GST- TAX RTR - Bills Mangement
₹35,000.00
₹30,000.00
One Year- GST (Goods and Services Tax):Definition: GST is an indirect tax levied on the supply of goods and services in India, replacing multiple indirect taxes imposed by the central and state governments.
Structure: GST has four tax slabs: 5%, 12%, 18%, and 28%, with certain goods and services exempted or taxed at a special rate.
Components: Integrated GST (IGST) for interstate transactions, Central GST (CGST) for intra-state transactions, and State GST (SGST) levied by individual states.
Importance: Simplifies taxation, eliminates cascading effects, promotes a unified national market, and enhances tax compliance. - Tax Return Filing (RTR):Definition: RTR refers to the process of submitting tax returns to the relevant tax authority, providing details of income, deductions, and tax liabilities for a specific financial year.
Process: Taxpayers gather financial information, calculate tax liabilities, complete required forms or filings, and submit them within the specified deadlines.
Channels: Tax returns can be filed online through government portals or offline through authorized intermediaries.
Importance: Ensures compliance with tax laws, facilitates accurate assessment of tax liabilities, and enables taxpayers to claim refunds or credits. - Bills Management:Definition: Bills management involves the systematic organization, tracking, and payment of bills and invoices related to business expenses, utilities, and services.
Components: Receipt and recording of bills, verification against purchase orders or contracts, approval workflows, and timely payment processing.
Tools: Accounting software, invoice management systems, and enterprise resource planning (ERP) solutions automate and streamline bill management processes.
Importance: Prevents late payments, avoids penalties or interest charges, maintains vendor relationships, and provides accurate financial records for budgeting and forecasting.
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