WHAT IS GST?
1.
GST was introduced by Government of India.
2. GST has replaced the old taxes like VAT, Service Tax, CST, Excise Duty, Entertainment Tax, etc.
3. It was introduced from 01.07.2017.
4. GST is not levied upto 20 lacs per annum.
5. Different GST rates are 0%, 5%, 12%, 18% and 28%
6.
Some goods exempted from GST.
Click Here to learn more about exempted goods.
7.
Some services are exempted from GST.
Click Here to learn more about exempted goods.
8. HSN = Harmonised System of Nomenclature.
Click Here to know the HSN of
goods.
9. SAC = Services Accounting Code.
Click Here to know the SAC of
services.
TAX LEDGERS
1. CGST = Central Goods and Services Tax
2. SGST = State Goods and Services Tax
3. IGST = Integrated Goods and Services Tax
OTHER LEDGERS :
1. Local Purchases
2. Local Sales
3. Inter-State Purchases
4. Inter-State Sales
ACTIVATION:
1. F11: Features
2. Statutory and Taxation
3. Enable GST = Yes
4. Set/Alter GST details = Yes
5. Give the details
6. Accept.
