Invoice Registration Portal or IRP such as NIC will begin operating from January 2020 to provide e-invoice validation facility to taxpayers.
The taxpayer can claim accumulated ITC due to the inverted tax structure. Here is the guide explaining step by step on how to file GST RFD-01.
IRN is a unique code that validates an e-invoice and is generated through IRP or self by using the hash algorithm. GSTN will monitor the usage of IRN.
GSTN released latest e-invoice format along with the template. Know about the contents of e-invoice, JSON file, optional and mandatory fields in the schema.
Form GSTR-9 Simplified: Due Dates Extended to December 31 - The CBIC has issued a notification simplifying Form GSTR-9 and 9C, making various fields optional. Here is a list of the important chang...
GST Refund Status Online - After filing a GST refund application, here's how you can track the refund status pre and post-login to the GST account and update the bank account details.
The proper officer will hereafter need to communicate details of tax, interest and penalty payable under sec.73 or 74 in Form GST DRC-01A.
The Input Tax Credit (ITC) is to be reversed under various scenarios. The rules have been notified under the Act and know how to calculate ITC reversal.
Credit note & debit note in the new GST returns will have some changes in the way it was reported in GSTR-1 and GSTR-3B. Learn about the differences with example.
MSMED Act fixes a maximum credit period to pay MSME vendors. New GST returns allows small taxpayers to upload invoices by 11th of the month after quarter.
GST Refund process for Exports of both goods & services will become better and seamless under New GST returns system. Know the forms, procedure and impact.
Credit Notes, and Debit Notes require amendments or revisions too. The article will help understand how to make amendments to a Credit note or Debit note and report them in GSTR-1.
There are several challenges in the implementation of the new GST return system. The taxpayer has to use the latest technologies to overcome those issues.
The GST Council approved the introduction of e-Invoicing from 1st Jan, 2020 on a voluntary basis. Here are some (FAQs) Frequently Asked Questions on the e-Invoicing system under GST.
CBIC notified an important rule on GSTR-3B - Provisional ITC will hereafter be allowed only to the extent of 20% of eligible ITC reflected in the GSTR-2A.
New GST returns have brought changes to the reporting of various particulars like using HSN codes, TDS, TCS for e-commerce operators and Advances received.
Comparison of new GST returns with old/present returns for various refund types under GST. Know more about the reporting requirements under new GST returns
Compare between the old and new GST return system to know about changes in reporting of Supplies from Special Economic Zone (SEZ)
Here are the FAQs on Form GSTR-9C. Form GSTR-9C is a reconciliation statement to be filed by taxpayers whose turnover exceeds Rs.2 crore in a FY.
Reverse Charge Mechanism (RCM) comparison between old and new GST returns filing system, there are some changes in reporting supplies under reverse charge mechanism (RCM).