Introduction Services offered through information technology and an electronic network in India fall under the GST framework. These digital services possess a formal name - Online Information Database Access and…
Understanding how taxes work can be tricky, especially with the IGST Act. This law deals with where goods and services are supplied under GST in India. GST is like a…
Introduction Goods and Services Tax is a combined tax imposed by both the central and the state governments. The tax amount is shared by both parties based on the volume…
Introduction Identification of the place of supply of goods or services is paramount when determining the nature of the payable tax under GST (Goods and Services Tax). When the goods…
Introduction Today, our world is interconnected more than ever. In such a scenario, telecommunication services connect people and companies across geographical borders. Regarding the taxation of these services, the place…
Introduction GST, an acronym for Goods and Services Tax, is a destination-based system. Determining the place of supply (POS) becomes integral when deciding the taxation rates. POS is pivotal, as…
Harmonized System of Nomenclature (HSN) codes offer a uniform item classification system essential to global trade and business. Adopted by numerous nations globally, these codes enable smooth cross-border communication and…
Calculating Goods and Services Tax (GST) on services is complex and varies according to the kind of service and the applicable GST rate. In contrast to products, where the computation…
An essential component of financial literacy is comprehending the intricacies of Goods and Services Tax (GST) rates for services. Various services fall under different tax categories under the consumption-based Goods…
Stakeholders in international trade, governments, and enterprises can benefit from adopting and using Harmonised System of Nomenclature (HSN) codes. Products can be categorised systematically and widely using HSN codes, a…
Introduction Choosing the proper tax computation method is essential for individuals and organizations. Of the different strategies that are accessible, exclusive tax computation is impressive and has unique ramifications. Understanding…
Introduction The HSN code or Harmonized System Nomenclature is a globally accepted six or 8-digit product classification method used for trading purposes. It is maintained and developed by WCO, or…
Introduction Accounting accuracy holds a key place in managing work contracts and projects. By understanding the pros and cons of financial management, one can steer clear of the common pitfalls…
Introduction The supply value under the Goods and Services Tax is levied based on the provisions of u/s 15 CGST Act (2017). It is important to determine the correct value…
Introduction The role of item master is diverse at multiple levels regarding a company’s business strategies and tactics. By providing clean and accurate details of data, it helps manage several…
Introduction One of the most crucial aspects of financial and accounting practices for businesses is tax invoice valuation. The accurate valuation of goods and services on a tax invoice is…
Introduction The Harmonized System of Nomenclature (HSN) designations serve as a standardized product classification system essential to international trade. The World Customs Organization (WCO) created and maintained HSN codes with…
Goods and Services Task or GST is one comprehensive tax that covers several other taxes and helps reduce financial burden. With the implication of this new indirect tax, there were…
An individual running a business in India who is registered or needs to register under the Goods and Services Act is a taxable person. You are considered a taxable individual…
The Goods and Services Tax, or GST, is imposed on goods and services sold in India. The implementation made it a comprehensive indirect tax across India. GST registration is a…
The indirect tax, or GST, on the sales of goods and services in India was implemented on July 1, 2017. It resulted in the reduction of several other indirect taxes.…
Understanding taxability means learning whether the item is exempt, not under GST, or excluded from the valuation of goods and services. Since the scope of taxable items has widened under…
The Goods and Services Tax, or GST, is hailed as one of the biggest tax reforms in our country. The tax was first introduced on July 1, 2017; since then,…