We all are very well aware of the Goods & Services Tax. It is described as a wide based consumption tax that is imposed on certain services and products that are used or bought by the Australians. It was officially introduced back in 2000 in order to replace an array of federal and state taxes and duties. It was criticized a bit for being partial to those who are considered as low-income earner due to its flat rate payable by the customers. Let’s understand about the information that a GST invoice includes that is then sent to the consumers…
- Document with ‘Tax Invoice’ as the title.
- Identity of the seller
- The Australian Business Number of seller
- Date of the invoice
- Description of all the items that were sold, quantity, cost, and GST payable.
Let’s walk through the path where we will understand how to configure Goods & Service Tax.
- It is important for one to have their organization’s address up to date. Settings > Business Profile, and know that without actually updating and completing this very first step you cannot configure taxes.
- Visit setting > Configure Chargebee > Tax and then click on the banner that says Enable Tax. You will find a list of all the regions in Australia that you can choose.
- Once you have enabled your taxes option, it will redirect you to the page that is inclusive of all currencies that you have enabled. This entire step is all about configuring the cost that you have quoted for services and products and for the tax that is added to the price. Those who are selling services to Australians will automatically land on the page with AUD currency.
- It is important for you to choose your products type based on the services that you are offering be it then digital or physical goods.
- Enter your tax details that are inclusive of the Tax Registration Number, enabling your location validation, collect tax registration number, and then ABN validation.
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