The Section 15 of the CGST ACT 2017 states that the Value of Supply of Goods or Services or Both shall be the Transaction Value, which is the Price actually paid or payable for the supply of goods or services or both where the supplier and recipient of the supply are not related and the …
Section 16 of the CGST Act lays down the conditions to be fulfilled by GST registered buyers to claim ITC. One of such conditions is that the buyer should make payment to the vendor within 180 days. However, can ITC be denied if such credit is not reflected in GSTR 2A due to non payment …
GST ITC can not be denied only due to mismatch with GSTR 2A! Read More »
In a recent update on June 12, 2023, the E-Way Bill/E-Invoice System has introduced a security enhancement called 2-Factor Authentication (2FA). This measure aims to ensure the utmost safety and integrity of the system. Starting from July 15 2023, 2-Factor Authentication mandatory for E-Invoice /E-Way Bill system for all taxpayers with an Annual Aggregate Turnover (AATO) above Rs 100 …
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