GST: Buyers will not be able to claim input tax credit (ITC) if specified sellers or suppliers do not upload the e-invoice ...

With the government validation, the Input Tax Credit (ITC) on such invoices or debit notes qualify as a genuine one for the corresponding buyer. Recent development in e-Invoicing.

In an advisory, GSTN communicated the time limits with respect to reporting invoices on the e-invoice IRP portals, with effect from May 1, 2023. As per the advisory, taxpayers with PAN-based annual ...

According to GSTN, any e-invoice not uploaded within 30 days will be automatically rejected by the IRP. In practical terms, this means that an invoice dated April 1, 2025, must be uploaded by ...

Upload e-invoices within 7 days after transaction, GSTN tells businesses above Rs 100 cr Under the GST law, businesses cannot avail input tax credit if invoices are not uploaded on the IRP.

In case they accept the invoices without e-invoice compliance from such suppliers then their input tax credit would be denied resulting in GST loss for them to the extent of 18 per cent generally ...

A negative invoice or credit note is a form letter sent from a business/seller to a product buyer. According to BusinessDictionary.com, a credit note states that the business is crediting a ...

GST Network (GSTN) has enabled e-invoicing for taxpayers with Annual Aggregate Turnover (AATO) between ₹5 crore to ₹10 crore. This will help assesses to get ready for new system in advance ...

A debit note is separate from an invoice and informs a buyer of outstanding debts. It can also be created by a buyer when returning goods purchased on credit.