Gst Registration in Vizag

Items and Services Tax or GST is really a consumption tax that is charged of all products or services sold within Canada, where ever your small business is located. Be subject to certain exceptions, every business have to charge GST, currently at 5%, plus applicable provincial sales taxes. A company effectively works as a realtor for Revenue Canada by collecting the taxes and remitting them with a periodic basis. Corporations are also allowed to claim the taxes paid on expenses incurred that report for their business activities. These are generally called Input Tax Credits.

Does Your company Should Register? Just before engaging in any kind of commercial activity in Canada, all business people must figure out how the GST and relevant provincial taxes connect with them. Essentially, all businesses that sell goods and services in Canada, to make money, have to charge GST, with the exception of the following circumstances:

Estimated sales to the business for 4 consecutive calendar quarters is required being under $30,000. Revenue Canada views these companies as small suppliers and they are therefore exempt.


The business activity is GST exempt. Exempt goods and services includes residential land and property, child care services, most health and medical services etc.
Although a small supplier, i.e. a business with annual sales below $30,000 isn't needed to file for GST, in some instances it can be good for do this. Since an enterprise can only claim Input Tax Credits (GST paid on expenses) if they are registered, companies, mainly in the launch phase where expenses exceed sales, may find they are in a position to recover a lot of taxes. This has to be balanced from the potential competitive advantage achieved from not charging the GST, plus the additional administrative costs (hassle) from the need to file returns.

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