Rule 46 (b) of the CGST Rules 2017 suggests that any tax invoice should have a 16 character alpha-numeric invoice number unique for a financial year.
An ISD assures that the common expenditure and billings shared between an organization’s branches/sub-units is centralized.
It has been one year since GST rollout. In the coming year, changes in the GST return filing process can be expected which aim to simplify the existing process.
The validations are categorized in 4 major buckets for better understanding. Here are the rules for e-invoicing that you must take care in order to avoid errors. Read more...
GST annual returns, taxpayers have been facing certain issues while filling form GSTR 9 and GSTR 9C.
‘Input Distributor Officer’ is one of the most crucial concepts in the Indian economy, especially for the big players in the market.
Every month’s GST filing, you need to reconcile your purchase data with all your suppliers’ sales data that they have uploaded on GSTN.
Input Tax Credit or ITC under GST is the credit back of the tax a registered GST taxpayer pays on inputs i.e. purchases. This tax he is liable to get back from the government. Read more
Eway Bill under Bill-to and Ship-to’ is a common business scenario wherein the party to whom invoice is billed is different from the party actually receiving the goods or services.
Updates: 23 April 2019 – Presently, the common portal supports the order of utilization of input tax credit in accordance with the provisions before implementation of the provisions of the CGST (Amendment) Act
Understanding E-invoicing and QR code generation for B2C transactions made easy! Also read, all about QR Codes in case of B2C invoices and transactions.
The Input Tax Credit mechanism allows a taxpayer to reduce his tax liabilities on his sales with the taxes paid on inward supplies.