April 17, 2021

Table of Contents Verifying the genuineness of the supplier via details mentioned on the tax invoice-(GST Verification) GSTIN Verification of the supplier Verification of the genuineness of the supplier via the GST portalFacility to search by GSTIN/ UIN of the supplierFacility to search by PAN of the supplierSynopsis- Tax evasion via bogus firms; fake invoices or claiming fraudulent input

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April 15, 2021

Table of Contents Who should be called a Defaulting Supplier?Possible Reasons for the Supplier to NOT file his ReturnsHow do I Identify Defaulting Suppliers?Purchase Data vs. GSTR-2B ReconciliationWhat happens if we don’t find the Defaulting Suppliers?In a Nutshell… Defaulting Suppliers can be a major headache for businesses whose cash flow gets affected due to the

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April 10, 2021

Table of Contents Transaction Classification by the ERP SolutionSeparate B2B & B2C InvoicesIdentify IRN, QR Code in the e-Invoice GeneratedMandatory Fields as per e-Invoice SchemaReconciliation of GSTR-1 against Your Sales RecordsKeeping Trail of Cancelled InvoicesArchiving Your InvoicesTo Summarize Starting April 1st 2021, the businesses with annual aggregate turnover above 5 Cr are now a part

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April 7, 2021

Table of Contents ERP System Integration e-InvoicingSeparating B2B from B2C Invoicese-Invoice Cancellation & Amendmente-Invoice vs. GSTR-1 ReconciliationB2C Invoices are Exempted From e-Invoice Generatione-Invoice Data ArchivingIT Infrastructure AvailabilityTo Summarize The government and the GST Council are making constant efforts to ease out the experience of the taxpayers and to encourage transparency in the overall filing process.The

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April 7, 2021

e-Invoicing has now been familiar to all the businesses as the majority of the businesses are now falling under the ambit of e-invoicing under GST. w.e.f. 1st of April, 2021, all the businesses whose aggregate turnover falls above INR 50 Cr. annually, are eligible for e-Invoicing now. The plans of the Government seem to be going in

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