By adding in a non skip person as a beneficiary of an otherwise GST trust planners could kick the tax bite down the road to the death of the non skip person. Lots of baby boomers are non skip ...

For purposes of determining the inclusion ratio, every individual is allowed a GST exemption (the base figure is adjusted annually for inflation). The amount is $13.99 million in 2025, $13.61 ...

Many people use a grandchild as a skip person, but a skip person does not have to be a family member. Any individual is eligible to receive a generation-skipping transfer as long as they are at ...

GST Registration: Every GST application other than made by a person notified under sub-section 6D of section 25 who has opted for Aadhaar authentication and is identified based on data analysis ...

A generation-skipping trust (GST) allows people to leave assets to grandchildren or other people at least 37.5 years younger; it also can reduce estate taxes.

For GST tax purposes, a loan to a beneficiary who’s a skip person from a non-GST tax exempt trust would avoid GST tax on a taxable distribution unless and until the note is forgiven.

As per them, the Centre wouldn’t be issuing official numbers for the month of July also. Notably, the GST revenue has been lower than April’s record high numbers of Rs 2.10 lakh crore in May ...

No GST when residential unit rented to private person Government clarified on Friday that the residential units rented out to private persons for personal use will ...

In the case of a taxable distribution, the taxable amount is the value of the property received by the transferee reduced by any expense incurred by the transferee with respect to the GST tax ...