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  • GST Amount = (Original Cost*GST Rate Percentage) / 100.
  • Net Price = Original Cost Plus GST Amount.

The amount of the IGST Input Tax Credit must be used first to pay the IGST, then the CGST, and finally the SGST / UTGST. The amount of the CGST Input Tax Credit will be used to pay the CGST first, then the IGST.

Tally's statutory and taxation capabilities provide setup and functions relevant to statutory compliance for businesses. The characteristics of statutory are country-specific and vary by country. For statutory and taxes purposes, the following characteristics are available: Tax on Goods and Services (GST)

Governments in practically every country throughout the world levy forced charges on individuals or companies, which is known as taxation. Taxation is usually used to collect income for government expenses, but it can also be used for other purposes.

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