GST is designed to simplify tax collection by applying tax at multiple stages, only on added value, and at the point of consumption. Below, we’ll walk through these features to show how GST works across the supply chain, ensuring a fair and efficient tax process. 1. Multi-Stage Taxation ...
Every Union territory or state has a unique code. The first two digits of the GSTIN indicates the state code as per the Indian Census,2011. For example, 09 is for Uttar Pradesh, and 27 stands for Maharashtra. The next ten digits are the PAN number of the business house or the taxpayer...
For IMPS transactions between ₹1,001 and ₹1,00,000, the fee is ₹5 plus applicable GST. For IMPS transactions exceeding ₹100,000, the charges are ₹15 plus applicable GST. IMPS Transfer Time IMPS (Immediate Payment Service) operates 24/7, throughout the year, allowing account ...
I am from Manifest Import & Export Pvt Ltd which is based in Pune, Maharashtra. We have one doubt & need your help on this issue. Please help us to resolve below mentioned issue. We are buying Cashew Nuts from Tanzania & selling it to Canada. So Canadian buyer is issuing LC (at sigh...