SST Transaction - Million Accounting Software

Expired

Accounting for SST

For Million Accounting Software

General - GL Transaction - Add

a) SALES TAX

Accounting Basis:-

  • Accrual basis

Sales Tax required to be accounted:-

  • At the time when the goods are sold, disposed or first used
 
b) SERVICE TAX

Accounting Basis:-

  • Payment basis

Service Tax required to be accounted:-

  • At the time when the payments is received
  • On the day following period of twelve month when any whole or part of the payment is not received from the date of the invoice for the taxable service provided