GST Multiple choice quiz with question and answers 1.Coal comes under the rate structure 0% 5% 12% 18% 28% 2. which country is the first one to implement GST ? USA France Germany China Switzerland 3.. Which country has the second-highest GST rate of 27%? A.) Colombia B.) Brazil C.) Argentina D.) Chile 4. The…
what is capital Market and its instrument
what is capital Market and its instrument Capital market is the market for financial assets that have long indefinite maturity. capital market can be divided into two parts : one covering the market for corporate securities and the other covering the market for corporate securities and the other covering the market for gift edged securities…
How to do Predefined Cost Centres in Tally
How to do Predefined Cost Centres in Tally Introduction of Predefined Cost Centres Predefined Cost Centre/Cost Centre Class is used to calculate Cost Centres amount percentage wise, you can fix different percentage to all Cost Centres or to facilitate predetermined allocation of Cost Centres to Ledger accounts (like expenses and incomes) during Voucher entry. The…
GSTR 1 outward supplies in Tally ERP 9
GSTR 1 outward supplies in Tally ERP 9 According to Model GST law, every registered taxable person is required to submit “Details of Outward Supplies” in GSTR-1. This return is required to be filed within 10 days from the end of the tax period. GSTR-1 return form is divided into multiple tables, each table is…
Interstate and Intra state Stock transfer in GST regime in Tally
Interstate and Intra state Stock transfer in GST regime in Tally Under GST, levy of tax is on supply which includes transfers to distinct persons, and transfers are taxable under the following two cases: Intrastate stock transfer: Taxable only when the entity has more than one registration in one state. These entities will be…
Introduction to SAP FICO Financial Accounting Module
Introduction to SAP FICO Financial Accounting Module What is full form of SAP? System Application and Product in Data processing When was SAP founded? It was founded 1 April 1972, Weinheim, Germany SAP is an ERP System ERP stands for enterprise resource Planning ERP is a combination of business management practice and technology, where information technology…
Tally Free samples and buy one get one free in Tally under GST
Tally Free samples and buy one get one free in Tally under GST There are several schemes such as buy one get one free, free sample, flat discount etc.These schemes are introduced to increase the sales and to penetrate into a new market.It is very common practice in pharmaceutical business and during the time of festivals….
Loss by fire drawing and charity under GST Tally ERP
Loss by fire drawing and charity under GST Tally ERP ITC will not be available under the following condition under GST law goods lost, stolen, destroyed, written off or disposed of by way of gift or free samples Journal Entries to Pass Loss by fire A/c Dr To Purchase A/c (being goods loss by…
Basic Banking Terms and Definitions
Basic Banking Terms and Definitions what are important banking terms what is Bank Bank is a financial entity that accept deposits from the public and then gives that money as a loan and advance to those who require funds.The bank typically earn money by taking money deposits at lower cost and then lending the money…
what is Financial Markets
What is Financial Markets Financial Markets:-A Financial Market can be defined as the market in which financial assets are created or transferred. As against a real transaction that involves exchange of money for real goods or services, a financial transaction involves creation or transfer of a financial asset. Financial Assets or Financial Instruments represents a…