Input Tax Credit is the backbone of the GST regime. GST is nothing but a value added tax on goods & services combined. It is these pro
In GST, credit will be allowed for almost each penny of tax paid on inward supplies.
ITC is critical for the competitiveness for industry. trade and services.
Goods and Services Tax is a comprehensive, multistage, and destination-based tax that has subsumed almost all the indirect taxes. In this article, we discuss the background of GST.
GST is the tax that amalgamates various Central and state taxes into one which aims to build a common market in India & also avoids paying tax in multiple stages.
GST is applicable on GTA and not on transport owners. When a consignment note is issued the lien on goods has been transferred to the transporter and the transporters become responsible for the goods until delivered to the consignee.
What is the process to handle the ERP scenario under GST E-Invoicing where sales accounting entry is posted in the books but IRN generation has failed due to an IRP validation error? Let us discuss.
1. What is an E-Way Bill?E-Way Bill is an electronic way bill for movement of goods which can be generated on the E-Way Bill portal i.e. www.ewaybillgst.gov.in....
Goods and Service Tax on Job Work
The reference of GST was first made in Indian Budget in 2006 by Mr.P Chidambaram as a single centralised indirect Tax in which tax is to collected by centre and then it is to be distributed between centre and States.This
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