST in India What does penalty mean? The word “penalty” is not specifically defined in GST and so it takes the meaning from various judicial pronouncements and principles of jurisprudence. A penalty is a punishment imposed by law for committing Read More
Accounts and records in GST Goods and Services Tax (GST) is a tax reform which eliminates India’s major indirect taxes like Excise, Service Tax, and VAT. Every taxpayer registered under GST requires to keep and maintain all records at his principal place Read More
What is Virtual Accounting? An accountant is an indispensable part of any organization. But often it is seen that small business organizations cannot afford to maintain full-time accountant and bookkeeping professionals to manage their routine business works. An ideal alternative is the Read More
Tax Free Shopping in United Arab Emirates- VAT Refund From 18 November 2018, eligible tourists in the UAE will be able to request refunds on the Value Added Tax (VAT) incurred on their purchases while they are in the UAE. Only Read More