The Affordable Care Act makes it a shared responsibility of individuals, employers and government to ensure that as many people as possible have health insurance. The law does not require all U.S. employers to offer health insurance to their workers. Rat
What is SAC Code? SAC stands for Service Accounting Code, a unique six-digit code used to classify services under the GST regime in India. SAC codes, issued by CBIC, help in identifying and categorizing services for tax calculation, with the first two digits (99) representing the service ca...
Using the correct HS code and the right interpretation is of utmost importance, as usage of incorrect code may be considered by customs as non-compliance, misleading or misdeclaration – each of which comes with its associated penalties. Using the correct HS code can be quite tricky in ...
What is a Harmonized System (HS) Code? The Harmonized System classification is a six-digit standard, called a subheading, for classifying globally traded products. HS codes, also called HS numbers, are used by customs authorities around the world to identify the duty and tax rates for specific...
In the US, this system is known as the Harmonized Tariff Schedule of the United States (HTSUS). What does an HTS code look like? The first six digits are an HS code, and then the next two digits link to the sub-heading of the HS code, which establishes duty or tax rates for the...
Before diving into the 30% solar tax credit, it might be helpful to first understand what a tax credit actually means. What Is a Tax Credit? A tax credit allows you to subtract a specified amount of money from what you owe in taxes. ...
The fourteenth is the default alphabet‘Z’ The fifteenth digit“5”will be a check code, which can be a number or an alphabet. How to Apply for GSTIN? Getting a Goods and Services Tax Identification Number (GSTIN) involves a straightforward process. ...
A merchant identification number (MID) is a distinctive, numerical code that identifies a merchant to their acquirer.
What is a GTIN-13 code? The Global Trade Item Number (GTIN) or EAN-13 is a 13-digit code that identifies product units destined for a point of sale. It allows an item to be quickly recognized in a unique, global, and unambiguous way at a point in the logistics chain and thus to ...
If the TCJA is not renewed after 2025, many Americans will face tax increases. The Bottom Line The Tax Cuts and Jobs Act (TCJA) was a major tax code overhaul signed into law in 2018 by President Trump in his first term. TCJA cut taxes for shareholders and individual taxpayers alike. How...