This module will not be further enhanced. Support is limited to defect fixing only.

Introduction to Goods And Services Tax (GST)

Goods and Services Tax (GST) is chargeable on any supply of goods or services sold or delivered in any country - when it is a taxable supply and made by a taxable person in the course or furtherance of the business carried on by him. GST is applicable on nearly all types of goods and services.

Value added Tax (VAT) is a tax on domestic consumption of goods and services. The goods imported into the country and the goods and services supplied within the territorial limits of the country are the subject matter of the VAT tax. There are two types of VAT taxes: Input and Output VAT.

This functionality allows the user to calculate the output VAT tax based on liable income sources.

The output VAT is the value added tax that is calculated and charged on our own sales of goods and services, if you are registered for VAT. It is charged on sales both to other businesses and to ordinary consumers.

As per the regulatory requirement, invoices are required to be generated for VAT liable fee income.