You can record the relevant transactions for sale of fixed assets and view the details in GST reports and Balance Sheet . On this page ● Purchase of fixed assets ● Voucher for depreciation ● Sale of fixed assets ● View details in GST report ...
However, the export of goods is a zero-rated supply and, therefore, GST is applied at the rate of 0% on the sale of goods to the distributor in Japan. EXAMPLE 2 Happy Sdn Bhd does not produce specialised chairs. Therefore, where it receives orders for such c...
text (GST/HST clause) stating why a reduced GST/HST or zero GST/HST rate has been calculated. You can define different GST/HST clauses to be included on business documents per the type of document, such as invoice or credit memo. You do this on theGST/HST Clauses by Document Type...
13.Can I get tax-rate-wise break-up on GSTR-1 and other GST return forms? You can view the tax-rate-wise break-up in the Summary view ofGSTR-1andGSTR-3B. 14.How do I find out GST Liability and GST Input Credit? ●To know your GST liability and ITC, log in to theGST porta...
-Seeks to amend Notification 11/2021-Customs dated 01.02.2021 to amend AIDC rate (Agriculture Infrastructure and Development Cess) on Bourbon whiskey February 13, 2025 SEZ -Central Government re-notifies an area of 10.9368 hectares at Village Ognaj, Taluka Dascroi, District Ahmedabad in the State...
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As a Buyer, to calculate the GST on your goods, you must be familiar with the Net Price of the good and the corresponding GST rate that applies to that good (5%, 12%..and so on). GST Calculations Formula It is simple to calculate the GST using the formula given here: ...
Additionally, there is a “zero rate” for certain essential goods and services (e.g. exports). One Nation, One Tax: GST is based on the principles of value-added tax and applies to the supply of goods and services across the nation. It brings uniformity in the tax structure across ...
If the ship to address is, Karnataka and the shipping location is Tamilnadu, and then system checks for matching line in the GST configuration set-up and triggers the tax rate accordingly. • Place of Supply can also be defined for each GST Group. Place of Supply is critical in ...
There is a fixed GST rate of 12% on a mobile phone if you're buying a new smartphone. However, most of the smartphones and accessories come under the 85th Chapter of HSN. The GST rate on phone accessories is 18%. However, the GST rate changes according to the nature of the produc...