GST on Free Samples, Supplies and Buy One Get One Free Offers

Festival season is around the corner, sales promotional offers will be a common sight in the market place. More often, promotional schemes are used as effective sales strategy to attract the customer to buy their product.  Among the various promotional offers, Buy One-Get One Free,…

Are you GST ready yet?

Get ready for GST with Tally.ERP 9 Release 6

58,078 total views, 34 views today

Taxes Eligible for ITC on Opening Stock of 1st July

GST, a comprehensive indirect tax system introduced on 1st July, 2017, has subsumed a host of Central and State levied taxes and has transformed the entire nation as ‘One Nation –One Tax –One Market’. The convergence of taxes into a single indirect tax system is…

Are you GST ready yet?

Get ready for GST with Tally.ERP 9 Release 6

38,283 total views, 29 views today

How to Manage Advance Paid for Supplies Attracting Tax on Reverse Charge

We have discussed the scenarios in which reverse charge is applicable in our previous blog . In these scenarios, when recipients make advance payment for supplies on which they are liable to pay tax on reverse charge, they will also have to pay tax on…

Are you GST ready yet?

Get ready for GST with Tally.ERP 9 Release 6

39,855 total views, 39 views today

Your Checklist for Claiming Input Tax Credit (Downloadable)

Input tax credit is a critical component of compliance under GST. While input tax credit is available on all inputs used in the course of business or for furtherance of business, certain conditions have been laid down for claiming the input credit. Also, input tax…

Are you GST ready yet?

Get ready for GST with Tally.ERP 9 Release 6

131,395 total views, 103 views today

Handling Reverse Charge Scenario of Import Supplies in Tally.ERP 9

In this blog, we will discuss how to handle import of services and import of goods, in GST-ready Tally.ERP 9 Release 6. Topics covered What does the GST law say? Import of services under GST How to handle import of services in GST software? Import…

Are you GST ready yet?

Get ready for GST with Tally.ERP 9 Release 6

39,152 total views, 32 views today

Watch who you Buy from – 3 Types of Suppliers

In the GST era, a business will broadly be classified under two brackets – registered and unregistered. Within the registered bracket, there will be two possibilities – either the business may be a regular dealer, or under composition scheme. Assuming that you are a regular…

Are you GST ready yet?

Get ready for GST with Tally.ERP 9 Release 6

36,014 total views, 62 views today

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