1. which types of GST in tally
1. Gstr- 1 ( sales return )
GSTR-1 is a monthly/quarterly return that summarises all sales (outward supplies) of a taxpayer. You must make sure that a valid GSTIN
2. Gstr- 2b ( purchase return )
GSTR-2B is an auto-drafted ITC statement which is generated for every normal taxpayer on the basis of the information furnished by his suppliers in their respective GSTR-1/IFF, GSTR-5 (non-resident taxable person)
3. Gstr- 3b
GSTR-3B is a self-declared summary GST return filed every month (quarterly for the QRMP scheme). Taxpayers need to report the summary figures of ...
2. Types of TDS
1. 194Q- in good (10%)
According to this section, a 0.1% Tax Deducted at Source (TDS) is applicable when a buyer purchases goods beyond the exemption threshold of ₹50 Lakhs
2. 194C-
The threshold limit for the deduction of TDS under Section 194C is Rs. 30,000 per contract or Rs. 1,00,000 in aggregate in a financial year.
3.194H
TDS deduction on the payment of commission or brokerage. It mandates tax deduction by the person (other than individual/HUF) responsible for paying commission or brokerage to resident persons at the rate of 5% when the amount exceeds Rs. 15000 in a year.
3. What is Bank Reconciliation
4. Bank statements entries
5. purchase and sales entry
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