As per GST law, for every supply of taxable goods or services, a registered supplier is required to provide a tax invoice to the Purchaser.
Government has issued notification w.r.t. changes in GST rates for real estate sector with an option to charge new tax Rate from 1st April 2019 for ongoing projects.
In the last few decades, the telecom sector has emerged as one of the largest services sectors in India. Impact of GST on Telecom sector.
An E-commerce operator liable to collect tax, he is required to be registered under GST, mandatorily.
GST Registration is a two-step process. A Temporary Registration Number can be generated without submitting documents. step-by-step guide to get your registered in the GST portal.
Goods and Service Tax Collection in India went up by 15.6% from a year ago to hit INR 1.06 trillion in March. GST Council has been working diligently towards a fairer taxation system and reduce tax evasion.
GST is structured as One-multistage based taxation system, it is categorized into CGST, SGST or IGST, based on whether the transaction is Intra-State or Inter-State.
The pilot for New Returns- Sahaj and Sugam, was to start from April 1, 2019 and the mandatory filing to start from July 2019.
There are certain tasks that taxpayers need to carry out as FY year end activities and some mandates start from 1st April 2022. And like every year, this year again we have brought you a GST Year-End checklist of all the activities that you need to complete before the financial year ends.
The banking sector is one of the largest services sectors in India. The implementation of the Goods & Services Tax (GST) will likely prove to be a challenge for the sector on two counts.
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.
A company has to deal with multiple transactions and with the supply of goods and transportation, the requirement of e-way bills also becomes mandatory. Thus a secure and comprehensive e-invoicing software is necessary to ease the course not just for IRN generation but also to print and share invoices, manage e-way bills, and for a smooth ITC claim as a way ahead.
