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E-invoicing
What is E-invoicing? Electronic invoicing / e-invoicing is a form of electronic billing! Why E-invoicing? E-invoicing is increasingly mandated by Governments across the world, particularly due to GST/VAT evasion Real-time invoice reporting discourages subsequent fraudulent changes/ adjustment Real-time reading of invoice/ data by Government Machines
Quarterly Return Monthly Payment Scheme (QRMP) – New Facelift
Quarterly Return Monthly Payment Scheme (QRMP) – New Facelift Volume: 2 A. Exordium The Central Board of Indirect Taxes & Customs (CBIC) vide Circular No. 143/13/2020-GST dated 10th November 2020 introduced Quarterly Return Filing and Monthly Payment of Taxes (QRMP) scheme under Goods and Services
Important changes as per Notification No. 94/2020-CT dated 22-12-2020 Applicable from 1 January 2021
Important changes as per Notification No. 94/2020-CT dated 22-12-2020 Applicable from 1 January 2021 The registration Time limit for approval of GST Registration increased ⎯ The time for system-based registration has been modified from 3 days to 7 days. Now the grant registration would be
GST Amendments Notified on 22.12.2020
GST Amendments Notified on 22.12.2020 The Government has via Notification no. 94/2020-Central tax dated 22nd December 2020 made the following changes in CGST Rules, 2017: Restriction on use of amount available in Electronic Credit Ledger New Rule 86B has been inserted which restricts the use
Analysis of amendments notified vide notification no. 94/2020
Amendments notified vide notification no. 94/2020 1. Payment of tax, 2. Credit Availment, 3. Restriction on Filing of GSTR 1 4. Way Bill And 5. Suspension of Registration New Rule 86B for Payment of Output Tax Through Cash Ledger Rule 86B has been inserted vide
GST ComplianceUnbridled powers for physical verification for gst registration
1. Before 23-03-2020, physical verification of place of business could be done only post-registration. It means physical verification of the place of business was not a pre-condition for registration. 2. W.e.f. 23-03-2020, failure of aadhar authentication before the grant of registration was declared ground for
How to File GST return without any software
List of all GST returns with due dates after all recent changes Type of Registered person Turnover Regular returns Normal Up to 5 Cr ( opted for quarterly return) GSTR 1– 13 th of the month after the end of the quarter GSTR 3b–
CA Shafaly GirdharwalSevere changes in GST rules via CGST fourteenth amendment rules 2020
CGST fourteenth amendment rules 2020 These are CGST fourteenth amendment rules 2020. A lot has been amended via these rules Registration procedure and the input tax credit is made strictier. More conditions are imposed to get registration. The limit of ITC is also reduced to
New features- How to file GSTR 3b? Step by step process after all amendments
Use auto-populated data to file GSTR 3b Now you don’t need to remember or reconcile the data of GSTR 3b manually. GSTIN has enabled this new feature in which you can use the auto-populated data of GSTR 3b. Turnover and ITC both will be auto-populated
E-Invoicing New Era Under GST And Indian Economy
E-Invoicing New Era Under GST And Indian Economy Budget Speech: GST ▪ The electronic invoice is another innovation wherein critical information shall be captured electronically in a centralized system. It will be implemented in a phased manner starting from this month itself on an optional basis.
Recommended Format For Applicability of E-Invoice To Be Taken From Supplier
TO BE PRINTED ON THE LETTERHEAD To whomsoever, it may concern. We M/s. ___________________________________________________ having PAN ______________ and GSTIN Registration Number _____________________ hereby undertake that, provisions of E-Invoice as per Rule 48 of CGST Rules 2017: a) Is applicable to us from 1st Oct
Fresh Panel Appointed to Handle GST Litigation at Various Courts
Fresh Panel Appointed to Handle GST Litigation at Various Courts Government of India Ministry of Finance Department of Revenue (Central Board of Indirect Taxes & Customs) Legal Cell Order The President of India is pleased to appoint a fresh panel of Sr./Jr. Standing Counsels of