30 day grace period for those who are not yet ready for GST e-invoice : CBIC As a last chance, in the initial phase of implementation of e-invoice, it has been decided that the invoices issued by such taxpayers during October 2020 without following the manner prescribed under rule 48(4), shall be deemed to be valid and the penalty leviable ...
E-invoicing is a new reform which entails the generation of invoices in an electronic format, which facilitates machine readability across ERP and tax systems.
What is the best time to cancel an e-invoice for the supply of goods?
In case of supply of services, Rule 47 of CGST Rules 2017, Part A – Chapter VI is self-explanatory. In case of goods, however, there is a physical goods movement where the tax officials can do a scrutiny of the document / supply. With the revised Rule 48 (Manner of issuing invoice), the supply would be deemed to be invalid if e-invoicing is applicable but not yet done.
Electronic Communication of PDF based copies of shipping Bill CBIC has launched paperless customs exports processing, a move aimed at trade facilitation. Under this Initiative a secure QR code enabled LEO copy and Gate pass will be sent to exporters immediately. Towards that, the Customs department plans to roll out pan-India faceless assessment by December 31 in a phased manner, ...
The success of any SAP implementation is highly dependent on the Application Management Services and the kind of support provided by competent partners. It is important to take necessary steps to apprehend the benefits of SAP investments, deliver true value and reduce total cost of ownership (TCO) by bringing down the cost with advance end user gratification to get enhanced ...
IntroductionAs is well known, electronic invoices (e-Invoices) have been made mandatory by the Government of India with effect from 01 Oct 2020 for all B2B transactions by business entities with a turnover greater than Rs 100 Crore. What this means is that all invoices, generated by companies using their existing ERP/ Accounting System will need to be converted into a ...
SaaS is a popular way of delivering software by licensing or a subscription which enables the consumer not to worry about maintaining the infrastructure. SaaS could be an active business model where the founders create a system specifically for a niche, or as a source of additional revenue, where the company originally develops a system and then issues the same ...
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