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

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 ...

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 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 ...

Further, MSMEs can cancel e-invoices or issue e-credit notes and e-debit notes from the platform itself instead of visiting the GST website for any invoice management tasks, CaptainBiz said.

GST invoice verification: New advisory by GSTN in respect of availability of five official apps for e-invoice verification. Experts say that these apps solve a lot of problems like faster ...

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 ...

GST e-invoicing mandatory from October 1: Consequences of non-compliance If an invoice is not registered on the IRP, then such an invoice would not be treated as a valid tax invoice for all GST ...

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.

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 ...