Here are the 10 points that you should remember related to e-invoice and QR code under GST: 1. A new invoicing system has been introduced in the GST taxation system on 1st October 2020. A standardized protocol is enabled to generate and validate invoices electronically. 2. An e-invoice raised by a supplier can be read …
As per the recent mandate every taxpayer whose aggregate turnover exceeds INR 20 crores in any FY needs to implement e-Invoicing from April 1, 2022. In this article, we will try to explain how you will get a Signed QR code under e-invoicing? Steps Involved in Obtaining Signed QR Code As per the mandate, the …
E-invoicing is an innovative system implemented by many countries across the globe to standardize the communication of data. More than 100 countries have already implemented an e-invoicing system. In India, the e-invoicing system got implemented on 1st October 2020. The E-invoicing system is regarded as a major tax reform under GST because it will standardize …
Goods and Services Tax (GST), a major reform in the field of indirect taxation, was implemented almost 3 years ago and the technology vertical appears to be still in the growing stage. The GST laws are getting structured and reformed with each GST Council Meeting in order to make them more feasible. And, this is …
As per the recent mandate, the new e-invoicing system will be implemented on INR 20+ Crores taxpayers from April 1, 2022. Thus, you might come across several changes in ERPs due to the e-invoicing system. Keeping this in mind I have tried to list all the possible changes in ERPs that you might come across …
As per the recent mandate, all the registered taxable persons whose aggregate turnover exceeds INR 20 crores in any previous financial years are required to generate an e-invoice under GST for all B2B and export supplies from April 1, 2022. But the question arises, what will be the consequences and penalties of non-compliance with GST …
The concept of dynamic Quick Response (QR) Code under GST was introduced by CBIC through Notification No. 14/2020 – Central Tax on 21st March 2020. Moreover, the government has decided to launch the dynamic QR code concept from 1st December 2020. So, in this blog, we will try to explain the dynamic QR code concept …
As we already know that the new e-Invoicing mandate will come into effect from April 1, 2022, for all those taxpayers whose aggregate turnover exceeds the INR 20 Crores mark. So keeping this in mind we have listed out 9 critical challenges that you may face under the new e-invoicing system. ERP System IntegrationEvery taxpayer …
From April 1, 2022, every taxpayer whose turnover exceeds INR 20 Crores needs to generate e-invoices for their B2B supplies and exports. However, the main concern is whether e-invoicing is a win-win solution for the suppliers, buyers, and government? Let us unravel the truth. WHAT IS E-INVOICING? Currently, most of the businesses create and manage …
