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- E-invoicing in IndiaWith the final nod from GST Council, electronic invoicing or e-invoicing system shall soon be a reality. A transformational move by the CBIC, e-invoicing in India can help curb tax evasion drastically and also bring efficiency and ease in GST compliance. Not only this but with e-invoicing, India can join the bandwagon of countries worldwide who have adopted universally accepted standards...0 Reacties 0 aandelen 641 Views 0 voorbeeld
- E-invoicing SchemaVersion 1.1 of E-Invoicing Schema released: There are not substantial changes in the new E-Invoicing schema. It has major changes to improve the syntax, parameter definitions and specifications. In most of the cases, descriptions (label) and explanatory remarks are reworked. Following are the changes in the new E-Invoicing schema:0 Reacties 0 aandelen 735 Views 0 voorbeeld
- E-way Bill factsE-way Bill facts E-way Bill generation is a mandatory requirement under GST when goods of Rs. 50,000 or more are being transported from one location to another for inter-state as well as intra-state transactions barring a few exceptions. It is an effective tool to track the movement of goods and check tax evasion. And there are penalties for non-generation of E-way Bill as per the...
- Effect of E-Invoicing on ITC ClaimAn e-invoice will be considered valid once an IRN is generated for the same. Further, it is necessary to get the IRN and QR code printed on the final invoice. Thus, when you are on the receiving side of the invoice cycle, having IRN for an invoice will be necessary to claim ITC. Now, the e-invoice mandate, as we know, is applicable to suppliers having turnover above ₹ 500 cr. Invoices...0 Reacties 0 aandelen 628 Views 0 voorbeeld
- GSP for E-InvoicingTo communicate with the E-invoice system for registering your invoices, it is important to have API access. Companies having turnover more than 500 cr. have two options – one is “Direct API Access” and second is “API access through GSP”. But companies having turnover between 100 cr. to 500 cr. have only one option i.e., “API access through GSP”. So,...0 Reacties 0 aandelen 531 Views 0 voorbeeld