How to Record GST Transactions in Accounts – Journal Entries

Accounting Treatment Under GST GST will not only subsume the existing indirect taxes such as Service Tax, VAT, Excise, CST etc. but also simplify business and accounting processes. Initially, there may be certain transitional issues but in long term, it will ensure more transparency in business reporting and compliance. In the GST regime, a taxpayer … Read more

All About Accounts and Records to be Maintained Under GST Law

Under the Goods and Services Tax law, the taxpayer is required to maintain certain documents, accounts, and records in respect manufacturing, trading or provision of services. In this article, we will discuss all the aspects related to maintenance of Accounts and Record under GST. Types of Accounts and Records Required GST The registered taxpayer should … Read more

All about E-Way Bill under GST (Procedure for Transportation of Goods)

Update: E-way Bill will be applicable from 1st February on transportation of all goods having value more than Rs. 50000 In the earlier VAT regime, the States have various check-posts on borders and highways to monitor the movement of goods. The officer can verify the goods and relevant documents to ensure that proper duties have … Read more