12 GST Items – List of Goods and Service Tax Rates Slabs
The GST rate is decided by the head council of Goods and Service Tax. It is important to stay updated with the latest GST slab rates. Let us learn about some 12 GST items in this article.
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28 GST Items – List of GST Slab Rates in India
28 GST Items: There are many goods and services covered under GST taxes in India. This article provides you with a detailed list of some frequently used products and services in our country and tax imposed on them.
What Are 0 GST Rate Items In India?
There are different tax slabs in India based on the products or services of different types availed by the consumers. Let us learn about some of the 0 GST rate items in India under this article.
Pro Rata: What It Means and Formula to Calculate It
In the world of finance, business, and everyday contracts, you may frequently come across the term “Pro Rata.” Whether it’s used in dividend distribution, interest calculation, insurance premiums, or employee benefits, understanding it can help you interpret and manage proportionate distributions more effectively. This article will provide a comprehensive look at what it means, why …
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Perpetual Inventory System: Definition, Pros & Cons, and Examples
Perpetual Inventory System is a modern inventory tracking technique that offers businesses real-time insights into their inventory levels. Unlike traditional methods that rely on periodic checks, this system leverages technology to record inventory movement as it happens. As companies seek more efficient ways to manage stock and minimize errors, many are increasingly adopting this method …
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What Is Adjusted Gross Income (AGI)?
Adjusted Gross Income (AGI) plays a crucial role in the income tax filing process. Whether you’re a salaried employee, a freelancer, or a business owner, understanding AGI can help you better manage your taxes. It is a foundational number in calculating your total tax liability and is often used to determine eligibility for deductions, credits, …
Pareto Analysis: Definition, How to Create a Pareto Chart, and Example
In today’s data-driven world, decision-making can become complex without the right tools. One of the most effective tools for prioritising issues and solutions is Pareto Analysis. Grounded in the 80/20 principle, Pareto Analysis helps businesses and individuals identify the vital factors that cause most problems. This strategic technique allows organisations to focus their efforts on …
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What Is Book Balance? Definition Vs Bank Balance and Example
Book balance is a fundamental accounting concept that plays a crucial role in a company’s cash management and financial record-keeping. It refers to the cash balance recorded in the company’s accounting system, representing all transactions that have been recorded but not necessarily cleared through the bank. Understanding book balance is essential for accurate reconciliation and …
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What is a Tally Used For?
Tally is a software used for accounting and managing financial transactions and other related functions. Let us know more about tally in this article below.
Sales Ledger Vs. Purchase Ledger: Difference between Sales Ledger and Purchase Ledger in Tally Prime
Sales ledger and purchase ledger are two important financial tools in tally used to track and monitor sales and purchase records.