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 […]
Approval of Pending GST Registration application GST department in an official letter , said that all the registration application filed on or before 30.06.2020 which remained pending for processing as on 15.07.20 , is deemed approved. All other pending applications will be approved till 31.07.2020 in a special drive. Normal process of deemed approval of […]
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 […]
OUTCOME OF 39TH GST COUNCIL MEETING The 39th GST Council Meeting was held on 14th March 2020 in New Delhi where in key decisions were taken. Key Outcomes of 39th GST Council Meeting are as follows Interest for delay in payment of GST to be charged on the net cash tax liability w.e.f. 01.07.2017 (Law […]
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 […]