The pure agent makes a payment to a third party, on behalf of the recipient, for procuring a supply when the contract for the supply of services procured is between the third party and the recipient.
One such proposal laid down to improve GST implementation is Reverse Charge Mechanism (RCM) with an aim to enhance tax compliance and coverage across organized, partly organized and unorganized sector in India.
Payment Voucher under Reverse Charge Mechanism in GST is a proof of transaction between taxpayer and unregistered supplier.
Learn how the new changes in Tax Collected at Source (TCS) on overseas travel packages in India from 5% to 20% will impact the cost of travel for customers and travel companies
In this article, we will see 6 Tasks a GST Software can do to Simplify your Compliance beyond just Return Filing. Read on...
Lifecycle of an Invoice under GST: This article aims to simplify the various stages involved, highlighting how the data passes through different stages and various GST returns.
The integration of GST EWay Bill with FASTag, envisaged in January 2019 with the revenue department setting up an officers committee to integrate e-way bill, FASTag and Delhi-Mumbai Industrial Corridor’s (DMIC’s) Logistics Data Bank (LDB) services, finally came into effect last week.
Invoice Reference Number or IRN as it is usually called is a registration number provided by the government under the e-invoicing mandate to prove the authenticity of any B2B invoice generated by the businesses.
The process of supplying the goods (produced/manufactured in the country) on an international scale is known as Export.
The provisions made under GST define a Casual Taxable Person as any individual who transacts goods and services occasionally while acting as a Principal, Agent or in any other capacity for the furtherance of the business, but does not possess any fixed place of business in the given taxable territory,
Clearing the fog about a major misconception surrounding the E-invoice generation, it is not mandatory for a taxpayer to generate E-invoice through the government’s tax portal.
The supply goods and/or services is done under bond or LUT, without payment of IGST. In such scenario, the exporter can claim a GST refunds on export of the unutilized ITC available for CGST, SGST and IGST.
© 2024 IRIS Business Services Ltd.All Rights Reserved. | Privacy Policy
