Who is online?
In total there are 7 users online :: 0 Registered, 0 Hidden and 7 Guests None
Most users ever online was 44 on Wed Dec 06, 2023 3:30 am
Latest topics
Statistics
We have 352 registered usersThe newest registered user is molifar
Our users have posted a total of 570 messages in 139 subjects
Search
For the Purpose of Business - What does it mean?
Page 1 of 1
For the Purpose of Business - What does it mean?
An activity qualifies for business purpose if:-
1. It is a serious undertaking or work earnestly pursued
2. It is pursued with recognizable continuity
3. It is conducted in a regular manner and on sound and recognized business principles (business-like nature);
4. It is predominantly concerned with making supplies for a consideration
5. It is making supplies of a kind commonly made by commercial organizations.
6. Examples of non-business activity are holding of shares, supply of services by employees under contract of employment and hobbies.
7. The facilities and services provided by a club, association, management corporation or other organisation is treated as a business activity
8. The admission of persons to any premises for a consideration is also regarded as a business activity.
1. It is a serious undertaking or work earnestly pursued
2. It is pursued with recognizable continuity
3. It is conducted in a regular manner and on sound and recognized business principles (business-like nature);
4. It is predominantly concerned with making supplies for a consideration
5. It is making supplies of a kind commonly made by commercial organizations.
6. Examples of non-business activity are holding of shares, supply of services by employees under contract of employment and hobbies.
7. The facilities and services provided by a club, association, management corporation or other organisation is treated as a business activity
8. The admission of persons to any premises for a consideration is also regarded as a business activity.
Similar topics
» Input Tax (Passenger Car for business purpose)
» Registering a Business for GST
» Ecommerce Business
» Registering a Business for GST
» Ecommerce Business
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum
|
|
Fri Jul 03, 2015 9:34 am by joseph
» Industrial Diesel
Fri Jul 03, 2015 9:11 am by joseph
» ICT industry
Fri Jul 03, 2015 9:10 am by joseph
» Input Tax (Passenger Car for business purpose)
Mon Jun 29, 2015 5:25 pm by joseph
» Conditions to Claim Input Tax
Mon Jun 29, 2015 3:12 pm by joseph
» Additional industry code
Sun Jun 28, 2015 5:53 pm by joseph
» Sales Commisions
Fri Jun 26, 2015 7:44 pm by Poon1
» Advance payment for services not rendered yet
Thu Jun 25, 2015 4:13 pm by joseph
» Turnover Below RM500,000 subequent to GST registration
Wed Jun 24, 2015 6:16 pm by joseph
» Consigment Sales
Wed Jun 24, 2015 6:00 pm by joseph
» GST Accounting Entries
Tue Jun 23, 2015 10:21 pm by joseph
» Advance payment received from Customer
Tue Jun 23, 2015 5:45 pm by joseph