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Important GST Updates from FY 2021-22

Big GST Changes in FY 2021-22 Under E-Invoice, QRMP, HSN & More

It is important to file the returns for every trader who used to import or export their things manufactured or non-manufactured. There are some of the objectives and guidelines are given by the government which everyone needs to learn on the behalf of filing the taxes. The GST assessee is needed for various objectives in […]

Mandatory HSN or SAC Code from 1st April 2021

Turnover INR 5cr in FY Required to File HSN/SAC Code on B2B Invoices

Since from 1st April 2021 it is important for the GST assessee who posses the turnover exceeds 5 cr in the before fiscal year, to file 6 digits HSN Code (Harmonised System of Nomenclature Code), or as the case may be, SAC (Service Accounting Code) upon the invoices provided for the supplies of taxable goods […]

New Challenges for MSMEs Due to E-invoicing

FISME: More Challenges Yet to Come for MSMEs Due to GST 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 & […]

GST Invoicing Software Features

Smart Features: Must-Have GST Invoicing Software for Fast Compliance

The Central Board of Indirect Taxes and Customs (CBIC) has already made e-invoicing mandatory for all businesses with a turnover of 5+ crore. CBIC first mandated it for businesses having turnover of 500+ crores in October 2020, for businesses having turnover of 100+ crores in January 2021, 50+ crores in Apr 2022, 10+ Crores in […]

FM Statements for GST Taxpayers

FM: Instructions to Officials for No Cash Payment of Most GST Liabilities

The Finance Ministry said that till date, it has not given any directive to its tax officials to further ask taxpayers to pay the maximum amount of Goods and Services Tax (GST) in cash. As per the news agency of IANS, there are reports in the public that some GST officers are using phone calls […]

GST E-invoice for Companies Over INR 50cr Revenue

GST-Invoicing: New Condition for Companies Having T.O. < INR 50 Crores

The council has filed the e-invoices important for the businesses through the yearly revenue of Rs 50 cr from 1/04/2021. The amendment in the GST act on the recommendation of the GST official has been shown by the finance ministry. GST e-invoicing platform has been executed from 1/Oct/2020 for the businesses through the yearly turnover […]

GST Notices and Summons to Taxpayers

Tax Officers Send Summons to Taxpayers Under Section 70 of CGST Act

Through the present FY, a series of tax notices and summons has been sent to the assessee from the indirect tax council in Mumbai and some other tax zones in the country. The problems via letters and summons have related to the cases in which the assessee has chosen for the solution beneath the Sabka […]

No GST on Power Services by Center

RAJ HC Not Permitted to Levy GST on Some Power Services by Center

Rajasthan High court has canceled the classification provided through the Union government that had permitted the council to impose the goods and services tax (GST) on a particular section of the power supply. There is zero GST rate Grab the information of revised GST slab rates on consumer products in India, Although GST council finalized […]

Aadhaar Authentication Not Necessary for Foreigners

Relief in GST Registration for Foreigners & Government Entities

The foreign individual and the government entities from the compulsory need of Aadhar grounds authentication has been prolonged towards the goods and services tax(GST) enrollment. The Indian people will need to follow the Aadhaar authentication or personal verification route for GST registrationGet to know the complete GST registration procedure online on the Indian government GST […]

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