GST (Goods and services tax) – India – Tally Solutions Revised GST Rates to Watch Out For On the 10th of November, 2017, the GST Council meet for the 23rd time, and took a plethora of decisions – which aims to simplify GST and more importantly, attempts to make… The post Revised GST Rates to Watch Out For appeared first on GST (Goods and services tax) – India – Tally Solutions.
With the introduction of the GST Act, if your business needs HSN/SAC codes and tax rates, you can set these details easily using our GST-ready software, Tally.ERP 9 Release 6. With this, you have the flexibility to configure GST rates and HSN/SAC codes at any level based on your business and reporting needs. As per the GST Act, based on your yearly turnover and type of business, you need to print HSN/SAC code on invoices and reporting as per the table below: Business Type No. of Digits of HSN Codes Less Than 1.5 Cr Not Required Between 1.5 Cr to 5 Cr First 2 digits Above 5 Cr First 4 digits For Import-Export 8 digits For Services 5 digits Let […]