Latest Articles

In this article, we shall cover the below mentioned points: Notification 37/2017 – Central Tax (Rate) which is related to Applicability of GST Rate on Leasing of Old / Used Vehicles Notification 08/2018 – Central Tax (Rate) Which is related to Sales of Used / Old Motor Vehicles Rule 32(5) of CGST Rules, 2017 which is related to Applicability of GST on sale of Used Goods (Including Person dealing in Sale & Purchase of Old…
Section 17 of CGST Act, 2017 read with Rule 42 & 43 of CGST Rules, 2017 are applicable when Input Tax Credit is claimed for the supplies which are being used for the purpose of business, for the supply of Exempt Goods or services and for the supply other than business purpose. In such case, Input Tax Credit can not be claimed fully as such corresponding expenses are incurred for supply of exempt goods or…
VAT Refund scenario generally exists where the industries are in zero rated VAT Rate slab or at the inception stage of company where generally expenses or capex are incurred till operations start full fledge. A Taxable Person may claim a refund of the amount of excess Input Deductible Tax (VAT) over Output VAT. KSA Regulations specified certain circumstances which is mentioned below under which VAT Refund can be claimed: Upon filing a Tax Return for…
Education Sector is a very important sector for any country. Under the Common framework of GCC VAT Agreement, it is stated to make education sector either Exempt or Zero Rated. Based on this common framework, State of GCC can make Education Sector as Exempt or Zero Rate of Tax. The Kingdom of Bahrain has opted to make Education Sector Zero Rated under the VAT regime. The advantage to have Goods or Services or Both under…
1.We have analysed the impact if VAT on Healthcare Service. Under the Common framework of GCC VAT Agreement, it is stated to make Healthcare sector either Exempt or Zero Rated. Based on this common framework, State of GCC can make Healthcare Sector as Exempt or Zero Rate of Tax. The Kingdom of Bahrain has opted to make Healthcare Sector Zero Rated under the VAT regime. The advantage to have Goods or Services or Both under…