GST is a newly passed bill which calls for a common tax over the nation and just one single type of tax filtering ll the extra and indirect taxes. It will replace VAT, service tax and excise in every business that will have to mandatorily register under it. The cost of tax on all ...
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
The HSN code exists for every commodity across WCO member nations and is the same for all goods across countries. Depending on the type of classified goods, HSN numbers can vary in selected countries. In the following sections, we will discuss the HSN code list with the GST rate regulations...
If the recipient is not registered under GST and the invoice value exceeds ₹50,000, then the invoicing under GST should include the following additional details: Name and address of the recipient Delivery address Name of the State and State code GST Bill Example Format The format of a GST...
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What is GST? Meaning of GST: Multi-Stage, Value Addition, and Destination-Based Tax Example of GST How Goods and Services Tax (GST) Works? What are the Types of GST? History of GST in India: A Comprehensive Timeline Key Principles of Goods and Services Tax (GST) What are GST Rates an...
Understand HSN codes under GST with Tally Solutions. Learn their significance, structure, and use our HSN code finder for quick lookups. Explore now!
Running a business in India demands a lot of knowledge, caliber, and talent to retain customers. But that is not all that you need. To run a business, you or youraccountantalso need to thoroughly understand the Taxation system under GST guidelines. ...
What is a SWIFT/BIC code? SWIFT stands for “Society for Worldwide Interbank Financial Telecommunication”. It’s a decades-old financial network set up to make it easier to transfer money around the globe between member banks. SWIFT isn't owned by any one entity, but is run as a coopera...
It is a GST Identification Number or a GST Number. Breakdown of GSTIN The general structure of GSTIN be broken down into 3 parts, as given below 00 PANNUMBERS 1Z0 State code: The first two digits of the GSTIN consist of the state code (assigned to every state as per Indian Census ...