The discount is mentioned on the invoice. 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 ha
2. Does GST on UPI payments increase transaction costs? Yes, GST on UPI payments can lead to an increase in transaction costs for merchants. Payment aggregators charge service fees (Merchant Discount Rate), which are planned for an 18% GST, which may add to the overall cost for merchants....
1.Key Areas of GST – Impact on Product Design A. Basics of GST: a. Proposed GST: • Goods and Service Tax (GST) is an indirect tax levied on supply of goods or services or both. • It is a destination/consumption based tax levy which is payable in the state in which the ...
This topic lists the important FAQ on GST, especially related to GSTR-1, unregistered dealers, HSN/SAC, tax calculations, invoicing and printing, cash discount or trade discount, GST features, GST calculation, licensing and migration, and others. ...
Interest rates, inflation figures, GDP are the main variables; however other economic indicators that provide direction regarding the state of the economy also have a significant impact on the movement of a currency. These would include employment reports, balance of payment figures, manufacturing ...
The Impact of ACA Requirements on Personal Taxes Charitable Gifts: Tax Implications & Rules Original Issue Discount: Definition & Taxation Refundable & Non Refundable Tax Credit | Definitions & Examples Tax Classification for LLC | Structures & CorporationsCreate...
MRP includes all the taxes and sellers are not liable to charge more over and above the mentioned price on the products. Manufacturers and sellers are only allowed to sell at a lesser price than MRP and offer a discount on MRP for particular products. ...