e-Invoicing in GST is the latest initiative by the Govt. Read our blogs to understand the importance of e-invoicing mechanism & how it works for the businesses.
Exports Under GST Export of goods and services are given preferential treatment and benefits across the globe in the form of export benefits or refund of taxes in line with the principle that taxes should not be exported. However, the area also remains prone to fraudulent practices for the claim of such benefits. Under GST, …
Exports – Recent Amendments And Applicability Of E-Invoicing Read More »
A question often asked – Why should we automate our purchases or procurements? What’s the need? Instead, we propose that you ask – Why shouldn’t we automate our procurements? What are we losing if we don’t? In the era of technology revolution like the present, automation empowers organizations. It gives the organization a breather from …
The country is all geared up for its final phase of the rollout of E-invoicing. With effect from 1 April 2021, the E-invoicing storm shall reach its final stage wherein the businesses with turnover less than Rs. 100 crores shall be liable to raise E-invoices for all B2B supplies made by them. As a recap, …
E-Invoicing Phase III: The Challenges That Lay Ahead! Read More »
While there has been much discussion around issuing E-invoices and the regulatory requirements, the other side of the story remains largely undebated – The impact of E-invoicing from the purchaser’s point of view. Every invoice impacts two parties – the buyer and the seller. Mainly, the responsibility of raising appropriate invoices rests on the seller …
The next phase of E-invoicing is here! For businesses with a turnover of more than INR 100 crores and less than INR 500 crores, 2021 seems to be exhilarating. The dawn of New Year mandated the much-touted E-invoicing for the sector. The sector is yet to see the actual benefits and challenges of E-invoicing implementation. …
Introduction The famous author Stewart Brand once said “Once a new technology rolls over you, if you are not a part of the steamroller you’re a part of the road.” Across the globe, organisations are quickly evolving. Significant progressions are being made in the field of technology; the tax function is also not left behind. …
Introduction E-invoicing is the new household word in the country which has caused a stir in recent times. The GST Council has rolled out the first phase of E-invoicing from 1 October 2020. While a lot has been said and discussed E-invoicing, there are certain grey areas that need to be addressed. One such area …
Change is the only constant – technology is an invincible tool that has changed our everyday life to an extent that it has become indispensable. A new addition to the technological revolution in India is the rollout of E-invoicing for businesses whose turnover is more than 500 crores. One month down the line, the experience …
Issues & Concerns Pertaining To E-invoicing Post 1st Oct 2020 Read More »
Amidst a lot of speculation, the Government has decided to go ahead with the E-Invoicing implementation for certain specified persons. E-invoicing is going to be implemented from 01 October 2020 for registered persons with a turnover exceeding the threshold of INR 500 Crores. Many requests have been submitted before the Board from the businesses and …
Government has notified e-invoicing schema (FORM GST INV-1) and the applicable threshold for the mandatory generation of e-invoices. The details have been summarised below: Threshold For E-Invoicing / Dynamic QR Code The threshold for e-invoicing has been increased to ₹500 crores of aggregate turnover in a financial year, computed on all India basis for B2B …
Government Notifies Revised E-Invoice Schema & Threshold E-Invoices Read More »
