Have you started the preparation for Goods and Service tax (GST)?
Yes, in all probability GST will be implemented from 1st April 2017. This is a major change in indirect taxation in India. Early preparation for GST is must to understand the impact of GST with different aspects.
- Existing system and software will require a major modification.
- Product costing will change due to change in tax credits.
- Cash flow management becomes crucial due to duty structures.
- Compliance requirement will change.
- Re arrangement of supply chain may be required.
Like this there will be many impact on businesses, depending on the nature of business or business model. GST Invoice format in excel
GST Invoice Format:
Coming to the point, department has issued draft invoice rules and invoice format under GST. We started working on invoice preparation utility under GST. The draft GST invoice format in excel can be downloaded by subscribing to our website.