7.Which voucher types will show the warning message on mismatch in Central Tax and State/UT Tax while saving and/or printing? The warning message will appear when the transaction is recorded in the invoice mode of purchase, sales, debit note, credit note, and POS invoice. Such transactions ...
Several forms of indirect taxes exist which governments of diverse nations use as sources of funding. Some common ones include: Sales Tax: A sales tax is imposed on selling goods and services at the point of purchase. The rate of the tax may vary depending on the jurisdiction and the ...
Finally, the concern of s 9-5(1) is with an inquiry into the intention and purpose of the taxpayer, and this can be shown by the taxpayer producing contemporaneous evidence of intended use of a car for a purpose, such as in a board paper, a business plan, or another document, as we...
In the Party Details screen, the Place of Supply is prefilled with the party ledger state. If the Place of Supply is the same as your company states then the sales transaction is recorded as a local supply of services. To record the tax for local sales, you must use the CGST and ...
There is less room for errors or intentional omissions as all transactions are automatically recorded and verified. In addition, e-invoicing can help to reduce the amount of cash transactions, which are more difficult to track and verify for tax purposes. E-invoicing also provide real-time visibi...
Q. Is GST return filing mandatory in case of no invoicing/no business? Yes. GST Returns must be filed according to the GST law. GST return filing is mandatory, irrespective of whether or not any transaction has been recorded in a month. In case of non-filing of nil GST Returns, a lat...
``It is simply amazing that I'm able to do essential business functions such as invoicing, collections, and most importantly GST filing right on my mobile devices while I am on the move or sitting in a cafe enjoying my cup of tea. CaptainBiz Mobile App apart from being very rich in fu...
5B. Unbilled revenue at the beginning of Financial Year (+): Unbilled revenue which was recorded in the books of accounts on the basis of accrual system of accounting in the last financial year and was carried forward to the current financial year shall be declared here. In other words, whe...
Since the emphasis was on assuming the implementation at the last mile beside the experts, the opinions of retailers complying with GST and consumers who are indirectly paying it were considered. The existing framework gaps were recorded through 30 experts, 200 retailers, and 1000 customers. The ...
A GST-registered individual or firm can effectively claim the tax they paid on their inward supplies, inputs, or raw materials as a credit when they are paying taxes on their outward supply or sales of commodities. What is Net Input Tax Credit (ITC)?