Frauds involving fake GST invoices are on the rise. These are primarily carried out by non-existent taxpayers that set up a network of firms to steal Input Tax Credit (ITC). Although these cases may not have too many short-term effects on the economy, the long term effects are unknown and unimaginable. While the Government is … Read moreHow To Check For Fake GST Invoices?
As per the GST Act, every registered taxpayer needs to issue the GST invoice for the supply of goods or services. GST Invoice acts as a proof of supply of goods or services, yet it is additionally a vital document for the recipient to avail Input Tax Credit (ITC). In this we will discuss all … Read moreGST Invoice Guide: Components, Format and Time to Issue
Invoice is an important part of the GST ecosystem as it contains all the important information such as HSN/SAC Code, GST amount, quantity and so forth. It is normal to face a situation where an invoice has been wrongly issued, or where you need to revise the tax invoice under GST. All such revision of … Read moreRevised Tax Invoice under GST
This article discusses the following in detail: What is a GST Invoice? Tax Invoice Under GST Bill of Supply Under GST Revised Invoices Copies of Tax Invoices What is a GST Invoice? A GST invoice is a document that will capture all the relevant details of a business transaction including information about both parties. It … Read moreInvoices under GST