GST laws mandate specific timelines for issuing invoices, revised bills,debit notes, andcredit notesbased on the type of supply. For goods, a GST tax invoice must be issued when the value exceeds ₹200. However, GST-registered suppliers must issue invoices upon customer request, regardless of ...
There are three different types of Good and Service Taxes (GST):-1. SGST - Good and Service Tax (GST) by States Government.2. CGST - Good and Service Tax (GST) by Central Government.3. IGST - Good and Service Tax (GST) on International Goods.These all are nothing but Central excise...
What are the three types of server virtualization? Full virtualization Para-virtualization Container-based virtualization Full virtualization uses a hypervisor to create and manage virtual machines (VMs) on a physical server. Each VM is totally independent and runs its own operating system. As ...
Still, many items like electricity, real estate, alcohol, petrol are out of the GST ambit. States are facing a revenue loss as VAT constituted the highest percentage of revenue for the states which is now subsumed under the GST. On the other hand corporate tax which constitutes higher revenue...
Types of indirect taxes 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: ...
The ultimate responsibility for paying the VAT and sales tax lies on the consumer. But while the two may seem similar, there are some inherent differences between them. For instance: When it is added: VAT is added at every step of the supply chain while sales taxes are added at the ...
Types of GST Returns (based on the New GST Law) There are 3 categories that broadly classify the GST returns. Here is a comprehensive list of the types of GST Returns: Regular Businesses Easy GST Filing with Deskera Try for Free Today ...
In some countries, this type of tax is also referred to as Value-Added Tax (VAT), even though there are subtle differences between the two types of taxes. GST Versus VAT Even though these two taxes seem alike, they are different. While VAT is a consumption tax that is levied on ...
What is the GST Refund Process? GST Refund Time Limit What situations lead to refund claims? What are Steps to Submit a Refund Pre-Application Form Refund Process of IGST on Export of Goods (with tax payment) Steps to Apply in Form RFD-01 for Various GST Refund Claims ...
Just starting out or need more info on POS systems? here are the basics to help you decide on the right POS set up for your hospitality business.