An E-Way Bill (EWB) is short for Electronic Way Bill. A person registered under GST is required to generate one if they wish to transport goods in a vehicle where the value exceeds Rs. 50,000 in a single invoice/bill or a delivery challan.  The objective of introducing EWBs is to allow a common permit for the movement of goods throughout the country.The E-Way Bill login portal is a common portal by the government for taxpayers and transporters to generate and cancel e-way bills. Latest Update29th August 2021From 1st May 2021 to 18th August 2021, the taxpayers will not face blocking of e-way bills for non-filing of GSTR-1 or GSTR-3B (two months or more for monthly filer and one quarter or more for QRMP taxpayers) for March 2021 to May 2021.4th August 2021Blocking of e-way bills due to non-filing of GSTR-3B resumes from 15th August 2021.1st June 20211. The e-way bill portal, in its release notes, has clarified that a suspended GSTIN cannot generate an e-way bill. However, a suspended GSTIN as a recipient or as a transporter can get a generated e-way bill. 2.

50th GST Council meeting was held on 11th July 2023 at Vigyan Bhawan, New Delhi. It marks the completion of 50 Council meetings since the inception of GST. Union FM Nirmala Sitharaman led the 50th GST Council meeting in the presence of ministers representating their states and Union Territories. To mark the milestone of the 50th GST Council meeting, the Chairperson released a short video film titled ‘GST Council- 50 steps towards a journey’ in the presence of the Council members. The postal department also released the first set of a special cover and customised ‘My Stamp’, which were presented by the Chief Postmaster General, New Delhi, to the Chairperson and members of the Council. Read on to get all the updates from the 50th GST Council meeting.Highlights of the 50th GST Council MeetingThe 50th GST Council meeting covered three important matters under the GST law.

Taxpayers may need a ready reckoner of e invoice error code list and solutions when they face errors while reporting the B2B invoices to IRP for generating e-invoices.This article lays down the list of common e invoice errors while reporting the invoices to IRP and the resolution for the same, just like GST error code.E-invoicing errors can be avoided with Clear e-Invoicing Solution- Fast, Dependable and Affordable! Visit our website link- einv.cleartax.inLatest Updates10th May 2023CBIC notified the 6th phase of e-invoicing. Hence, taxpayers with ₹5 Cr+ turnover in any financial year from 2017-18 shall issue e-invoices w.e.f 1st August 2023.06th May 2023The GST department has deferred the time limit of 7 days to report the old e-invoices on the e-invoice IRP portals by three months. Further, the department is yet to announce the new implementation date.13th April 2023The GSTN released an advisory on 12th and 13th April 2023 stating that taxpayers with an annual turnover of Rs.100 crore and more must report tax invoices and credit-debit notes to the IRP within 7 days from the date of issue of the invoice/CDN from 1st May 2023.1st August 2022 The e-Invoicing system for B2B transactions has now been extended to those with an annual aggregate turnover of more than Rs.10 crore up to Rs.20 crore starting from 1st October 2022, vide notification no. 17/2022. Common errors while generating e-Invoices under GSTFollowing is the e invoice error code list and resolutions-E-invoicing Error codeE-invoicing Error messageReason for E-invoicing ErrorResolution2150Duplicate Invoice Reference NumberTaxpayer uploading the same invoice which is already registered and IRN is generated.To avoid this error, don’t send the same request simultaneously. Wait for the IRN and update the system with the same.

A significant change that GST introduced was the mechanism of input credit under GST. @media (max-){.protip {flex-direction: column !important;}.item2 {padding-left: 20px;padding-right: 20px;}}.protip {display: flex;flex-direction: row;flex-wrap: nowrap;margin: 10px;padding: 20px 0px;border: 1px solid #ccc;background-color: #c4eaff;}.item {display: flex;justify-content: center;flex: 0 1 auto;margin: 2%;padding-right: 2%;padding-left: 2%;align-self: center;}.item2 {flex: 1 1 auto;padding-right: 20px;}Pro Tip: Get up and running with e-Invoicing in 3 minutes Request a free demo document.addEventListener('DOMContentLoaded', () => { let proTip = document.getElementById('proTip-link'), utm_campaign = "inine_cta",utm_source="e-invoicing-system-comparison-gst",utm_medium="content"; proTip.href = `https://cleartax.in/s/contact-sales?pageCategoryType=maxitc&utm_source=${utm_source}&utm_medium=${utm_medium}&utm_campaign=${utm_campaign}&ref=${window.location.href}` });  Latest Updates1st February 2022Budget 2022 updates-1. ITC cannot be claimed if it is restricted in GSTR-2B available under Section 38.2. Time limit to claim ITC on invoices or debit notes of a financial year is revised to earlier of two dates. Firstly, 30th November of the following year or secondly, the date of filing annual returns.3.

Reverse charge is a mechanism where the recipient of the goods or services is liable to pay Goods and Services Tax (GST) instead of the supplier.Latest updates50th GST Council meeting   In the 50th GST Council meeting held on 11th July 2023, the following decisions were taken with regard to the reverse-charge mechanism under GST*-1. That the supply of raw cotton by agriculturists to cooperatives, including kala cotton, will be taxable under the reverse charge mechanism. 2. That services supplied by a director of a company to the company in their personal or private capacity will not be taxable under RCM.*These decisions will come into force once notified by the CBIC.  What is Reverse Charge Mechanism?Typically, the supplier of goods or services pays the tax on supply. Under the reverse charge mechanism, the recipient of goods or services becomes liable to pay the tax, i.e., the chargeability gets reversed.The objective of shifting the burden of GST payments to the recipient is to widen the scope of levy of tax on various unorganized sectors, to exempt specific classes of suppliers, and to tax the import of services (since the supplier is based outside India).Only certain types of business entities are subject to the reverse charge mechanism. Find out the business constitution of any GST number using the GST search tool.When is Reverse Charge Applicable?Section 9(3), 9(4) and 9(5) of Central GST and State GST Acts govern the reverse charge scenarios for intrastate transactions.

Goods and service tax or GST will be one tax to subsume all taxes. It will bring in “One nation one tax” regime.  Being a completely new form of indirect taxation there are many questions in the minds of the organizations. One of the most important questions is what is valuation of supply under GST? What will be included in the value of taxable supply on which GST is calculated? Earlier regime In the earlier regime, taxes are calculated on the value of goods/services: TaxValue of goods/services ExciseTransaction value of goods or MRP VATSale Value Service taxTaxable value of service rendered Valuation of supply under GST  Currently, GST will be charged on the ‘transaction value’. Transaction value is the price actually paid(or payable) for the supply of goods/services between un-related parties (i.e., price is the sole consideration) The value of supply under GST shall include: Any taxes, duties, cess, fees, and charges levied under any act, except GST. GST Compensation Cess will be excluded if charged separately by the supplier.Any amount that the supplier is liable to pay which has been incurred by the recipient and is not included in the price.The value will include all incidental expenses in relation to sale such as packing, commission etc.

e invoice verification app, released by the NIC, allows users to verify the authenticity of an e-invoice based on the QR code appearing on it. A QR code is a two-dimensional Quick Response code in a machine-readable format. It is mandatory that the signed QR code appears on all e-invoices to provide simplified access to eligible GST invoices. Read on to know more about the QR code verification App and how to verify e-invoice.Latest Updates9th June 2023The GSTN has launched an ‘e-Invoice QR Code Verifier’ app on Google Play Store to enable users to quickly and conveniently verify e-invoices. The user-friendly app will authenticate the information embedded in the QR code, which can be compared with the information printed on the e-invoice.

IRP, known as the Invoice Registration Portal is instrumental in validating the genuineness of the invoices used in the GST ecosystem. It generates and assigns IRN to every GST invoice.The infrastructure to support the trial version of the e-invoicing system was first made available for voluntary use from 1st January 2020. The Invoice Registration Portal (IRP) plays a key role in running the show.Latest Updates10th May 2023CBIC mandated e-invoicing for taxpayers with ₹5 Cr+ turnover (in any financial year from 2017-18) w.e.f 1st August 2023.06th May 2023The GST department has deferred the time limit of 7 days to report the old e-invoices on the IRP portals by three months. Further, the department is yet to announce the new implementation date.13th April 2023As per the GST Network's advisories dated 12th April 2023 and 13th April 2023, taxpayers with annual turnover equal to or more than Rs.100 crore must report tax invoices and credit-debit notes to IRP within 7 days of invoice date from 1st May 2023.11th October 2022The GST Council may implement the next phase of e-invoicing for businesses with an annual turnover of more than Rs.5 crore from 1st January 2023. The system may get extended to businesses with a turnover of over Rs.1 crore by the end of the next fiscal year.1st August 2022 The e-Invoicing system for B2B transactions has now been extended to those with an annual aggregate turnover of more than Rs.10 crore up to Rs.20 crore starting from 1st October 2022, vide notification no.

‘how to generate e invoice’ has been one of the popular questions asked by many taxpayers. e-invoice is a B2B/B2G/export invoice reported by certain applicable GST-registered businesses with the e-invoice portal (GSTN), which must adhere to the standard format notified by the CBIC. This article will take you through the process of the generation of an IRN for e-invoice and also its workflow. @media (max-){.protip {flex-direction: column !important;}.item2 {padding-left: 20px;padding-right: 20px;}}.protip {display: flex;flex-direction: row;flex-wrap: nowrap;margin: 10px;padding: 20px 0px;border: 1px solid #ccc;background-color: #c4eaff;}.item {display: flex;justify-content: center;flex: 0 1 auto;margin: 2%;padding-right: 2%;padding-left: 2%;align-self: center;}.item2 {flex: 1 1 auto;padding-right: 20px;}Pro Tip: Get up and running with e-Invoicing in 3 minutes Request a free demo document.addEventListener('DOMContentLoaded', () => { let proTip = document.getElementById('proTip-link'), utm_campaign = "inine_cta",utm_source="e-invoicing-system-comparison-gst",utm_medium="content"; proTip.href = `https://cleartax.in/s/contact-sales?pageCategoryType=einvoicing&utm_source=${utm_source}&utm_medium=${utm_medium}&utm_campaign=${utm_campaign}&ref=${window.location.href}` }); Latest Updates10th May 2023CBIC notified the 6th phase of e-invoicing. Hence, taxpayers having more than Rs 5 crore turnover in any financial year from 2017-18 shall issue e-invoices w.e.f 1st August 2023.06th May 2023The GST department has deferred the time limit of 7 days to report the old e-invoices on the e-invoice IRP portals by three months.

The e-invoicing system is being implemented in phases. This started with having at least one designated Invoice Registration Portal (IRP) – National Informatics Centre (NIC) and later Clear IRP.einvoice1-trial.nic.in was an e-invoice portal available on a trial basis for taxpayers to get accustomed to using the same. However, since many taxpayers were using this to generate their actual e-invoices, the government withdrew this website. @media (max-){.protip {flex-direction: column !important;}.item2 {padding-left: 20px;padding-right: 20px;}}.protip {display: flex;flex-direction: row;flex-wrap: nowrap;margin: 10px;padding: 20px 0px;border: 1px solid #ccc;background-color: #c4eaff;}.item {display: flex;justify-content: center;flex: 0 1 auto;margin: 2%;padding-right: 2%;padding-left: 2%;align-self: center;}.item2 {flex: 1 1 auto;padding-right: 20px;}Pro Tip: Get up and running with e-Invoicing in 3 minutes Request a free demo document.addEventListener('DOMContentLoaded', () => { let proTip = document.getElementById('proTip-link'), utm_campaign = "inine_cta",utm_source="e-invoicing-system-comparison-gst",utm_medium="content"; proTip.href = `https://cleartax.in/s/contact-sales?pageCategoryType=einvoicing&utm_source=${utm_source}&utm_medium=${utm_medium}&utm_campaign=${utm_campaign}&ref=${window.location.href}` });  Latest Updates10th May 2023CBIC notified the 6th phase of e-invoicing. Hence, taxpayers having more than 5 crore turnover in any financial year from 2017-18 shall issue e-invoices w.e.f 1st August 2023.06th May 2023The GST department has deferred the time limit of 7 days to report the old e-invoices on the IRP portals by three months.