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 ...
Invoice Furnishing Facility (IFF) is an optional facility made available as per Rule-59(2) of the CGST Rules, 2017 and if the taxpayer does not opt for it, he/she can directly upload their invoices in GSTR 1. To ease the compliance burden, the system has assigned quarterly frequency to...
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....
FAQ 8. 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 ...
1. An Invoice Furnishing Facility (IFF) facility has been provided to taxpayers under QRMP Scheme (Quarterly filers of Form GSTR-1 and also of Form GSTR-3B returns), as per sub-rule (2) of Rule-59 of the CGST Rules, 2017. Taxpayers who have opted for quarterly filing ...
The customer may verify that the goods or services being billed for are those that were discussed and agreed upon before the issuance of the invoice in this section. The details should match the specifications and pricing on the purchase order exactly. Don’t take this as a rule against modif...
According to GST Law of India, “the invoice referred to in sub-rule (1), in case of taxable supply of services, shall be issued within a period of thirty days from the date of supply of service: Provided that in case of continuous supply of services, the invoice shall be issued withi...
Implication of GST Advisory on Invoice Number This rule implies that with the start of new financial year 2022-23 (w.e.f. 01/04/2022), GST taxpayers should start a new invoice series, unique for the financial year. Similar provision is there in Rule 49 of the CGST Rules 2017, in resp...
Learn more about invoice requirements in the UK in our comprehensive guide. Invoicing Information The general rule of providing a VAT invoice has its exceptions. For example, retailers don’t need to give out a VAT invoice unless a customer specifically asks for it. Furthermore, there are speci...
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