Latest updation on GST for Tally

In this article, you will learn all about the latest GST updates and the process of using Tally Software for best results. But before we overload you with information, let’s start with a few basics. What is GST? GST , or Goods and Services Tax, is a unified tax applicable in the whole of India. This single uniform indirect tax effectively replaces all other indirect taxes, such as VAT, CENVAT, and many others. GST is touted to be one of the most uniform taxes of all times. It applies to all business, whether large, small or even micro-scaled. Applicable on both Goods and Services, GST employs a dual system through which both State and Centre stay independent of each other. The Union Finance Minister heads the GST Council with various State Finance Ministers as members. What are the tax slabs under GST? GST follows a four-tiered system wherein goods and services will be taxed at 5%, 12%, 18%, and 28%, depending upon various categories. For essential goods, the tax is kept at...