GST Accounting in India, Goods and Service Tax is being glorified as a system of taxation by which economy Goods and service tax or GST will be one tax to subsume all taxes. GST In India is a consumption based tax levied on sale, manufacture and consumption, will bring in “One nation one tax”
First get to learn what GST In India is. GST Accounting is a goods and service taxes that you will be paying instead of paying separately, Moving to GST there are several changes that will be required, It is the new way of handling taxes and it is the new way of taxation, GST Accounting
GST Accounting in India While there will be certain initial transition challenges, for the goods and services there will be only one type of tax that will be collected GST In India will bring in much clarity in many areas of business. One of the areas is accounting and bookkeeping. it will ease the trade and industry with respect to the indirect tax system of the country, Read on to find out about accounting entries under GST.