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GST

Vijayakumar V.

11/09/2018 1 0

GST refers to Goods and Services Tax.

GST replaced then called sales tax and service taxes.

GST paid on purchases shall be recorded as an asset which shall be offset with the GST collected (liability for the seller) on Sale of goods and services. The net GST collected over GST paid shall be deposited to tax authorities.

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