Input Tax Credit (ITC) is reversed on the discount received through a credit note. Impact of GST on Mobile Phone Prices The shift from the old tax regime (VAT) to GST has significantly impacted mobile phone prices. Here are some key changes: Latest Updates on GST and Import Duties for Mo...
CBEC sheds light on the GST applicability on the mutual services in a Joint Venture Undeniably, the GST registration has emerged as a solution to abridge legal as well as financial exigencies for all business forms, enhanced mobility of goods and has simplified the tax liabilities. All in all...
CBEC sheds light on the GST applicability on the mutual services in a Joint Venture Undeniably, the GST registration has emerged as a solution to abridge legal as well as financial exigencies for all business forms, enhanced mobility of goods and has simplified the tax liabilities. All in all...
Total Item Discount Amount is not coming in GSTR. Item Unit Of Measurement should show both the unit and description. Service item should be Nos. No customer billing name for stock transfer in GSTR. Microsoft Dynamics 365 Finance (10.0.1) GST offline tool format: GSTReturnsGovt.version.19....
In addition, a certificate signed by the designated person is required to confirm the applicability of the relief. Place of supply A supply will only be subject to GST if it is made in Malaysia. The place of supply of goods or services is where the supply is m...
What is the content of E-Invoicing under GST Applicability? The e-invoice draft has been made public and released in excel template by GSTN on August 20, 2019. The GST Council has approved the same with some changes on September 20 2019, at the37th meeting by the GST Council. In assoc...
Using Deskera Books, the invoice total amount will be automatically calculated after selection of the tax applicability Journal Entries Journal entries are the recording of any transactions that occur in business operations. Based on the accounting standards, all the transaction records are classi...
Under the said sub-rule, the value of corporate guarantee will be based on the determination by the tax officer (refer our article on the same here). Hence, the same will be applicable only in cases where value of supply as per (a) and (b) above does not apply. Applicability of ...
Recheck the transaction's tax applicability. CGST and SGST are applicable if the state code of the recipient and supplier at the Point of Supply (POS) is the same. If IGST applies, enter the "IGST" amount and mark the intra-state transaction as "Y" in exceptional circumstances ...
50/2018 - Central Tax for the applicability of TDS; – Valuation methodology in the case of TCS under the Income Tax Act; and – Definition of the owner of goods. • The CBIC has issued clarification regarding the GST rates and classification in the case of goods. • The CBIC seeks ...