To claim a refund the government has introduced several GST refund applications, one such application form is GST RFD-01. In this blog, we will discuss GST RFD-01 applicability and prerequisites. What is GST RFD-01? GST RFD-01 is a type of GST refund application form that has to be furnished by the taxpayer electronically. Before the …
As we already know that the e-invoicing API helps in interacting ERP with Invoice Registration Portal (IRP). So, in this blog, we will discuss the different types of e-invoicing APIs, preconditions to use APIs, and the benefits of using the same. Types of E-Invoicing APIs There are currently different types of e-invoicing APIs, some of …
As per the mandate issued in the month of October 2020 by CBIC, businesses need to mandatorily mention the HSN code on the GST invoice from 1st April 2021. However, certain guidelines were issued by the government at the time of releasing the mandate to compulsorily mention the HSN Code on invoices. HSN Code Mandatory …
Initially, the government covered all the taxpayers whose aggregate turnover exceeded INR 500 crores. Now, as per the recent mandate, the government is implementing e-invoicing for all those taxpayers whose aggregate turnover exceeds INR 20 crores from 1st April 2022 (read more about this here). So, in this blog, we will look into the checklist …
E-invoicing API is a type of software that helps in exchanging and communicating the data between GSP/ASP and IRP flawlessly. This will help the taxpayer to stay GST compliant. So, in this blog, we will discuss e-invoicing API eligibility and its purpose. Types of APIs There are currently 6 different types of e-invoicing API: Authentication …
As per the recent mandate, every taxpayer whose aggregate turnover exceeds INR 20 Crores and who deals in B2B and export supplies in any preceding financial year from 2017-18 onwards needs to implement e-invoicing from April 1, 2022. In other words, the taxpayer who is covered in this mandate needs to generate an e-invoice as …
Application Programming Interface (API) facilitates the interaction between the taxpayer and the IRP. So, in this blog, we will discuss Modes of E-Invoicing API Integration. Modes of E-Invoicing API Integration Direct API Integration As per the recent mandate businesses with an annual turnover of more than INR 20 crores need to implement e-invoicing from 1st …
The Government of India is introducing the new e-invoicing system in a phased manner with an objective to ease the compliance burden on the taxpayer, reduce tax evasion incidents and other benefits. So, in this blog, we will compare both the old invoicing system and the new e-Invoicing system. Old Invoicing system Vs New E-Invoicing …
The Government of India is implementing an e-invoicing system for a different types of taxpayers in different phases: 1st Phase of e-invoicing covered all the taxpayers whose aggregate turnover exceeded INR 500 Cr during any previous FY. The first phase of e-invoicing got implemented on 1st October 2020. 2nd Phase of e-invoicing covered all the …
