Overview Of Rebate On Gst In Marg Software

Process To Apply Rebate On Gst In Marg Software

OVERVIEW OF REBATE ON GST IN MARG SOFTWARE

• A Rebate on GST typically refers to a refund or credit given for the Goods and Services Tax (GST) paid on certain goods or services. GST is a value-added tax levied on most goods and services consumed in a country.
• GST rebates are mechanisms to promote trade, tourism, or certain economic activities by alleviating the tax burden on eligible transactions. In Marg Software, the user can easily avail of the facility of applying for a rebate on GST.

PROCESS TO APPLY REBATE ON GST IN MARG SOFTWARE

• Go to Masters > Marg Setups > Control Room.

• A 'Control Room' window will appear.

• The user will select ‘Search in all’. 

• A 'Controls' window will appear in which the user will search 'Tax Rebate'.

• Now click on ‘Accept’.

A 'Tax Rebate' window will appear.

In 'Rebate on GST - > N-No A-All B-Local C-All on below Tax D-All on Local Below Tax', option the user will select the option as per the requirement.

a. A-All: Select the option if need to apply a Rebate for all parties.

b. B-Local: Select the option if need to apply a Rebate only for Local parties.

c. C-All on below Tax: Select the option if need to apply a Rebate for all parties but below the mentioned Tax Rate.

d. D-All on Local Below Tax: Select the option if need to apply a Rebate for all Local parties but below the mentioned Tax Rate.

Suppose select 'A'.

• In 'Rebate%' option, the user will mention the rebate % that needs to be given.
• Suppose mention '50'.

• The user will now press 'ESC' key twice.

• Now click on ‘Yes’ to save the changes.

• Thereafter, when the user creates a Sale Bill, it can viewed that half of the tax '90' will display as a Rebate and only half of Tax '90' will be charged.

• Now the user will press 'Ctrl+W' key and click on 'Save Bill'.