e-Invoicing

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.

Discover why Cygnet Infotech is your best GST e-Invoicing partner

Discover Cygnet Infotech as your GST e-Invoicing partner

Govt. mandated companies of more than Rs.500 crore revenue to start generating e-invoices from 1st October 2020. As per the phase-wise expansion, companies with more than Rs.100 crore revenue began generating e-Invoices from 1st January 2021. With the idea to cover more and more firms, companies with the turnover more than Rs. 50 crores were …

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What SMBs over Rs 20 cr revenue must know about GST e-Invoicing

What SMBs over Rs 20 cr revenue must know about GST e-Invoicing-01

The Ministry of Finance has recently mandated GST e-Invoicing with effect from 1st April 2022 for the taxable persons having annual turnover in excess of ₹20 crores in any FY from 2017-18 and onwards. Such a regulatory change has evolved compliance requirements for small businesses encouraging them to embrace technology in issuing invoices. The exemption …

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5 key features required in e-Invoicing solution for small businesses

5 key features required in e-invoicing solution for small businesses (1)

The Ministry of Finance has recently mandated GST e-Invoicing for B2B and export transactions for the taxpayers having annual turnover from ₹20 crores to ₹50 crores in any FY from 2017-18 and onwards, with effect from 1st April 2022. The change indicates a massive scale-up of compliance requirements for small businesses and the need to …

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How to prepare for GSTR-1 after the introduction of e-Invoicing?

How to prepare for GSTR 1 after the introduction of e-Invoicing

Soon after the introduction of e-Invoicing from October 2020, the GSTN had begun auto-populating the GSTR-1 returns with the details from e-Invoices generated by the taxpayers to facilitate compliance and provide pre-filled returns. Once generated, the e-Invoices can be cancelled within 24 hours. After this period, the IRP moves the data to GSTN for auto-population …

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Importance of vendor automation in business post e-Invoicing

testinggspbloWhy Vendor Digitization Is Important For Business Especially Post e-invoicingg1@yopmail.com

Why vendor compliances have gained importance over the period? Historically, during the erstwhile regime, the Input Tax Credit (ITC) of any assessee was never dependent on or connected with the vendor’s payment of tax. Although no legislative provisions enacting such a restriction, there were practical instances when assessing officers approached the recipients when the supplier …

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Dynamic QR Code For B2C Invoices

Dynamic QR code for B2C invoices

Introduction The buzz word in the B2C space today is ‘Dynamic QR code’. After the recent momentous launch of e-Invoicing in the country for B2B invoices, it is now time to shift our focus to B2C invoicing. The B2C invoicing is different from the B2B e-Invoicing. However, the CBIC vide Notification No. 14/2020 – CT, dated 23rd March 2020 as amended by Notification No. 71/2020 – CT, dated …

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