In the rapidly evolving world of online commerce, electronic marketplaces have become instrumental in facilitating seamless transactions between buyers and sellers. With the advent of E-commerce, governments worldwide have been adapting their tax systems to keep pace with the digital economy. In this context, it’s crucial to have an understanding of E-commerce operators under GST. …
E-invoicing is mandatory for all businesses with aggregate turnover of more than Rs.500 crore from October 1, 2020. This was subsequently made applicable to businesses with an aggregate turnover of more than Rs. 10 crores, phase by phase. The Invoice Registration Portal assigns an identity number (IRN) to each invoice in the electronic invoicing system …
Time limit imposed for Reporting Invoices on the IRP Portal Read More »
The Union Budget 2023-24 was presented on 1st February, 2023 by the Finance Minister Ms. Nirmala Sitharaman. New GST Changes in Budget 2023 are also announced. Some of these amendments will be effective from 01.04.2023 and some are retrospective from 01.07.2017. The proposed amendments are discussed below. 1. Return filing under GST GSTR 1, GSTR …
The Union Budget 2023-24 was presented on 1st February, 2023 by the Finance Minister Ms. Nirmala Sitharaman. Tax Proposals in Union Budget 2023 are discussed as follows: Indirect Taxes The Finance Minister has made certain proposals to simplify Indirect Taxes for delivering higher exports, higher Domestic Manufacturing, more value addition in the economy, green energy and …
The Union Budget 2023-24 was presented on 1st February, 2023 by the Finance Minister Ms. Nirmala Sitharaman. The Budget centeres on seven priorities, the ‘Saptrishi’ of the budget 2023 guiding us through Amrit Kaal. The Vision for Amrit Kaal includes opportunities for citizens with focus on the youth, growth and job creation and strong and stable …
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