The process of generating or raising an e-Invoice involves several stages: ERP System Configuration: Process of getting an e invoice The taxpayer ensures that their ERP system is reconfigured according to PEPPOL (Pan-European Public Procurement Online) standards. They may coordinate with their software service provider to incorporate the standard e-Invoicing schema and include mandatory parameters … Read more
Introduction: GST ITC Setoff Rules Navigating the labyrinth of Tax regulations can be daunting, especially when it comes to the intricate setoff rules of the Goods and Services Tax (GST). Understanding the nuances of GST setoff is essential for businesses and individuals alike to optimise tax liabilities and ensure compliance with regulatory requirements. In this … Read more
Easy Way penalty for wrong address in E- WAY bill In the realm of modern commerce, where transactions often transcend geographical boundaries, the efficient movement of goods is crucial. With the advent of digitalization, the Indian government introduced the E-Way Bill system, a digital documentation mechanism aimed at facilitating the seamless movement of goods across … Read more
Introduction to GSTR-9C: GST Tax Audit Form GSTR-9C serves as a vital tool for taxpayers in reconciling their annual GST returns filed under GSTR-9 with the figures presented in their audited financial statements for the respective financial year. GST Tax Audit This reconciliation statement holds particular significance for entities subjected to an annual account audit, … Read more
Introduction to GSTR-9 GST Annual Return Filing GSTR-9 Filing GSTR-9 stands as a crucial yearly report mandated for registered taxpayers under the Goods and Services Tax (GST) regime. This comprehensive report encapsulates all business transactions conducted throughout the year, encompassing purchases, sales, and various taxes such as CGST (Central Goods and Services Tax), SGST (State … Read more
