The difference between a petty cash book and a cash book is that a petty cash book is used to record small and repeated transactions whereas a... View Article
Two useful features of a cash book are as follows: It functions as a journal as well as a ledger. It can be used as an alternative to the... View Article
Processed fruit products like jam and jellies attract a GST of 18%. Also read: MCQs on GST Learn about more commerce questions and answers... View Article
Freshly produced milk is exempted from GST. But packaged milk with brand name falls under 5% GST. Also read: MCQs on GST Learn about more... View Article
No, the food delivery service is not free from GST. Also read: MCQs on GST Learn about more commerce questions and answers from different... View Article
Services that are GST free are food grains, jaggery, fish and meat (not processed and packaged), curd, hearing aids, raw silk, khadi fabric,... View Article
The full form of IFF in GST is Invoice Furnishing Facility. Also read: MCQs on GST Learn about more commerce questions and answers from... View Article
CGST (Central Goods and Services Tax) is levied by the Center on the intrastate supply of goods and services while IGST (Integrated Goods and... View Article
The GST system was proposed by the Atal Bihari Bajpayee government and was implemented by Prime Minister Narendra Modi in 2017. Also read:... View Article
The GST council is headed by the finance minister. The current head of the GST council is Nirmala Sitharaman. Also read: MCQs on GST Learn... View Article
France was the first country in the world which implemented the GST model. Now GST is followed in more than 140 countries. Also read: MCQs on... View Article
The dual GST model refers to the GST being levied by both Central and State governments. Also read: MCQs on GST Learn about more commerce... View Article
The Indian GST model is based on the Canadian dual GST model. Also read: MCQs on GST Learn about more commerce questions and answers from... View Article