February 3, 2021
Central government is empowered to make or amend rule, whether on recommendation of GST council or otherwise, under section 164 of the (CGST Rules)Central Goods and Service Tax Act, 2017. In accordance with this power, on recommendation of GST Council, Central government on 22nd December 2020, vide notification no. 94/2020, hereby made following rules to amend
February 3, 2021
Table of Contents IntroductionWhy is Input Tax Credit relevant?Journey of Input Tax Credit Rule 36(4)Impact of this Input Tax Credit rule on taxpayerVALIDITY: (Here, validity means how valid and just, rule 36(4) is): -Claim upto 100% Input Tax Credit IntroductionIn the world of GST, Input Tax Credit (Commonly known as ITC) is a big relaxation
January 22, 2021
Electronic invoicing system or e-Invoicing under GST, which is commonly known as e-Invoicing system, is inserted by government to authenticate the invoices generated under B2B transactions. On 20th September 2019, GST Council in its 37th Meeting approved the proposal to introduce E-invoice under GST. Accordingly, from 1st January 2020, it became voluntary and from 1st October 2020