A good and service-wise tax report provides a detailed breakdown of taxes associated with the sale of goods and services by a business. This report typically includes the following information:

Good and service details: The report includes information about the goods and services sold by the business, such as their names, descriptions, and prices.

Tax details: The report provides a breakdown of the taxes associated with each good and service sold. This includes the tax rate, the amount of tax charged, and the total tax collected.

Sales details: The report also includes information about the sales associated with each good and service, such as the total revenue generated, the gross profit earned, and any discounts or promotions applied.

A good and service-wise tax report can provide several benefits for businesses, including:

Compliance: Generating good and service-wise tax reports can help businesses ensure that they are in compliance with tax laws and regulations.

Accuracy: Good and service-wise tax reports can help businesses ensure the accuracy of their tax filings by providing detailed information about the taxes associated with each good and service sold.

Better insights: Good and service-wise tax reports can provide businesses with a better understanding of the sales and taxes associated with each good and service sold, which can be used to identify trends, optimize pricing, and make more informed business decisions.

Audit trail: In case of any tax audits, good and service-wise tax reports can provide a clear audit trail that can help businesses provide evidence of their tax compliance.

How to open Good & Service Wise Tax Report:

• Go to the Report module in the left sidebar.
• Click on the Good & Service Wise Tax Report button.

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