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Ledger
A ledger [1] is the principal book or computer file for recording and totaling economic transactions measured in terms of a monetary unit of account by account type, with debits and credits in separate columns and a beginning monetary balance and ending monetary balance for each account. A ledger can have the following two formats. Physical ledger Edit This type of ledger is made up of paper. It can be physically touched. It was very common in the early years for business transactions as the digital ledgers were not fully developed. Digital ledger Edit This type of ledger is based on digital medium. Definition of ledger 1 : a book containing accounts to which debits and credits are posted from books of original entry The ledger is a permanent summary of all amounts entered in supporting journals which list individual transactions by date. Every transaction flows from a journal to one or more ledgers. A company's ...
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All about GST
Now a days every one of you know that we are giving GST on every products. NOW HERE A QUESTION ARISE WHAT IS GST Goods and Service Tax ( GST ) is an indirect tax (or consumption tax ) levied in India on the supply of goods and services. GST is levied at every step in the production process, but is refunded to all parties in the chain of production other than the final consumer. The tax came into effect from July 1, 2017 through the implementation of One Hundred and First Amendment of the Constitution of India by the Indian government . The tax replaced existing multiple cascading taxes levied by the central and state governments. The tax rates, rules and regulations are governed by the GST Council which comprises finance ministers of centre and all the states...
