Webbe generated under GST along with the new ledger accounts / Chart of accounts to be created in the accounting software or ERP. The granular level for capturing the reporting requirements under GST. In the GST returns we need to show data under various sections. New ledgers / chart of accounts to be created under GST are Webto maintenance of the books of accounts, irrespective of the type of industry, nature of the product (say, goods or services), size of the operations etc., subject to a few exceptions. …
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WebNov 7, 2024 · Since 9 th October 2024, a fight has been going on between GSTR 2A introduced by the GST Authorities and the Books of Accounts kept by the assessees. Finally, the Hon’ble Supreme Court has declared Books of Accounts as the winners, vide its judgement in Civil Appeal No. S.L.P. (C) No. 8654 of 2024, declared on 28 th October … WebJul 25, 2024 · The GST Council has announced some ‘relief’ for publishers in the form of reduction in GST on e-book sales — from 18% to 5%. The reduction is applicable only to … disadvantages of having a public company
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WebOct 9, 2024 · Books of accounts have to be compulsorily maintained, where income exceeds Rs 2,50,000 or total sales, turnover, or gross receipts exceed Rs 25,00,000 in the previous three years. Books of Accounts are to be maintained for 6 years from the end of the relevant financial year. Books of Accounts include: Cash Book Journal Ledger WebSep 7, 2024 · Exempt supply under GST means supplies which not attract goods and service tax. In these supply no GST is charged. Input tax credit paid on these supplies … WebJun 14, 2024 · As per the GST slabs, the textbooks are exempt from GST, however, books like exercise books, laboratory books and drawing books attract 12% GST. Since the workbook is different from the textbooks, the publisher was in the dilemma whether work would be clubbed under the slab of exercise books and hence liable to 12% GST or is it … found baby tommy mx