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GST Calculator – Calculate Your GST Amount through GST Formula

Posted on: November 22, 2019 | Last modified on: February 14, 2023

What is GST? What are the 3 types of GST Collected by Government Advantages of GST Calculator What is GST calculator GST rates Formulae for GST calculation How to calculate GST using GST Formula? Inclusive GST calculator Examples of GST Calculations with Formula FAQs What is GST? GST is an Indirect Tax which has replaced many Indirect Taxes in India. The Goods and Service Tax Act was passed in the Parliament on 29th March 2017. The Act came into effect on 1st July 2017; Goods & Services Tax Law in India is a comprehensive, multi-stage, destination-based tax that is levied…

GST Rate Finder

Posted on: November 22, 2019 | Last modified on: June 28, 2022

Introduction GST Rate List GST Rate Calculator GST Rate Finder Introduction For any business to conduct its operations in a GST compliant fashion, it is important to be aware of the HSN / SAC codes of the goods and services that it deals in, and also the corresponding GST rates. Given the extensive list of goods and services which have been classified as taxable supplies under GST, it may not be feasible for a business, at least in the transition phase, to operate by committing the rates and codes to memory and use them appropriately while raising a GST invoice.…

GST Calculator Software

Posted on: November 19, 2019 | Last modified on: May 23, 2022

Goods and Services Tax is an indirect tax that has been levied on the supply of goods and services that is on every value addition. Today, every business is using one or the other GST calculator.

Interest Calculation in Tally.ERP 9

Posted on: November 27, 2019 | Last modified on: January 20, 2022

What is Interest? Break down of interest rate How to activate simple interest calculation in Tally. ERP 9? Learning to pass an entry and see how interest calculation feature works in Tally.ERP 9 Benefits of calculation of interest with Tally.ERP 9 What is Interest? Any charge for the privilege of borrowing money and expressed as annual percentage rate (APR) is referred to as Interest in dictionary of business. It can also refer to as the amount of ownership a stock holder has in a company, usually expressed as a percentage. Break Down of Interest Rate Interest can be broken down…

Accounting Rate of Return

Posted on: December 5, 2019 | Last modified on: December 13, 2021

Definition of Accounting Rate of Return Accounting Rate of Return Formula Example of Accounting Rate of Return How to Choose Project Based on ARR projection Advantages and Disadvantages of Accounting Rate of Return Definition of Accounting Rate of Return Accounting rate of return (ARR) is commonly known as a simple rate of return which focuses on the project’s net income rather than its cash flow. It is one of the oldest evaluation techniques. In its most commonly used form, the accounting rate of return is measured as the ratio of the project’s average annual expected net income to its average…

Input Tax Calculator

Posted on: November 22, 2019 | Last modified on: August 24, 2021

Input Tax Credit Calculation Tax Calculation under GST How is Input Tax Credit Calculated? Your Input Tax Calculator – Invoice Matching Mechanism Input Tax Credit Calculation Input Tax Credit is the soul of GST. The reason behind the same is that, in the GST era, businesses will be allowed avail ITC across the state's borders and can be used to meet the output tax liability. This requires businesses to attach extra care towards input tax calculation. Availing the right ITC will ensure that the working capital of the business is maintained properly, and also help to maintain the credibility of…

Compound Interest: Explanation, Formula and Example

Posted on: January 13, 2020 | Last modified on: January 13, 2020

What is Compound Interest? We all have learnt the principles of calculating Compound Interest while we were in school. But, with so many other things which take our priority in life, it’s nearly impossible to remember everything that you learnt in school, right? So, here’s a refresher about this simple yet crucial concept of calculating the interest amount will help manage your accounts more seamlessly. Compound interest is when interest is earned not only on the initial amount invested, but also on any interest. In other words, interest is earned on top of interest and thus “compounds”. The compound interest…

GST on Interest on Delayed Payment by Customer

Posted on: November 3, 2017 | Last modified on: August 24, 2021

Many suppliers have defined credit terms, which require their customers to make payment for supplies by a certain date. If the payment is not made, the supplier charges interest on the amount due from the customer. One of the major questions both suppliers and customers have - is GST charged on interest payment? Let us understand the common queries which tax payers have with regard to treatment of interest charged by suppliers under GST. Is GST on interest on delayed payment applicable? Interest charged by a registered person from a customer on delayed payment for a supply will be included…

GSTN Issues Advisory on Reporting 6% Rate In GSTR-1

Posted on: June 30, 2022 | Last modified on: March 9, 2023

New GST Rate New rate structure (IGST and CGST + IGST) Reporting of new GST rate in portal Flexible accounting software accommodates tax rate changes The GST or Goods and Services Tax, is an indirect tax that has replaced the previously applicable taxes such as the service tax, value added tax, purchase tax, excise duty, etc. It is a tax levied on certain goods and services and applies to all parts of India. The IGST or Integrated goods and services tax is an interstate tax that is also levied on imported goods and services into India. The CGST or Central…

COVID-19 Relief Measure- Revised Due Dates, Waiver of Late Fees and Interest

Posted on: April 23, 2020 | Last modified on: August 24, 2022

Due date for filing GSTR-3B extended for May’20 Wavier of late fee Waiver of interest Extension of due date for composition dealer Extension of validity period of e-way bills Due date extension for other compliance activities Non - GST changes In the view of prevailing COVID-19 pandemic and its impact on the businesses, the govt of India has made several changes related to GST compliance schedule and rules. These changes are made to provide relief to the trade and Industry in this tough period.  Revised GST return due dates, wavier of late fees and interest for delayed filing, the extension…