the total cost becomes ₹105. Upon adding ₹50 in value to the product, he sells it for ₹155. The GST on ₹155 is ₹7.75, but he can claim an input tax credit of ₹5 for the GST paid on raw materials. Therefore, the net GST liability of the manufacturer is ₹2.75...
Steps for calculating the value on which GST is to be charged in an invoice 1. Determine the price of the goods or service supplied 2. Add any additional charges, such as commission, packing 3. Add any other tax applicable on the supply, other than GST 4. Deduct discount shown in the...
Indirect taxes have different names in different countries or regions. The amount of tax charged depends on the purchase price, as tax levied is a percentage of the cost to purchase. Here are a few examples of indirect taxes: Value-added tax (VAT):VAT is a type of indirect tax that appl...
Whenpreparing your shipment, the air waybill and the commercial or pro forma invoice are two key documents required to import to Singapore. It is essential that shippers provide highly detailed documents, whether it’s a commercial or personal shipment, as duties are charged based on the type of...
begin with, much more common. Many are content to just bring in a little extra hobby money to augment the household income . But if it were all they had to put meatballs on the table and pay the bills, you might see more unwillingness to settle for “what everyone else is pricing at...
This blog provides more information about FASTag, including how it works, how to purchase it, how to recharge it, and much more. Understanding the FASTag Technology FASTag uses a special sticker called an RFID tag that you stick on your vehicle’s windshield. This tag has a unique number...
Reward Seat bookings on Qatar Airways4, Etihad Airways5and Singapore Airlines6operated flights, will incur a carrier charge. An overview of the carrier charges applicable to Qatar Airways, Etihad Airways and Singapore Airlines Reward Seats is set out in the tables below. ...
Airport lounges can be a welcome haven for the airline passenger and the flying experience starts very much on the ground. Access to an exclusive lounge can separate you away from the crowds at a busy airport terminal and offer plush, all-inclusive facilities. ...
How much GST on medical sector? Evidently, one can notice the positive impacts of GST in all the spheres of our economy. Besides the ease of doing business, GST regime has also optimized the scenario of public services. In this context, we must forget the positive impact of GST registration...
How much GST on medical sector? Evidently, one can notice the positive impacts of GST in all the spheres of our economy. Besides the ease of doing business, GST regime has also optimized the scenario of public services. In this context, we must forget the positive impact of GST registration...