Electronic invoicing, popularly called as ‘e-invoice’ is a concept in which all B2B invoices are electronically uploaded by the supplier and authenticated by Invoice Registration Portal (IRP) with a unique number called IRN and a QR code. An invoice is considered valid only when there is a unique IRN and QR code printed on the […]
CBIC issued notification no 43 in which Section 128 of Finance Act 2020 has been notified with effect from 01.07.2017. Section 128 of Finance Act 2020 is as follows : Read Also : New TDS rates from 14.05.2020 In section 140 of the Central Goods and Services Tax Act, with effect from the 1st day […]
GST NEW NOTIFICATIONS CBIC has issued various notifications on 05.05.2020.Due date for GSTR9 and GSTR9C for FY 2018-19 has been extended. Read Also : RBI relief measures Eway bill expiry has been extended till 31.05.2020. Full Details here :
RECENT GST UPDATES Changes in Rule 36(4) The limit for taking input tax credit on eligible invoices the details of which has not been uploaded by supplier has been reduced from 20% to 10% . Now only 10% ITC of uploaded invoices will be allowed for not uploaded invoices. This provision will be applicable […]
MYTH VS REALITY IN GST E INVOICES GST E Invoices are going to be implemented in GST from April 2020. The government has already notified the persons having turnover more than 100 crores as the class of person who shall make GST invoices electronically. GSTN has come out with several Myths and Facts […]