E-Invoicing – How should SMEs prepare for it

Website E-Invoicing – How should SMEs prepare for it Table of Contents The Overview E-Invoicing was first introduced in October 2020 to enterprises with a turnover of more than 500 crore. After a successful run, the government decided to bring more businesses under the ambit of e-invoicing. The idea is to eventually bring all businesses […]

Documents Required For GST Registration

Website Documents required for GST registration Table of Contents The Goods and Services Tax (GST) is an indirect tax paid on the purchase of goods and services. Upon GST registration, the supplier receives a 15-digit GST identification number known as a “GSTIN” as well as a certificate of registration. This number is used by the […]

Rule 39: CGST SGST Rules

Website Rule 39: CGST SGST Rules Table of Contents The process of distributing the input tax credit (ITC) by the input service distributor is described in Rule 39 of the CGST/SGST. Any business that registers under Goods and Service Tax must adhere to Rule 39 of CGST/SGST. Input tax credit, or ITC, means that we […]

Input Tax Credit: A Detail Study

Website Input Tax Credit Table of Contents What Is Input Tax Credit (ITC) One of the most important aspects of GST is the seamless flow of input credit across the supply chain (from the manufacture of goods to their consumption) and across the country. Input tax credit means that when you pay tax on output, […]