At Rayvat, we consider it our most important job to keep abreast with the tax structures and requirements of all the countries we provide outsourcing to.
In line with this, we invest a lot of time and energy in understanding the Goods and Services Tax (GST) that is levied on sale of all goods and services in Australia. Generally it is 10% of the total sale value.
A business can apply for input credit on GST paid for receiving goods and services as long as they are registered for GST, have a valid invoice of at least a minimum amount required to make the claim valid and they can prove that the goods and services are used for the business purpose. Before making a claim, one needs to ensure that the goods and services purchased can be qualified to apply for input credit as not all goods and services purchased will be qualified.
Australian government ensures that the taxpayers do not have to pay more taxes than they are due by placing the Cascading effect of taxation into practice. This is done by giving credit for GST paid on goods/services purchased and profit earned.
Consult with us for any query regarding GST Services.