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.
Common Enrolment number is a 15-Digit unique number available exclusively for transporters registered in multiple states under a single PAN, for the generation and updation of their EWB.
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.
Under GST regime, in order to deliver the goods in a hassle-free manner, a transporter (Registered and Unregistered) is required to fulfil the 5 key responsibilities
India, is a big economy with wider geographical anomalies. Here people live in terrains, deserts, land and mountains connected by roads, rail, air and even water at some places.
The Eway Bill mandate will kick-off with inter-state transactions and by 1st June it will be implemented for intra-state movement of goods.
E-way Bill is to be issued irrespective of whether the movement of goods is caused by reasons of supply or otherwise.
GSTR-1 is a monthly or quarterly return (based on taxpayer’s annual turnover) that should be filed by every registered dealer. The due date for GSTR-1 is based on the taxpayer’s annual turnover.
The Input Tax Credit mechanism allows a taxpayer to reduce his tax liabilities on his sales with the taxes paid on inward supplies.
In an attempt to lower the possibilities of GST evasion, e-way bill system was rolled out on April 1, 2018, for inter-state movement of goods worth over Rs 50,000.
GSTN brings relief to companies engaged in Job Work. The due date for filing ITC-04 for period from July 2017 to March 2019 hs been extended till the 30th June 2019.
New Tax Forms under GST | Penalties and Confiscation for Non Generation of EWB | GST Updates effective April 1, 2019 | IRIS Sapphire - Releases
