WebIRAS-OECD Regional GST/VAT Conference (May 2013) Taxing cross-border supply of services and intangibles . Case Studies . Technical Summary of discussions (Naoki Oka 1) … Web1. Late submission penalty - A penalty of $200 will be imposed for every completed month that a GST return remains outstanding. The maximum penalty for each GST return is $10,000; and. 2. Late payment penalty - A penalty of 5% of the unpaid tax will be levied. If payment remains unpaid after 60 days, an additional 2% of the tax unpaid will be ...

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WebThe IRAS has updated the e-Tax Guide GST: Transfer Pricing Adjustments on 1 June 2024 to make amendments to the administrative concession for TP adjustments under certain … WebTime of Supply under the GST Law means the event when the liability to pay tax on supply of goods or services arises. The time of actual supply of goods or services and time of … grass roof technology

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WebThe time of supply of services is as follows: Section 13 (2) (a) - Invoice is issued in a timely manner. Section 13 (2) (b) - Invoice not issued in a timely manner. Section 13 (2) (c) - Residual Cases. The earlier of the following dates: the date of issue of invoice by the supplier; or. the date of receipt of payment. 3. WebGST: Time of Supply Rules 1 1 Aim 1.1 This e-Tax Guide explains the general rules governing the time of supply1, as well as the special time of supply rules2 applicable to exceptional … WebThe business must register for GST within thirty days from the time it is deemed liable. You may also choose to voluntarily register for GST. Approval for voluntary registration is at the discretion of the IRAS Comptroller. Once approval is given, you must remain registered for at least two years. grass roof for tiki bars