there has been a uniformity in the taxation process. GST is a single tax but the commodities under GST are multiple. The Income Tax Department introduced the concept of HSN code to resolve any confusion and simplify the custom process
HSN code refers to the Harmonized System of Nomenclature that is accepted worldwide. It is a 6-digit code that classifies thousands of products. Check if theHSN codein the invoice is relevant to the product or service. A misrepresentation will show that the invoice is not genuine. 7 GST R...
The CGST tax rate will auto-populate (based on the universal HSN/SAC codes generally built-in software). Then, select the unit, quantity, and any discount/incentives. IGST or CGST & SGST for the selected goods/services will be automatically shown. STEP 6: Click to Create GST Invoice: If...
For example, if a product sells for ₹1,000 with an 18% GST rate, the total GST amount will be ₹180, split equally into CGST and SGST, i.e., ₹90 each. The seller collects ₹1,080 from the buyer, pays ₹90 to the Central Government, and ₹90 to the State Government...
Click here to know GST rate on Goods and Services GST Exemption list of goods and services Find HSN number or Service tariff code for GST GST registration guidelines Indian GST Laws How to export your goods? Migration procedures for existing VAT payers to GST online in India ...
Details of products to be provided in invoice Product description HSN code of goods or Accounting Code of services Quantity and unit of measurement Total value Taxable value Rate of tax for CGST, SGST, or IGST Amount of tax for CGST, SGST, or IGST ...
The Ship To and Bill From headers refer to the Customer and the Supplier information respectively. Step 4 – Incorporating the HSN Number, Product, and Tax into the GST Export Invoice Enter the Serial Number, Product, and HSN Code. List the Quantity and Unit Price for each item. Go to ce...
How to check the remaining balalnce in GSP account..?? what is the website for the same..? Surendran Kollerath:On 10 March 2014 Hi VS Pankar, Contact Export Inspection Agency to know more machinecraft:On 11 March 2014 Dear sir, We want to export our Goods:Description:Vacuum forming ma...
Item-Related Details:Include specifics on the service/goods, SAC/HSN code, total amount, GST rate, assessable amount, and total item value. Batch Number (if applicable):If items are moved in batches, include the batch number. Invoice Details:Capture assessable values and the total invoice valu...
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