2 GST Invoice

GST Invoice

Everything a business needs for E-invoicing under GST

Goods and Services Tax - E-invoicing under GST or electronic invoicing is the invoice document exchange between a supplier and a buyer in an integrated electronic format. The government of India announced on October 2022 as India moves towards complete digitalization it is mandatory for businesses above 10 crores to file for e-invoices. In the near future governm...

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Penalty on Issuance of Fake Invoice and Wrong ITC Claim

Goods and Services Tax - This article describes the Fake GST Invoice and measures to address them. Also it helps to understand the applicability of GST Penalty on Fake Invoicing or ITC claim. It will also helpful to understand penalty imposition of Penalty u/s 73(5) and 74(5) or Section 122 of GST Act 2017. Introduction : In recent years, many […]...

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GST implication on rent of Immovable properties

Goods and Services Tax - Time of Supply of Services U/S 13 of CGST Act, 2017 The time of supply of services shall be the earliest of the following- 1. Date of issue of invoice, if issued within specified time u/s 31(2) read with is days for relevant rules 30 days or 45 Insurance, Banking & NBFC from date of supply, or 2. […]...

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E-Invoicing- Is it appropriate to upload Complete manual JSON file of GSTR-1?

Goods and Services Tax - Is it appropriate to upload complete manual JSON file of GSTR-1 in case of those taxpayers which are subject to E-Invoicing ? Rule 48(4) of the CGST Rules 2017, mandates certain notified registered persons to upload specified particulars of Invoice in FORM GST INV-01 and obtain an Invoice Reference Number (IRN). Currently, it is mandatory...

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Tax Invoice, Debit Note And Credit Note under GST

Goods and Services Tax - Section 31 and Section 34 of the CGST Act 2017 explain about Tax Invoice, Debit Note And Credit Note 1.Tax Invoice It is issued by supplier of goods or services at the time of supply. A. Supply of Goods Section 31 of the CGST Act 2017 Tax invoice.— (1) A registered person supplying taxable goods […]...

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No proposal to reduce GST e-invoice threshold limit to Rs. 5 Crore

Goods and Services Tax - There is no proposal before Government, to reduce GSTE-Invoice threshold limit to Rs 5 Crore with effect from 01.01.2023, as no such recommendation has been made by GST Council...

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e-Invoice services not available for GST taxpayers of Few States today

Goods and Services Tax - There is a maintenance work being scheduled on the e-Invoice System on 5th June 2022 between 9pm and 10pm. During this interval, the e-Invoice services will not be available for the GST taxpayers of the following states ONLY. State Code State Name State Code State Name 9 UTTAR PRADESH 16 TRIPURA 10 BIHAR 17 MEGHALAYA […]...

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2- Factor Authentication for e-Way Bill and eInvoice System

Goods and Services Tax - To enhance the security of the e-Way Bill/e-Invoice System, NIC is introducing 2-Factor Authentication for logging in to the e-Way Bill/e-Invoice system. In addition to username and password, OTP will also be authenticated for login. There are 3 different ways of receiving the OTP. You may enter any of the OTP and login to system. [&helli...

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Threshold turnover of e-invoice under GST reduced

Goods and Services Tax - With the recent amendment made vide Notification No. 01/2022 – Central Tax dated 24-02-2022, more taxpayers will come under the ambit of compulsory issuance of e-invoice, as the threshold limit of turnover is being reduced to 20 Crores w.e.f 1st April 2022. The mechanism of e-invoicing was introduced in the year 2020 wherein the taxpaye...

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Tax payers with turnover between Rs. 20 Cr to Rs. 50 Cr enabled for testing on Sandbox

Goods and Services Tax - Tax payers with turnover between Rs. 20 Cr and Rs. 50 Cr are enabled for testing on Sandbox As per the notification No. 01/2022-Central Tax Dated :24-02-2022, e-Invoicing is mandatory for the taxpayers with annual turnover more than Rs.20 crores from 1st April 2022. The taxpayer can check his eligibility of e-Invoicing at Option Search [&...

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HC allows Anticipatory Bail in alleged GST evasion of Rs.100 Cr

Nitin Verma Vs State of U.P. (Allahabad High Court) - Where the implication of a person was for a non-bailable offence, he could apply for anticipatory bail. If the applicant cooperated with the inquiry, there was no requirement of his arrest. Assessee was having his own address of residence and business. He could give surety ensuring his appearance. T...

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Fake ITC: HC modifies Bail Conditions considering COVID-19

A. Mohideen Vs The Senior Intelligence Officer (Madras High Court) - HC modify Conditions of Bail considering the inability of accused to comply with same due to COVID-19....

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HC denies Anticipatory Bail for evading GST by not Raising Tax Invoices

Smt. Jecintha Pillaivs Vs State of Telangana (Telangana High Court) - It is apparent that the petitioners are not cooperating with the investigation. The petitioners preferred the present petition on assumptions and presumptions with a view to avoid the statutory proceedings. The nature of financial frauds is complex in nature and requires examining several evidences ...

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Proceeding against issue of Fake Invoice to illegally avail ITC not hit by Limitation under Section 6(2)(1)(b) of CGST Act 2017

Dadhichi Iron And Steel Pvt. Ltd. Vs Chhattisgarh GST (Chhattisgarh High Court) - This Court does not find any substance in the arguments of the petitioner, when they say that the investigation and the proceedings now initiated is one, which hit by Section 6(2)(1)(b) of the CGST Act of 2017. What has also to be appreciated is the fact that there is a clear distinction between a p...

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HC grants Bail to Practicing Advocate allegedly involved in Fake GST Invoice Scam

Rajesh and another Vs State of Haryana (Punjab and Haryana HC) - It appears that petitioner Satnarain had rendered his professional services and assistance for the purpose of incorporation of the firms. At this stage, it cannot be said that he had joined hands with Rajesh Mittal or was beneficiary of any amount other than his professinal fee....

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Taxability of No Claim Bonus & applicability of GST e-invoicing

Circular No. 186/18/2022-GST - (27/12/2022) - Clarification on Taxability of No Claim Bonus offered by Insurance companies and applicability of e-invoicing w.r.t an entity vide Circular No. 186/18/2022-GST Dated 27th December, 2022. Circular No. 186/18/2022-GST Dated 27th December, 2022 F. No. CBIC-20001/2/2022 – GST Government of India ...

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GST E-invoice limit reduced to Rs. 10 Crores wef 01/10/2022

Notification No. 17/2022-Central Tax [G.S.R. 612(E)] - (01/08/2022) - With effect from 1st October, 2022, Every registered taxable person whose aggregate annual turnover exceeds Rs. 10 Cr in any of the financial year since 2017-18 shall liable to issue E-Invoice. Earlier the limit was Rs. 20 Croroes. The registered person who is required to issue E-Invoice shall uploa...

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E-invoice mandatory if Turnover exceeds ₹20 crores wef 01.04.2022

Notification No. 01/2022-Central Tax [G.S.R. 159(E)] - (24/02/2022) - GST: Revision of Limit of Aggregate Turnover For E-Invoice W.E.F. 01.04.2022 CBIC made E-invoice under GST mandatory for registered persons having aggregate turnover above ₹20 crore in any of the previous years from 2017-18 till 2021-22 with effect from 01st April, 2022. The existing limit of ₹5...

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Clarification on applicability of Dynamic QR Code on B2C invoices

Circular No. 165/21/2021-GST - (17/11/2021) - Doubt arises whether the relaxation from the requirement of dynamic QR code on the invoices would be available to such supplier, who receives payments from the recipient located outside India through RBI approved modes of payment, but not in foreign exchange....

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CBIC clarifies on issuance of debit note, physical copy of invoice & refund of unutilized ITC

Circular No. 160/16/2021-GST - (20/09/2021) - Whether carrying physical copy of invoice is compulsory during movement of goods in cases where suppliers have issued invoices in the manner prescribed under rule 48 (4) of the CGST Rules, 2017 (i.e. in cases of e-invoice)....

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Recent Posts in "GST Invoice"

Electronic invoice (e-invoice) Under GST

Following supplies are presently covered under e –invoice: Supplies to registered persons (B2B), Supplies to SEZs (with/without payment), Exports (with/without payment), Deemed Exports, by notified class of taxpayers are currently covered under e-invoicing....

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Everything a business needs for E-invoicing under GST

E-invoicing under GST or electronic invoicing is the invoice document exchange between a supplier and a buyer in an integrated electronic format. The government of India announced on October 2022 as India moves towards complete digitalization it is mandatory for businesses above 10 crores to file for e-invoices. In the near future governm...

Read More

Penalty on Issuance of Fake Invoice and Wrong ITC Claim

This article describes the Fake GST Invoice and measures to address them. Also it helps to understand the applicability of GST Penalty on Fake Invoicing or ITC claim. It will also helpful to understand penalty imposition of Penalty u/s 73(5) and 74(5) or Section 122 of GST Act 2017. Introduction : In recent years, many […]...

Read More

GST implication on rent of Immovable properties

Time of Supply of Services U/S 13 of CGST Act, 2017 The time of supply of services shall be the earliest of the following- 1. Date of issue of invoice, if issued within specified time u/s 31(2) read with is days for relevant rules 30 days or 45 Insurance, Banking & NBFC from date of supply, or 2. […]...

Read More

E-Invoicing- Is it appropriate to upload Complete manual JSON file of GSTR-1?

Is it appropriate to upload complete manual JSON file of GSTR-1 in case of those taxpayers which are subject to E-Invoicing ? Rule 48(4) of the CGST Rules 2017, mandates certain notified registered persons to upload specified particulars of Invoice in FORM GST INV-01 and obtain an Invoice Reference Number (IRN). Currently, it is mandatory...

Read More

Tax Invoice, Debit Note And Credit Note under GST

Section 31 and Section 34 of the CGST Act 2017 explain about Tax Invoice, Debit Note And Credit Note 1.Tax Invoice It is issued by supplier of goods or services at the time of supply. A. Supply of Goods Section 31 of the CGST Act 2017 Tax invoice.— (1) A registered person supplying taxable goods […]...

Read More

Taxability of No Claim Bonus & applicability of GST e-invoicing

Circular No. 186/18/2022-GST 27/12/2022

Clarification on Taxability of No Claim Bonus offered by Insurance companies and applicability of e-invoicing w.r.t an entity vide Circular No. 186/18/2022-GST Dated 27th December, 2022. Circular No. 186/18/2022-GST Dated 27th December, 2022 F. No. CBIC-20001/2/2022 – GST Government of India Ministry of Finance Department of Revenu...

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No proposal to reduce GST e-invoice threshold limit to Rs. 5 Crore

There is no proposal before Government, to reduce GSTE-Invoice threshold limit to Rs 5 Crore with effect from 01.01.2023, as no such recommendation has been made by GST Council...

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Analysis on under-invoicing of Imports into India

In today’s age of globalization, imports from and exports to other countries have provided the consumers with a choices galore. Items are imported and exported by a country from/to the other country on the basis of the competitive advantage they have on the particular items. Sometimes, this increased trading activity also brings across ...

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All about e-Invoice and other such instruments in GST

As per Rule 48(4) of the CGST Rules, notified class of registered persons have to prepare invoice by uploading specified particulars of invoice (in FORM GST INV-01) on Invoice Registration Portal (IRP) and obtain an Invoice Reference Number (IRN)....

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