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The simplicity of business operation for MSMEs In October month the electronic invoicing system (e-invoicing) completed its one-year journey. Towards the micro, small and medium enterprises (MSMEs) business faces the rise and fall through this journey. The framework is tough to work on for the newly arrived people. E-invoicing has been executed by the Indian […]
The launching of e-Invoicing has been a game-changer considering the facts and circumstances in India. It has been a sort of new revolution that shall transform and smoothen. Let’s understand the aforesaid transformation with the statistics related to eight months posts the launch of e-invoicing. There are nearly one lakh suppliers who have utilized e-invoicing […]
The simplicity of implementing the business for MSMEs: it will not affect the businesses whose turnover is Rs 50 cr to generate the e-invoices however towards the micro and small businesses who do not invest in technology and do not have the digital systems, as per the President, Federation of Indian Micro and Small & […]
Now making ‘Kacha bills’ for the purpose of underreporting sales volume and thus doing tax evasion shall become a phenomenon of the past and it shall soon be replaced by GST e-invoicing from April 1 onwards — for firms having turnover of more than INR 50 crores. Currently, the threshold for e-invoicing is INR 100 […]
For digital conversion, e-invoicing is an opportunity, it is one of the opinions of the government’s ‘Digital India’ operations. The fresh system of an invoice carries diverse benefits and is approved via government, for both the government and assessee and assists to enhance the simplicity of doing business. As the launch of the platforms for […]
The e-invoicing before GST has picked up the speed in its 2nd month with the generation of the bill stating a growth of 17% in November as compared to October. It indicates the 2nd phase for e-invoicing that is to make it important for those whose turnover exceeds Rs 100 cr and more from Jan […]
E-invoice will come into action from October 2020, and after its inclusion businesses having turnover INR 500 crores or above have to generate invoices through a centralized Government portal. As per a recent update, a meeting between a high-level group of ministers will be organized where they will discuss GST E-invoicing Know the step by […]
On July 30, 2020 Thursday, the Central Board of Indirect Taxes and Customs ( CBIC ) released a notification and introduced the “Schema for E-Invoice” for imposing the e-invoicing. It is for electronically-authenticated invoices, which will be implemented from October 1, 2020, only for entities businesses having a turnover of ₹ 500 cr. According to […]
On Saturday, the GST Council asked Infosys to upgrade the IT system of GST by July 30, 2020, and extended the launch date of the e-invoicing system till September 30, 2020. Nandan Nilekani, the non-executive chairman of Infosys, suggested in a presentation that for the ease of roll-out of the new tax system, a progressive […]
