The stringent norms and elaborated format of invoicing under GST, aimed to capture the minutest of the detail in a transaction were a nightmare and ate lot of precious time for the B2C businesses, which issue bulk invoices. Feeling the honest pinch and to make the proceedings smoother and fast, the GST Council has consented … Read moreGST Invoicing Norms Relaxed
What is GSTR 3B? GST law finally came into existence with effect from July 1st, 2017. However, anticipating the lack of IT infrastructure preparedness and to calm the initial taxpayer anxieties, the union finance minister Mr. Arun Jaitley on June 18th, 2017 announced that the GST return filing requirements have been relaxed for the first … Read moreGSTR 3B Guide
All goods and services [over 1700], transacted in India will fall under two coding systems – HSN code system and SAC code system. All the goods will fall under HSN category and the services under SAC. These items will attract any one of the total 7 tax slabs [ 0%, .25%, 3%, 5%, 12%, 18%, 28% ]. This article aims to give you a comprehensive, yet an easy understanding about each of the above GST tax slabs.
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 which will capture all the relevant details of a business transaction including information about both the parties. … Read moreInvoices under GST