February 23, 2021
Recently, the e-Invoice portal of the Government of India has enabled an option for sandbox testing for businesses whose turnover falls in the bracket of 50 Cr. – 100 Cr. This move indicates that the GST Council may soon start applying e-Invoicing system to the businesses falling under this turnover bracket. It is most likely that
February 17, 2021
Table of Contents List of companies required to apoint internal auditorIn case of GST, a very detailed checking is required.Internal audit in GST: Following areas need to be checked by auditorGSTR-1 Details of Outward SuppliesGSTR-2A Details of Inward supplyGSTR-3B (Monthly/ Quarterly Return)E-way billInput service distributor (ISD) Internal audit in GST is a very crucial aspect
February 15, 2021
India’s first-ever digital budget 2021 was presented by the Finance Minister, Smt. Nirmala Sitharaman, on 1st February 2021.The present article covers the analysis of ‘Goods and Services Tax’ amendments as proposed vide the Finance Bill, 2021.Budget 2021 | CENTRAL GOODS AND SERVICES TAX ACT, 2017 Retrospective expansion in ‘scope of supply’ [new clause (aa) to
February 10, 2021
Table of Contents Budget 2021: Revised Conditions for Input Tax Credit What is the new Budget 2021 update on ITC under GST? What was the GST Act, 2017 provision before Budget 2021?Why is Section-16 (Input Tax Credit) important?Tell me more about the Budget 2021update on Input Tax CreditDo not worry! We’ll put it in simpler words.Important Rules In connection With
February 10, 2021
GST was made as a general Law for everyone, with ease of GST Return Filing compliance. But with the passage of time and emergence of more practical cases, changes are bound to be made.We know that, GST is the most prominent indirect tax, with the highest revenue to the government replacing so many indirect taxes.
February 4, 2021
There are many GST invoice rules under CGST ACT. for example IFF in GST. IFF full form in GST is Invoice Furnishing Facility . IFF enables the small registered person, furnishing the quarterly Form GSTR-1, to file their invoice details on monthly basis. Notably, ‘Invoice Furnishing Facility’ is made effective from 1st January 2021. The present