Question

Introduction to GST based Accounting ​

Answer 1

Explanation:

Under the GST regime, multiple tax levies have been replaced by a single GST tax. This has led to major changes in the accounts the business owners must maintain.

...

Accounts to be maintained under the GST regime

raw materials used for manufacture.

goods manufactured.

waste and by-products produced in the process.

Answer 2

Answer:

GST is a single , destination based indirect tax lrvied on thr value added to good as well as service at each stagr of the supply chain. the main objective behind levying such a tax is to consolidate multiple infirect tax levies into a single tax thus, GST subsumes a hot of taxt