Form ENR-03: Introduced for Unregistered Dealers on E-Way Bill Portal The E-Way Bill (EWB) system now allows unregistered dealers to generate e-Way Bills using Form ENR-03, eliminating the requirement for a GSTIN. This simplifies goods transportation compliance and enhances logistics efficiency. GSTN Issue Notification issued on ENR-03 filing process for Unregistered Persons (URPs) to generate …
GSTN Enable new option available new GSTR-1 filing option available. By checking the box GSTR-1 NIL return filing option was made available by the Goods and Services Tax Network (GSTN) through checking the box rather than generating a summary, All regular and irregular registered taxpayers who make outward supplies of goods and services or both …
What is the system of E-Invoice? There was a lack of a standard invoicing system on the market and the GST Council, in discussion with the ICAI (Institute of Chartered Accountants of India), the statutory body regulating the practice and profession of chartered accountants in India introduced a new requirement with this invoicing system. This …
Impacts of E-Invoicing System for businesses under the GST What is an electronic invoice? The documentation required for e-Invoicing and reporting to the Invoice Registration Portal (IRP): The supplier’s credit notes, Debit notes from retailer, Invoices from suppliers A specific mention should be disclosed under the statute, or any other necessary document, by a specific …
Key features on Auto-population of e-invoice details in GSTR-1/2A/2B/4A/6A Who’s needed to create an E-invoice? Wide Notification No. 13/2020–Central Tax dated 21 March 2020, amended from time to time, any registered person with a cumulative turnover exceeding Rs 500 Cr in any previous FY from 2017 to 18 is needed to create an e-invoice w.e.f. …
Overview of Invoice Furnishing Facility (IFF) Under QRMP Scheme The Invoice Furnishing Facility (IFF) means that small taxpayer uploads their invoices on a monthly basis. On 10.11.2020, the Central Board of Indirect Taxes & Customs (CBIC) notified the Invoice Furnishings Facility via notification number 82/2020-Central Tax. The CBIC introduced the QRMP scheme GST to help …
GSTN taken the measures to track the fake invoice/ dealers/rackets by press realize notified Ministry of Finance issue new Press Release issued on dated December 23, 2020, regarding measures recommended by GST Council to curb fake dealers/invoice rackets notified. The recommendations of the Law Committee as made aware are central to 4 main measures which include: Tightening up …
What is the E-Invoice Mechanism under the GST? ‘Electronic Invoicing’ or ‘E-invoicing’ is a mechanism in which GSTN automatically authenticates B2B invoices for further use on the Common Goods & Service Tax portal. From this portal, all invoice details will be transmitted in real-time to both the Goods & Service Tax portal and the e-way bill …
www.carajput.com; E-way bill Blocking the E-Way Bill creation system if the taxpayer fails to file GSTR-3B returns: The E-Way Bill (EWB) creation system of the taxpayer is entitled to be limited in the situation that the taxpayer fails to file FORM GSTR-3B returns/FORM GST CMP-08 for tax periods of 2 or more. the Taxpayers’ E-Way …
GST is a tax-based destination, i.e. goods/services would be taxed at the place where they are purchased and not at the point of origin. So, the state in which they are consumed would have the right to receive the GST. This, in effect, makes the idea of the place of supply essential to GST, as …