Migrate to Zoho Books Reports Web Tabs Payroll Management GST TDS (Tax Deducted at Source under Goods and Services Tax)is a provision under Indian GST law where the recipient of goods or services must deduct a specified percentage from the payment to the supplier and remit it to the tax depa...
• Time of Supply for Associated Enterprises: ➢ The date of entry in the books of account of the recipient ➢ The date of payment Relevance of Time of Supply in product design • Time of Supply is relevant for creation of General Ledger entries. It determines when Payable Account ...
View Multiple Reports of different sections in one go for easy comparison. Drag, Maximize and Minimize reports as per your needs to view Comparisons side by side GSTR 9C View auto-populated details from GSTR 9 Easy and Keyboard Friendly data entry Get a Clear Comparison of Books data ente...
December in India marks the chill of winter and vibrant Christmas celebrations. For businesses, it’s a critical period of year-end planning, balancing festive sales with closing financial books and meeting GST compliance deadlines. Companies strategize to optimize inventory, finalize budgets, and prep...
-Changes in the system to request for Provisional assessment of bills of entry by Importers – reg. January 31, 2025 Income Tax -Order under section 138(1)(a) of the Income-tax Act, 1961 January 31, 2025 GST -Information received from Ministry of Civil Aviation (MoCA) with respect...
If a taxpayer has rejected a part of goods purchased from the supplier and has issued a debit note, such entries are also important to take into account while reviewing the yearly books of account. If the supplier has not accepted the debit note, the taxpayer can reverse the entry to claim...
As is evident from the mechanics of SLB above, SLB results in taking the asset off the books of the lessee and results in upfront cash which could be used for paying off existing liabilities. Hence this does not impact the existing lines of credit the lessee may be availing. SLB can he...
Accounting entry issue on Import PO invoicing, along with bill of entry (BOE) feature, when an invoice is posted with reference to product receipt quantity. TDS is not working for customers with TDS threshold enabled. Taxable value in the GSTR1 offline report does not match the invoice amou...
When India moved to the GST regime in 2017, companies had to transition the credit sitting on their books. So, the closing balance in the old tax regime would become the opening credit balance under GST. When India moved from the old indirect tax regime to GST, a one-time transition of...
No TDS shall be deductible on GST component of Invoice Recently the Central Board of Direct Taxes (CBDT) clarified that the GST paid on services will be excluded from the scope of TDS provisions when in the GST portion is shown in the invoice separately. Previously, CBDT had excluded the...