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"Every eligible business must follow the steps given above strictly to avoid penal consequences." "An electronic invoice or e-invoice is a tax invoice declared by a GST-registered business with the ...

"B2C is the second chapter. In B2B, we see lot of fake invoices, which is a challenge to increase the GST collection," he added. The Goods and Service Tax Network (GSTN) recently released a detailed ...

Around 69.5 lakh Invoice Reference Numbers (IRN)s have been generated by 71,000 users in the first week of implementation of goods and services tax (GST) e-invoicing system. 2- On the first day of the ...

The fourth phase of e-Invoicing in India began on 1st April 2022, spanning several Micro, Small, Medium Enterprises (MSMEs). It shall apply to businesses with more than Rs.20 crore turnover, earned in ...

New Delhi, May 28 () The GST Council has set up two sub-groups to look into the policy and technical aspects, such as turnover threshold and mode of generation, for e-invoice generation by businesses.

The GST Council, on September 29, 2019, has approved the introduction of ‘E-invoicing’ or ‘electronic invoicing’ for business to business (B2B) transactions from January 1, 2020. Once implemented, it ...

The new GST electronic invoice system is aimed at reducing GST manipulations through fake invoices, but the changes that the government is bringing to the system are posing challenges to businesses on ...

Now businesses have a very convenient tool to check the authenticity and validity of an e-invoice sent by suppliers. The Goods and Services Tax Network (GSTN) has authorised five official mobile ...

NEW DELHI: GST Network CEO Prakash Kumar on Friday said e-invoicing and the new format for filing GST will help improve the ease of doing business and reporting for the indirect taxes. "E-invoicing is ...