In an effort to enhance input tax credit (ITC) ecosystem, an assessee will be able to use Invoice Management System (IMS) from October 1. This system will allow the recipient taxpayers to either ...

https://www.thehindubusinessline.com/economy/invoice-management-system-may-add-compliance-for-gst-assesses-say-tax-experts/article68775504.ece Copy The effort to ...

Credit and Finance for MSMEs: The fraudulent Input Tax Credit (ITC) claims have been on the rise, especially with the uncovering of many fake firms which were set up to issue fake invoices. This may ...

The cascading effect that lingered under excise, VAT and service tax can be removed in Goods and Services Tax (GST) by allowing an uninterrupted and seamless chain of Input Tax Credit (ITC). ITC is ...

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 ...

The government has recently extended the applicability of the e-Invoicing system to small businesses. From 1st October 2022, businesses with an aggregate annual turnover of more than Rs.10 crore up to ...

E-invoicing is already under implementation in phases. It will be mandatory for all from the next financial year as part of the government’s ongoing efforts towards ‘Ease of Doing Business’ and ...

GST reconciliation mainly includes matching the data uploaded by the traders or sellers with those of the recipient's purchase data. This principally includes comparing the GSTR-2A/2B auto-populated ...