GST is the result of combining all central taxes, such as sales tax, excise duty, surcharges, cesses, state VAT, luxury tax, purchase tax, entertainment tax, and so on into a single tax. The Goods and Services Tax (GST) is a single tax, but given the sheer number of basic commodit...
Ensure that GST HSN code rates are included on invoices for all goods and services supplied, as this is a mandatory requirement for GST compliance. 7. Cross-Functional Collaboration Collaborate with departments such as finance, sales, and IT to ensure a coordinated effort in implementing HSN code...
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Yes, it is required; the specifics change depending on turnover. Four-digit numbers for B2B supply up to ₹5 crores, and six-digit codes for sales above ₹5 crores Who is Required to submit the 6-digit HSN code? Taxpayers having an Aggregate Annual Turnover (AATO) of ₹5 crores...
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Import clearance under high sea sales Import customs clearance procedures Import General Manifest (IGM) Importance of Bill of Lading Introduction to this web site. Is Airway bill a documents of title? Discussion Forum You can also share your thoughts about this article. ...
How to file bill of entry Manually. What is manual filing of Import Documents? How to file Bill of Entry on line? What is called Noting in bill of entry How to get exemption of Sales Tax under exports. What happens if overseas buyer not paid export bills discounted....
The Central Board of Indirect Taxes and Customs (CBIC) mandated the use of HSN Codes or SAC for goods, effective from 1 April 2021. This means that when you create sales transactions and add items that require tax, those added items must have the HSN Code or SAC associated with them. ...
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