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VAT Registration – KSA ( Saudi Arabia)

Category : | Author : MasterGST
Following a public consultation in July and August, the Kingdom of Saudi Arabia (KSA) released final VAT regulations through the tax authority (GAZT) website on 29 August. This follows an earlier consultation process and the publishing of a domestic VAT law in July. The regulations, the law and the finalized GCC Framework Agreement form the … "VAT Registration – KSA ( Saudi Arabia)"
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E-Invoicing and QR Code for B2C Invoices under GST

Category : | Author : MasterGST
What is e-invoice? An electronic invoice (e-invoice) contains data from the supplier in a structured format that the buyer’s financial system can automatically recognize, without requiring manual data input from the administrator. A digital invoice is an invoice that can be viewed and processed digitally. Under Goods and Services Tax (GST), companies with a turnover … "E-Invoicing and QR Code for B2C Invoices under GST"
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Procedure for claiming the refund amount in cases where the original claim of refund was rejected (in part/full) in RFD-06 but subsequently received the favourable order in appeal or any other forum

Category : | Author : MasterGST
Background: In case appeals against the rejection of refund application, the credit amount is not being re-credited to the credit ledger, until the appeal is finally rejected. And  Currently the process of appeal is manual. Procedure: The regd. person shall file a new refund application for the same period under “Refund on account of assessment/provisional … "Procedure for claiming the refund amount in cases where...
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Persons who had inadvertently filed the “NIL” Refund application (RFD 01/01A) under any category, can file a new refund application for the same period. Subject to the conditions and procedure prescribed.

Category : | Author : MasterGST
Conditions: If the claim is for refund of the accumulated input tax credit on account of : a. Exports without payment of tax b. Supplies to SEZ Unit/SEZ Developer without payment of tax c. Accumulation due to Inverted tax structure and the supplier has not filed any refund application for the future period under the … "Persons who had inadvertently filed the “NIL” Refund application...

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