Accounting

Input Tax Credit (ITC) is a mechanism in the Goods and Services Tax (GST) system that allows businesses to claim a credit for the GST they paid on their inputs and input services. This credit can then be used to offset the GST liability on their outward supplies (sales), reducing the amount of tax payable. […]

GST stands for Goods and Services Tax. It is a consumption-based tax levied on the supply of goods and services in many countries around the world. GST is a value-added tax, which means that it is applied at each stage of the production and distribution process but is ultimately borne by the end consumer. Here

Tax planning is the process of managing your financial affairs in a way that helps you minimize the amount of taxes you owe to the government within the boundaries of tax laws and regulations. It involves making strategic financial decisions and taking advantage of tax-saving opportunities to optimize your overall tax liability. Tax planning is

A Pty Ltd company, short for “Proprietary Limited” company, is a type of business structure commonly used in Australia and South Africa, but with slight variations between the two countries. In both countries, a Pty Ltd company is a private company with limited liability. Here are some key characteristics of a Pty Ltd company: Limited