What is GST?
Learn how to create or prepare a GST invoice correctly with a simple example.
How do I create a GST invoice?
The GST is an indirect tax on India as of July 1, 2017. Taxes on the sale and manufacture of goods and services. Will reform the current tax structure imposed by the central and state governments. It is about to launch a new business compliance system in India. The GST tax is a single tax on the supply of goods and services from the supplier to the consignee. Learn what is the consumption tax and how to create a GST invoice in simple steps. The percentage of the GST tax rate is fixed at 5%, 12%, 18% and 28%.
The GST tax consists of two rates, CGST and SGST. Collected by CGST is the central government, SGST is for their respective state government. IGST is sold between the central and state governments. “One Nation, One Tax” is a slogan of GST tax, because it will set a uniform tax rate in the Indian states.
The goods and products sold in the same state are called domestic sales.
GST = CGST + SGST
For example, 18% of the excise tax is evenly distributed between CGST (9%) and SGST (9%).
When the sale of goods and products occurs between the two states, it is called international sales.
GST = IGST
For example, if the product levies 18% of the tax, it only accounts for 18% of IGST.