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...
TDS calculation under GST returns 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) Invoices pertaining to ...
The CGST tax rate will auto-populate (based on the universal HSN/SAC codes generally built-in software). Then, select the unit, quantity, and any discount/incentives. IGST or CGST & SGST for the selected goods/services will be automatically shown. STEP 6: Click to Create GST Invoice: If...
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. ...
- Quick and easy discount calculation - Completely working in offline mode. No need for the internet. What’s New Version History Jan 21, 2025 Version 4.2.0 Thank you for using VAT, GST & Discount Calculator. In this version, - Fixed some minor design issues. ...
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. ...
Discount applied after an invoice has already been produced The Importance of Credit Notes in Business A credit note records a seller’s due amount reduction from a buyer. These may occur for several reasons: Overpayment by the buyer: A credit note or refund can be given to the buyer when...
This app offers you rate, interest, discount and salary calculation. All of this can require complicated mathematical flows. Most of the time, results are so important. You don't want to make a mistake. You can complete this process easily in this app. Select your whenever you want and th...
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) ...
EXAMPLE 9 Happy Sdn Bhd provides repair services at a 20% discount to its group company. The group company is not a GST registrant. On the basis that the group company is not a GST registrant and therefore not entitled to claim the input tax credit, the value ...