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 has significantly impacted mobile phone prices. Here are some key changes: Lates...
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. ...
posting groups. For each combination, you can specify the GST/HST percent, GST/HST calculation type, and general ledger accounts for posting GST/HST for sales, purchases, and reverse charges. You can also specify whether to recalculate GST/HST when a payment discount is applied or received. ...
Follow up and monitor: Check that the customer has acknowledged receipt of the credit note and monitor its effect on our cash flow and financial statements. When all these steps are followed, it is possible to create a clear, precise accounting- based on compliance with relevant accounting and...
Rcom trading on a negative bias these days...there is a Head & Shoulder chart pattern on Daily Chart. Fundamental Analysis FOMC main points 21.08.2014 Information received since the Federal Open Market Committee met in June indicates that growth in economic activity rebounded in the second qua...
GST Returns, Advances received against a supply to be made in future Post sales discount under GST returns Procedures to assess credit note and debit note under GST Act Bills of Entry relating to Import under Goods and Service Tax (GST) ...
An email will be received to the GST CorpPass admin after his/her account is created. Follow the below steps to activate your GST CorpPass admin account, Click onwww.corppass.gov.sgthen on Services and Reset Password; Fill in your GST registration number, and CorpPass ID (e.g., 12345CP1...
GST on Advance Received from Customer if Turnover is more than Rs. 1.5 Crores You need to pay GST for any advance received from Customer for supply of goods or services, if the supply is not fulfilled in the same period. Provided the Turnover of your business is over and above Rs. 1.5...
Refrain from placing the same request simultaneously. In order to avoid this situation, update your billing system with the IRN number when received. You can send the request again if you still need to receive the IRN 2172 For intrastate transaction IGST amounts is not applicable for item - ...
GST refers to the Goods and Service Tax which is an indirect form of taxes that came into force on 1stJuly 2017. After launching this tax all others goods and service taxation became irrelevant in India. Practically,GSTis tax levied on goods and services which are received by the citizens ...