Introduction Hospital organizations have been facing difficulties and challenges in balancing limited resources and costs to provide their demand for services. Medical research has the effect in introduction of modern medical techniques and medicines, which usually causes the increase of consumed costs. Increasing costs of healthcare systems have the growing demands on the public budgets, and also the patient’s expenditures. Many countries start to seek the alternative sources of financing of healthcare systems, because the traditional systems of healthcare insurances are no more sufficient for covering of expansive healthcare services costs.
Audit by Chartered Accountant or a Cost Accountant: Every registered person whose aggregate turnover during a financial year exceeds two crore rupees has to get his accounts audited by a Chartered Accountant or a Cost Accountant and furnish a copy of audited annual accounts and a reconciliation statement, duly certified, in FORM GSTR-9C.
Credit note: In cases where tax invoice has been issued for a supply and subsequently it is found that the value or tax charged in that invoice is more than what is actually payable/chargeable or where the recipient has returned the goods, the supplier can issue a credit note to the recipient. Debit note: In cases where tax invoice has been issued for a supply and subsequently it is found that the value or tax charged in that invoice is less than what is actually payable/chargeable, the supplier can issue a debit note to the recipient. Any registered person who issues a debit note in relation to a supply of goods or services or both, shall declare the details of such debit note in the return for the month during which such debit note has been issued and the tax liability shall be adjusted in such manners may be prescribed.
Under the GST regime, a tax invoice means the tax invoice referred to in section 31 of the CGST Act, 2017. For example, if a registered person is making or receiving supplies (from unregistered persons), then a tax invoice needs to be issued by such registered person.
