GST in final accounts GST in final accounts, In the final accounts of a business, GST (Goods and Services Tax) is treat as follows: 1.Sales: The GST collected on sales is not consider as revenue, but rather a liability to be paid to the government. The total sales value should be record separately from… Read More »
Basics of GST Basics of GST, Goods and Services Tax, is a comprehensive indirect tax that was introduce in India on July 1, 2017, with the aim of simplifying the tax structure and eliminating multiple layers of taxation. Here are some key things one should know about GST: 1.GST is a destination-based tax: GST… Read More »
GST Compliance Checklist Excel Creating a comprehensive GST compliance checklist in Excel would require a detailed understanding of the specific compliance requirements and regulations in your jurisdiction. However, here’s a basic outline of what you can include in your GST Checklist excel: Visit for more information: https://www.gst.gov.in/ Registration: Check if your business meets the turnover… Read More »
GST charge on consultancy services GST charge on consultancy services Website link GST charge on consultancy services: Consultancy services in India are considered services and are subject to Goods and Services Tax (GST). The applicable GST rate for consultancy services depends on the specific nature of the service provided. Currently, the GST rates for consultancy… Read More »