GST What are the main features of GST? Can you explain the Dual GST Model in more detail? What are the advantages of registering under the GST Act? The main features of Goods and Services Tax (GST) include: 1. **Value Added Tax**: GST is a value-added tax levied on the supply of goods and services, which means tax is collected at each stage of the supply chain based on the value added at that stage [T6]. 2. **Destination-Based Consumption Tax**: GST is a destination-based tax, meaning it is collected at the point of consumption rather than the point of origin. This ensures that the tax revenue goes to the state where the goods or services are consumed [T6]. 3. **Dual GST Model**: India follows a Dual GST Model, which includes both Central Goods and Services Tax (CGST) and State Goods and Services Tax (SGST). This means that both the central and state governments can levy GST on the same transaction [T4]. 4. **Comprehensive Tax Structure**: GST subsumes various indirect taxes such...
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GST for Final Bcom Students - Syllabus and Chapter 1 (BNU)
GFGC CHIKKABALLAPUR Name of the Program: Bachelor of Commerce (B.Com) Course Code: B.Com 5.6 Name of the Course: Vocational Course – GST – LAW & PRACTICE Syllabus Module: 1 – INTRODUCTION TO GST (THEORETICAL BASED) 10 Hrs The Concept of Tax and the Objective for its Levy, the Concept of Direct and Indirect Tax and the Differences between the two types of Taxes, the Basic Features of Indirect Taxes and the Principal Indirect taxes in India, Source Based Vs Destination Based Taxation Structure and its Features. The need for GST in India, The Historical background of GST in India, The Framework of GST (Dual Model) and various benefits to be accrued from Implementation of GST. The Significant Amendments made in Constitution (101st Amendment) Act, 2016. GST Council: Constitution, Power and Functions. Module: 2 – IMPORTANT DEFINITIONS IN GST AND SUPPLY UNDER GST 14 Hrs Definitions of: Goods, Services, Person, Consideration, Aggregate ...
Prepare the accounting Equations for the following transactions 31.08.2023
1.Prepare Accounting Equation for the following transactions: Date: April 1, 2022 Mr. A introduced INR 5,00,000as capital into the business. Date: April 5, 2022 Purchased inventory for cash: INR 20,000. ``` Date: April 10, 2022 Made sales for cash: INR 15,000. ``` Date: April 12, 2022 Purchased inventory on credit: INR 12,000. ``` Date: April 15, 2022 Made sales on credit: INR 18,000. Date: April 18, 2022 Returned some defective inventory for cash: INR 2,000. Date: April 20, 2022 Accepted returned goods from a customer: INR 3,500. Date: April 25, 2022 Paid wages to employees: INR 8,000. Date: April 28, 2022 Paid salaries to employees: INR 15,000. Date: April 30, 2022 Charged depreciation on machinery for the month: INR 1,500. 2.Prepare Accounting Equation for the following transactions: Date: April 1, 2022 Mr. A introduced INR 4,50,000 as capital into the business. Date: April 5, 2022 Purchased inventory for cash: INR 1...
Degree students & internal assessment marks
Title: Insight into Degree Students and Internal Assessment Marks in Karnataka Created by Suresh Babu MG Introduction: The education system in Karnataka, India, plays a crucial role in shaping the future of students pursuing their undergraduate degrees. Internal assessment marks are an integral part of the evaluation process, impacting a student's overall academic performance. In this blog, we will explore the significance of internal assessment marks for degree students in Karnataka and their impact on academic outcomes. 1. Understanding Internal Assessment: Internal assessment refers to the evaluation of a student's performance throughout the academic year within the college or university setting. It is designed to assess a student's progress, understanding, and application of knowledge through various assignments, tests, projects, and presentations. 2. Weightage and Grading System: In Karnataka, internal assessment marks often carry a significant weightage in the fina...
Unleashing the Magic of Amazon Prime Day: How degree students can benefit?
Vanandhaara Coorg I Homestay | Pool Villa 1 16+ guests · 6 bedrooms · 12 beds · 6.5 bathrooms Table of Contents Affiliate Marketing Estimate earnings per month: Rs 10,000 – Rs 10,00,000* Examples of affiliate marketing: Taking freelance jobs Estimate earnings per month: Rs 5,000 – Rs 1,00,000* LinkedIn Truelancer Fiverr Upwork Freelance India Selling products online Estimate earnings per month: Rs 1,000 – Rs 1,00,000* Amazon India Flipkart Etsy India Indiamart Apps to earn online RozDhan Moo Cash Uber Airbnb CashPirate Task bugs Things to Keep in Mind Before Looking for Jobs Online Know your skills and goals Research your employer’s background Verify the Job Listing’s Legitimacy: FAQs 1. Are online jobs legit? 2. Do online jobs require any registration fee? 3. What are the best platforms for students to earn online without investment? 4. What skill...