PayRoll System
The Payroll Management System deals with the financial aspects of employee's salary, allowances, deductions, gross pay, net pay etc. and generation of pay-slips for a specific period.Other advantages of Payroll Management System are its extensive features and reports.
A payroll system calculates the amount you owe your employees based on factors such as the time they worked, their hourly wages or salaries, and whether they took vacation or holiday time during the pay period. The system adjusts gross pay by calculating and subtracting taxes and other withholding amounts.
Structure Of GST
The single GST subsumed several taxes and levies, which included central excise duty, services tax, additional customs duty, surcharges, state-level value added tax and Octroi.For inter-state transactions and imported goods or services, an Integrated GST (IGST) is levied by the Central Government.
- The GST will be levied at multiple rates ranging from 0 per cent to 28 per cent. GST Council finalised a four-tier GST tax structure of 5%, 12%, 18% and 28%, with lower rates for essential items and the highest for luxury and de-merits goods that would also attract an additional cess.
Orders of GST
CGST, Central Goods and Service Tax, Click here to read in detail about CGST.
SGST, State Goods and Service Tax. The information about SGST in brief is given here.
IGST, Integrated Goods and Service Tax.
In India, there are three types of GST.
Satges of Pay Roll
