Invoicing forms a crucial function when it comes to the purpose of execution of a transaction. On every outward / inward supply, an invoice is issued by the supplier i.e. the person who is making the sale. is to be derogatorily issued if the value of supply is more than Rs.200/- and is the basis

Every registered supplier of taxable goods and services can collect tax, except those who have registered under the composition scheme. The collection of tax is done at the time of supply of Goods. The taxable person must prominently indicate the GST amount on tax invoices. GST is charged on the value or selling price of

GST cess is levied on intra-state supply of goods or services and inter-state supply of goods or services to provide compensation to the States for loss of revenue due to implementation of GST in India. As per the Goods and Services Tax (Compensation to State) Act, 2017, GST compensation cess would be levied for a

The GST scheme consists of different slab structure under which the proposed goods and services will be taxed accordingly. The five slabs currently available are 0%, 5%, 12%, 18% and 28%.

India is a federal country where both the Centre and the States have been assigned the powers to levy and collect taxes. Both the levels of Government have distinct responsibilities to perform for which they need to raise resources. Central GST or CGST – To be charged by the central government. State GST or SGST

GST is one indirect tax for the whole of India that makes India one unified common market. GST is a single tax on the supply of goods and services, right from the manufacturer to the consumer. Taxes paid at each stage of trade will be available in the subsequent stage of value addition as input

Tax is a mandatory financial charge or some other type of levy imposed upon a taxpayer (an individual or other legal entity) by the Government in order to fund various public expenditures. Taxes contribute to the major source of revenue for a country. The money collected as tax is utilized for the growth and development