Different GST Group and HSN/SAC Codes in Advance Payment and Invoices, Calculating GST with ARN Released on 26 Apr 2018 Important Notice to Customers We recommend that you contact your Microsoft Dynamics Partner before installing service packs or hotfixes...
Different Tax returns under GST Goods and Service Tax GST registration and returns filing procedures for PSUs and Government entities What is RETURNS in terms of Goods and Service Tax? Posts related to Import Export Training online free: How to import products of OIL SEEDS, MEDICINAL PLANTS and ...
If the taxpayer wishes to use a different foreign exchange rate, they would have to make a specific application to the director general of RMC for approval. There are instances where the GST legislation requires the value of supply to be based on the open market va...
You must use different tax codes for those transactions. The way that reporting codes are mapped to these tax codes and then selected in the report configurations varies, depending on your overall reporting requirements. For example, a report shows the transaction amounts on your invoices, de...
While the food industry saw a very different scenario after the GST, as many as 75 percents of the branding logos of packaged food products were disappeared. This is due to the 5 percent levy of GST on branded food products while exempting those with no particular branding. This has led ...
In the GST, the Centre and State levy a single tax on the manufacturing and sale of products. And the prices of products are likely to be less. When prices of products are low then consumption of products is going to increase and more consumption means more production. Therefore, the compa...
Indian businesses who export goods and services are considered as a zero-rated supply under goods and services tax (GST) - no GST is levied on such supplies. This implies that exporters aren’t required to pay GST on their exports, and they can claim a refund of the GST paid on input...
TCS to be calculated on Bill-to Customer instead of Sell-to Customer: In existing design, system is considering Sell-to Customer in sales document lines for fetching TCS Nature of Collection even if Bill-to Customer is different from Sell-to Customer,...
The GST rates that are applied depend on the HSN or SAC codes that are assigned to the goods or services. HSN: Go to Tax > Setup > Sales tax > HSN code. SAC: Go to Tax > Setup > Sales tax > Service accounting codes. You can assign HSN and SAC codes to products in the GST ...
The GST can be beneficial as it simplifies taxation, reducing several different taxes into one straightforward system. It also is thought to cut down on tax avoidance among businesses and reduces corruption. Are VAT and GST the Same? Value-added tax (VAT) and goods and services tax (GST) ar...