E-invoicing Notifications -E-Invoice System to GO-LIVE from 1st Oct, 2020. With e-invoicing notifications, the Government notifies the e-invoicing system rules, its applicability and date from when the notified rules will be effective.
This article was first published on December 16 2019, however considering multiple updates in the e-invoicing arena, we have edited the article with current updates. The E-invoicing mandate is made applicable to all the companies having more than Rs. 50 Cr. turnover from 1st April, 2021 onwards. An invoice will be considered as a valid invoice for companies falling under the mandate only if it has IRN(Invoice Registration Number) on it. ITC Claim maximization : GSTR-2B or Not GSTR-2b. GST Notifications and Circulars.
Aadhaar Authentication under GST. The idea of Aadhaar Authentication for new taxpayers was approved in the 39th GST Council Meeting held on March 14, 2020.
However, the implementation was kept on hold considering the lockdown for COVID-19 pandemic. CBIC had issued notifications on 23rd March 2020 about Aadhaar authentication for GST registration from 1st April 2020 however, it was changed later via notification 62/2020 dated 20th August 2020 and made it optional. Now, Aadhaar authentication is not mandatory for already registered personals (but advisable), non-residents, and persons other than citizens of India. According to the government, this latest requirement will ensure ease of doing registration for new businesses. Registering your GSP for E-Invoicing. Einvoicing in India. Search GSTIN by Name in Peridot 4.0.
E-invoicing Webinar association FICCI. Diwali Checklist for Accountants. Special Economic Zone and E-invoicing. Form GSTR 10. E-invoicing for E-commerce Operators. Compensation Cess in Gst. Compensation Cess Under GST. Effect of E-Invoicing on ITC Claim. E-invoicing and ewaybill implementation under GST. E-invoicing Implementation in India. E-invoice APIs. Eway bill cancellation. GST Form ITC-03 filing on the GST Portal. Form GSTR 3B. Nil GSTR 1 via SMS. New returns ebook. Extended date of GSTR 1. Measures released by the Government for MSMEs : gsthead01.
How to reset gstr 3b after submission. GST return form GSTR 3B is a monthly self-declaration, which a taxpayer is required to file on a monthly basis.
However, the taxpayer is not required to provide invoice level details while filing GSTR 3B. This leaves scope for errors while computing output tax liability and Input Tax Credit (ITC). Thereby affecting the tax payable and ITC claim. Until now, the taxpayer had no option for making changes or corrections in the GSTR-3B once the files have been submitted. But now, understanding the inconvenience taxpayers face, the Government has now provided them with the option to reset GSTR 3b. Top Social Bookmarking Sites for SEO. 40th GST Council Meeting – Expectations and Decisions. GST Filing Company. GST Services. Free Invoice Generators. Online Invoicing. ASP and GSP for GST Compliance. Form GST RFD 01. E-invoicing in india. Together with the final nod in GST Council, digital invoicing or e-invoicing will be a reality.
A transformational movement by the CBIC, e-invoicing will help curb tax evasion radically and bring ease and efficiency at GST compliance. Not just that but using e-invoicing, India could combine the ministry of nations worldwide who have embraced universally accepted criteria to enhance their invoicing, taxation and compliance reporting on the Authorities.The first version of e-invoicing specification was released in Oct 2019 and subsequently there have been changes in the specification. Along with specification, a set of e-invoicing APIs and trial system is also made available in early Jan 2020, which can be used by taxpayers for testing.
On 14 May 2020, a new version of API specification was released. Cloud Software in times of COVID-19. How to fill the GSTR 9 explained table wise. GSTR 9 Annual Return prep is around the corner.
With due date extended twice from 31st December 2018 to 30th June 2019 and from 30th June 2019 into 31st August 2019, it’s anticipated that this time there won’t be some extensions. The yearly return is divided into 6 parts, Section I covers basic details while Part II is for external supplies. Part III is important part covering ITC related accounts in Table 6 of GSTR 9, Table 7 of GSTR 9 and Table 8 of GSTR9. Section IV is the true tax paid during the financial year. How to install Orange 5 plus V1.35 software. New arrival Orange 5 plus V1.35 programmer: Comparing with Orange 5 v1.34, Orange 5 plus V1.35 is different in the following aspects: – Adds one USB Dongle – Software version: V1.35 – added Authorization of airbag, car radio, immo pin, car mileage, motorbike mileage and mileage for MTRK etc… Please look at the following images and you will know: ***The left is Orange 5 V1.34 and the right is Orange 5 plus V1.35 The files will help you understand clearly about their difference:
Issues in filing GSTR 9c and GSTR 9. Fake messages on GST Refund. GST Refund Clarification. GSTR 9. Amendment in GSTR1. Scrap Sales Under GST. Form PMT-09. Consolidated E-way Bill. E-way Bill provisions are successful almost in most countries for inter and intra-state trades.
E-way Bill will be issued regardless of if the motion of products is brought on by motives of distribution or otherwise. The E-way Bill rules demand all movement of products meeting the criteria, a exceptional amount to be obtained by the Government's system and also this exceptional number, called E-way Bill Number has to be carried together with the consignment. Eway Bill Rules. Positivity Dose to Challenge COVID-19. Everything GST in 21 Days. The lessons to be learned from The Old Man and the Sea are: While success is considered to be the sole measure of a man’s judgment, Ernest Hemingway writes profound insights about determination a man must have for success.
Do not depend on luck: The old man in the story, Santiago, went 84 days without catching a fish, which, to the fishermen lot, seemed like the worst of luck. Struggling with hunger, he believes determination and perseverance is way more important than mere luck. He works harder and strives toward his goal. You cannot simply sit back and wait for things to happen to you. You are not made for defeat: Albeit the old age, bad luck and hunger seem to be crippling, the old man stayed undaunted. Bear laments and do not complain: Santiago stays in denial with sufferings. Lockdown Challenge. Cancellation, Amalgamation and Merger Cancellation in case of E-Invoice An e-Invoice cannot be partially cancelled; it has to be cancelled fully.
Once cancelled, it will need to be reported into the IRN within 24 hours. Positivity Dose for Lockdown. There are certain things about reverse charge transactions which we all know like: RCM is applicable to specific type of services as notified by governmentIn case of RCM transactions the purchaser is liable to pay tax and not the sellerGovernment has suspended RCM payments for some period.Even where to report RCM transactions is known to everyone.
But in this article we would like to give the details of such reporting with respect to the current forms, new forms and E-Invoicing. WFH Positivity Dose - DAY8. We upload invoice level details while filing GSTR-1, take a total of entire liability arise out of sales on a monthly basis and file GSTR-3B. Then total the monthly 3B and file GSTR-9. Since this process involves counting of each and every invoice there are chances that we skip an invoice/changes are to be made in an invoice after filing.
But revised filing is not allowed in GST regime. What to do in such case? The answer is to amend the return. There are two ways in which this can be done: If filing of September month of next financial year is not done: Go to amendments section; select the month in which edit is required and make necessary edits. If any revisions are required in GSTR-3B then the taxpayer can pay the additional liability/reverse the ITC along with interest in future months. WFH Positivity Dossier- #DAY 6.
GST Lottery. GST Glossary. GSTR 9 format. Due Date of GSTR9. Detecting Tax Evasion – 4 Early Signs to look for - gstindia. Economies throughout the globe have been fighting with tax frauds so long as the taxes happen to be. Due to the non-compliance of some, honest taxpayers fall under higher scrutiny. In the long term, the tax evasion can lead to rise in alternative taxes or an increase in the tax rates, harassing the ones that are compliant. In reality, the existence of tax frauds further needs the authorities to invest funds in identification and hammering the holes.
GST that was introduced two decades ago was anticipated to help enhance tax buoyancy. As a reasonable taxpayer, how do you determine the tax frauds? GST Software India. IRIS Sapphire – IRIS GST. GST Software. GST Reconciliation. GSTR-3B filing. IRIS Sapphire One Stop Solution For filing GSTR 9. GSTR1 - Know all about missing invoices. E-Invoicing. GSTIN. GSTIN – The Fingerprint to your Business Identity Goods and service tax, the little bud sowed into the Indian Taxation System, roughly 2 years ago, today has changed the compliance game in India.
Prior to the GST regime, businesses were given Tax identification number (TIN) or Service Tax Registration number, along with numerous other compliance procedures to follow. The businessperson was not only required to maintain and manage their own business but also had to keep up with numerous taxation compliances applicable. Thus, in order to save these taxpayers from such hassles, GST was introduced, and it all started with the GSTIN GSTIN GSTIN is an abbreviation for Good and Service Tax Identification Number, which is a 15 digit, unique registration number given to every taxpayer registered under GST.