On and from 1st August 2023, a new mandate has been put in place by the GOI, making GST e-invoicing essential for all registered persons whose aggregate turnover (based on PAN) in any prior fiscal year from 2017-18 onwards exceeds 5 crores.  The Central Board of Indirect Taxes and Customs (CBIC) has taken a significant...Read More

How do businesses ensure that they get paid on time? By creating Invoices on time! Invoices are a crucial part of every business transaction since they serve as proof of the supply agree upon between the buyer and the seller. The availability of data on sales volume, shipping date, price, and discounts creates transparency. However,...Read More

In this ever-changing business environment, the e-invoice system was a game-changer move by the government of India to bring all businesses under the GST e-invoicing in India. In the long run. e-Invoicing will promote standardization and the smooth functioning of businesses.  An electronic invoice or e-invoice is a system under which a registered taxpayer generates...Read More

Invoicing is a crucial part of any business transaction as it works as evidence between the buyer and supplier for the supply made. It contains details like quantities sold, date of shipment, prices, and discounts and ensures transparency. Earlier it was easy for anyone to manipulate the invoices as the process was not transparent, which...Read More

e-Invoicing was a win-win move brought by the government to maximize the benefit to every stakeholder involved like the buyers, sellers, or the government. Before e Invoicing, it was tough for Corporate Businesses to stick to compliance, reporting, and business management for the following reasons Multiple reporting Earlier, there was no fixed format for invoices,...Read More

E invoicing under GST became mandatory for businesses having an aggregate turnover of more than Rs.500 crore in a financial year effective from 1st October 2020. Later it became applicable to taxpayers having a turnover of more than Rs.100 crore effective from 1st January 2021. From 1st April 2021, it applies to businesses whose turnover...Read More