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....
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...
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 Available on GST Portal The invoice Furnishing facility(IFF) is to be given to the assessee below QRMP policy which includes Quarterly filers ofForm GSTR-1 and also of Form GSTR-3B returns, as per sub-rule (2) of Rule-59 of the CGST Rules, 2017. The asses...
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...
IMS can be accessed on the GST portal under Services > Returns > Invoice Management System (IMS) option. There are 2 sections in the IMS dashboard: Inward Supplies: Dashboard to view and act on inward supplies reported by your supplier in GSTR-1/IFF/GSTR-1A. Outward Supplies: Dashboard...
GST Advisory on Invoice Number Series GSTN had issued an advisory in this regard on 4th April 2019, as per theGST advisory, “Rule 46 (b) of the CGST Rules 2017 specifies that the tax invoice issued by a registered person should have a consecutive serial number, not exceeding sixteen char...
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 specific situations where suppliers shouldn’t produce a VAT invoice. This applies to suppliers not ...
of goods carriage in which the goods are transported, details of goods transported, details of place of origin and destination, GSTIN of the person liable or paying tax whether as consignor, consignee or goods transport agency, and also containing other information as prescribed under rule 1. ...
Note:Transactions that are not eligible for ITC, either because of the POS rule or Section 16(4) of the CGST Act, will not be displayed on IMS and will instead be directly displayed in theITC Not Availablesection of GSTR-2B. Pull Transactions from GSTN ...