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Advance Ruling (GST)

A binding ruling obtained from the GST Authority for Advance Rulings on the applicability of GST to a specific transaction before it is undertaken.

Related terms

  • Accounts Payable (AP)

    Amounts a business owes its suppliers for goods or services already received but not yet paid for.

  • Adverse Opinion

    An opinion stating that the financial statements do not give a true and fair view, issued when misstatements are both material and pervasive.

  • Annual Return (Form MGT-7)

    A yearly filing with the Registrar of Companies containing particulars of the company's shareholding, directors and other statutory information as at the close of the financial year.

  • Arm's Length Price

    The price that would be charged in a comparable transaction between unrelated parties — the benchmark against which a related-party transaction's pricing is assessed.

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