Input Tax Credit (ITC) has long been a complex terrain for businesses navigating the intricate world of Goods and Services Tax (GST). For enterprises, an accurate input tax credit claim is not just a ...
A fake GST bill is generated by scammers to dupe businessmen and customers, even without any actual supply of goods or services or GST payment. It is basically generated for various fraudulent reasons ...
The IMS will ensure automatic reflection of invoices in relevant GST returns, allowing for real-time cross-verification of supplier data. The GST Council, in its upcoming meeting on December 21, is ...
About 35,000 dealers who were given registration in 2018-19 and 2019-20, having annual GST liability of more than Rs 50 lakh. Gaurav Mohan, Richa Jain There are numerous fraud cases involving GST Fake ...
When the financial year closes, many businesses make bulk purchases in March to optimise their GST outflow, but experts warn that this strategy can backfire. CA Nitin Kaushik explains that input tax ...
https://www.thehindubusinessline.com/economy/invoice-management-system-may-add-compliance-for-gst-assesses-say-tax-experts/article68775504.ece Copy The effort to ...
NEW DELHI: An optional, online system to reconcile transaction details for availing GST credit may soon be made mandatory, according to two persons aware of the development. The invoice management ...
In a renewed crackdown on tax evasion, the income tax department has started re-examining several previously concluded assessment cases. The reassessment cases are largely focused on businesses ...
The Goods and Services Tax Network (GSTN) recently announced a new feature in the Invoice Management System (IMS) on the GST portal. This allows taxpayers to mark credit notes as "Pending" for one tax ...
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