Rate Type Which goods or services 22% Higher Cell phone services 17.5% Standard All other supplies of goods or services 10% Reduced Certain tourism services and accommodation 0% Zero Exports; certain imported goods; some food items, some agriculture and fishery inputs; computer equipment; some to...
“Can you imagine that for the last two days, four of my finance colleagues and some tax experts we have hired are only keying in codes for stationery items!” said the CFO of an automobile company. “Dual HSN codes have been published for pencil sharpeners, staples, paper or paperboard ...
Ensure you select the ledgers, and stock items predefined with the required GST rates. You can also define the required GST rate in the invoice. 14.How can I remove GST rates from the Stock Item master? You can remove the GST rates from theTax Rate Historyof theGST Detailsscreen in the...
9. Reconciliation of rate wise liability and amount payable thereon The table provides for the reconciliation of tax paid as per reconciliation statement and amount of tax paid as declared in Annual Return (GSTR 9). Under the head labelled ―RC‖, supplies where the tax was paid on reverse...
When defining the price of the item you can include the tax rate. This inclusive Tax Rate can assign during sale under two ways.. 1. Permanently at the time of Creating a Stock Items, 2. In Sale Invoice, selecting the option – Allow inclusive of tax for stock items to YES in F12:...