While the general format for a tax invoice is outlined under Rule 46 of the GST regulations, there are specific relaxations and additional requirements for certain industries. For example, special formats apply to banks, insurance companies, and financial institutions, as well as to goods transport ...
The board has opted the representation upon the problem that carrying a physical copy of the invoice is essential upon the transportation of the goods in the case where the supplier has provided the invoices under GST in the way mentioned beneath rule 48(4) of the CGST Rules, 2017 (i.e....
The Goods and Services Tax (GST) landscape in India is set for a significant shift with the introduction of the GST e-Invoice Rule Change 2025. This is because businesses will be required to upload their e-invoices to the Invoice Registration Portal (IRP) within 30 days of issuance. Thus,...
The central board of indirect taxes and customs (CBIC) on Tuesday signifies that GST e-invoicing is important for several businesses particularly for those whose turnover is more than Rs 100 cr from January 1, 2021. Prior to it, the set limit was the tur
Also, the GSTN first announced and then postponed the 7-day invoice generation limit rule. However, you can read: How 7-day e-invoice generation limit will Impact Your GST Compliance. Apart from that, the 50th GST Council Meeting is most likely to be held in June. You can click the ...
E-invoicing under GST streamlines B2B transactions for GST-registered businesses. Learn more about e-invoicing and e-invoice applicability.
FAQ 7. How can recipient accept a genuine credit note issued by supplier in IMS as it will result further reduction of the recipient ITC, however recipient had reversed ITC corresponding to invoice itself because of 17(5), Rule 42, 38, 43 etc., or not availed the ITC at all because ...
Latest GST News: E-invoicing Updates New e-Invoice Portals Integration GSTN informs that NIC will launch integrated services for the e-invoice-1 and e-invoice-2 portals on July 18, 2024, in sandbox mode and on August 1, 2024, in production mode. The main updates are: Both portals offer...
Step A:Enter export invoice details in Statement 3. Step B:Generate and upload a JSON file on the GST portal. Validate errors, if any. Step C:Fill out the ‘Computation of Refund’ in Statement-3A with turnover and input tax credit details. ...
For GST transactions, you must enter the invoice number. Click OK on the Enter Voucher - Payment Information form. The system displays the Work with GST Voucher Tag file form when you set the Apply GST processing option for the PO - A/P Standard Voucher Entry...