[vc_row][vc_column][vc_column_text]<\/p>\n
[\/vc_column_text][vc_empty_space height=”52px”][\/vc_column][\/vc_row][vc_row][vc_column][vc_separator color=”orange” border_width=”5″][\/vc_column][\/vc_row][vc_row simple_background_color=”#f7f7f7″][vc_column][vc_column_text]Published on: 3 October, 2023 The Goods and Services Tax Network (GSTN) has announced a significant enhancement to the GST e-Invoice Portal. Starting from October 1, businesses can easily download <\/span>e-invoices in JSON format<\/span><\/a>. This feature aims to simplify the process of accessing generated and received e-invoices for better record-keeping and compliance.<\/span><\/p>\n This enhancement allows businesses to download e-invoice JSON files for up to 6 months from the date of Invoice Reference Number (IRN) generation. To ensure a smooth experience for all users, it is recommended to schedule downloads during non-peak hours and avoid overwhelming the system with large requests, especially during the initial days.<\/span><\/p>\n Furthermore, this functionality is accessible through GST Suvidha Providers (GSP) via Government-to-Business (G2B) APIs, providing added convenience for users.<\/span>[\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column][vc_empty_space][vc_separator color=”orange” border_width=”5″][\/vc_column][\/vc_row][vc_row simple_background_color=”#f7f7f7″][vc_column][vc_column_text]Published on: 2 October, 2023 The Finance Ministry has announced changes in the Goods & Services Tax (GST) law, providing relief to small businesses operating on e-commerce platforms. Starting October 1, small businesses utilising e-commerce platforms to sell their products will no longer be required to undergo compulsory GST registration, provided they meet certain conditions.<\/span><\/p>\n While the mandatory <\/span>GST registration threshold<\/a> is Rs.40 lakh for annual turnover<\/span> (Rs.20 lakh for goods and services in selected states), there were previously compulsory registration requirements for sellers wishing to operate on e-commerce platforms. This meant sellers without a GST number could not sell their products on these platforms. The new notification issued by the Central Board of Indirect Taxes and Customs (CBIC) specifies the exemption criteria based on aggregate turnover.<\/span><\/p>\n As per CBIC, businesses must meet eight conditions to qualify for this exemption, including –\u00a0<\/span><\/p>\n This decision addresses a long-standing demand from small businesses and trade bodies, aiming to enhance their participation in e-commerce. It is expected to benefit a wide range of small enterprises, including artisans, craftsmen, household and cottage industries, and women entrepreneurs. This change is seen as a positive step towards boosting domestic and export markets while enabling small businesses to expand their online presence without the burden of compulsory GST registration.<\/span>[\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column][vc_empty_space][vc_separator color=”orange” border_width=”5″][\/vc_column][\/vc_row][vc_row simple_background_color=”#f7f7f7″][vc_column][vc_column_text]Published on: 6 September, 2023<\/strong>[\/vc_column_text][vc_column_text]<\/p>\n The Goods and Services Tax (GST) e-Way bill system has announced a crucial update that will impact GST taxpayers across India. Effective from October 1, 2023, using either a 6-digit or 4-digit <\/span>HSN Code<\/span><\/a> (Harmonized System of Nomenclature) in <\/span>e-Invoices<\/span><\/a> and <\/span>e-Way Bills<\/span><\/a> will be mandatory.<\/span><\/p>\n The update follows Notification No. 78\/2020, dated October 15, 2020, which stated, “Taxpayers with Aggregate Annual Turnover (AATO) above Rs 5 Crore must incorporate a 6-digit HSN code in their e-Invoices and e-Way Bills. Other taxpayers are required to include at least a 4-digit HSN code.”\u00a0<\/span><\/p>\n While many taxpayers have already adopted this practice, those who have not are strongly encouraged to align themselves with the new requirement by the specified deadline.<\/span><\/p>\n The impending change aims to streamline the invoicing and e-Way billing process, ensuring greater accuracy and transparency in the GST system. With this update, the GST authorities seek to enhance the efficiency of tax compliance and reporting mechanisms.<\/span><\/p>\n As the deadline approaches, GST taxpayers must stay informed about these changes and modify their invoicing and e-Way billing processes. Adhering to the new HSN code requirements will ensure that businesses remain compliant with GST regulations and continue to operate smoothly within the evolving tax landscape.<\/span>[\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column][vc_empty_space][vc_separator color=”orange” border_width=”5″][\/vc_column][\/vc_row][vc_row simple_background_color=”#f7f7f7″][vc_column][vc_column_text]Published on: 28 August, 2023<\/strong>[\/vc_column_text][vc_column_text]<\/p>\n In a significant ruling, the Madras High Court has provided clarity on the requirement of a <\/span>GST credit note<\/a><\/span> for goods returned before being received by the recipient. The case involved Luminous Power Technologies Private Limited against the State Tax Office, and the verdict sheds light on the applicability of credit notes under specific circumstances.<\/span><\/p>\n The petitioner, Luminous Power Technologies Private Limited, had dispatched various solar power generating systems and panels to a buyer in Tiruppur through multiple invoices. The consignment faced an unexpected setback due to heavy rainfall during transportation, resulting in wet solar panels. Consequently, the buyer declined to accept the delivery.<\/span><\/p>\n In response, the petitioner generated new e-way bills and transported the goods back to their factory for assessment. However, during this return journey, the GST Department intercepted the consignment, alleging non-compliance with GST regulations pertaining to credit and debit notes.<\/span><\/p>\n The GST Department invoked Section 129 of the GST Act, claiming that the petitioner’s failure to issue <\/span>credit or debit notes<\/span><\/a> for the unaccepted goods violated the provisions outlined in Section 34 of the Act. The Department asserted that any goods returned due to unfulfilled sales must be accompanied by appropriate documents. According to their interpretation, failure to provide prescribed documentation resulted in penalties under Section 129.<\/span><\/p>\n The petitioner’s legal counsel argued that credit or debit notes are issued when goods are returned after delivery. In this case, since the consignee refused to accept the goods, a situation of delivery and subsequent return did not materialise. Therefore, the petitioner argued that the application of Section 129(3) was unwarranted.<\/span><\/p>\n Furthermore, it was emphasised that the goods were at risk of deterioration due to their wet condition, compelling the petitioner to pay the penalty in an attempt to safeguard the damaged goods.<\/span><\/p>\n The ruling clarified that goods being returned do not necessarily require a credit note, as per Section 34(1) of the <\/span>CGST Act<\/span><\/a>. This section outlines instances where a credit note is applicable, including scenarios where the taxable value or tax charged in the tax invoice exceeds the actual payable amount or where goods supplied are returned by the recipient. The court interpreted that credit notes are meant for adjusting tax liabilities that result from situations where excess tax was charged in a tax invoice.<\/span><\/p>\n The Madras High Court’s ruling provides a subtle viewpoint on the necessity of GST credit notes in cases of pre-delivery returns. This clarity offers insights into the circumstances that trigger the requirement for credit notes under the GST framework. The judgment reaffirms the importance of interpreting GST regulations in alignment with their intended scope and purpose.<\/span>[\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column][vc_empty_space][vc_separator color=”orange” border_width=”5″][\/vc_column][\/vc_row][vc_row simple_background_color=”#f7f7f7″][vc_column][vc_column_text]Published on: 26 August, 2023<\/strong>[\/vc_column_text][vc_column_text]<\/p>\n In a significant stride towards enhancing user experience and accessibility, the Central Board of Direct Taxes (CBDT) has unveiled the revamped national website of the Income Tax Department, accessible at www.incometaxindia.gov.in. The updated website features a user-friendly interface, transparency, and ease of navigation features. It now has a mobile-responsive layout and an aesthetic overhaul. The website also contains a ‘Mega Menu’ for content with fresh features and capabilities. All of these new enhancements are explained via a virtual tour and new button indications for the convenience of website users.<\/span><\/p>\n This website acts as a thorough database for tax and associated information. It offers cross-referenced and hyperlinked access to the Direct Tax statutes and several other allied acts, rules, income tax circulars, and notifications. Additionally, the website provides a “Taxpayer Services Module” with several tax tools to help taxpayers file their income tax forms. Additionally, the functionality of dynamic due date alerts offers tooltips, reverse countdowns, and links to relevant portals to make it easier for taxpayers to comply.\u00a0\u00a0<\/span>[\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column][vc_empty_space][vc_separator color=”orange” border_width=”5″][\/vc_column][\/vc_row][vc_row simple_background_color=”#f7f7f7″][vc_column][vc_column_text]Published on: 22 August, 2023<\/strong>[\/vc_column_text][vc_column_text]<\/p>\n The government is expected to launch the long-awaited “Mera Bill Mera Adhikar” scheme; individuals may soon receive rewards for posting GST invoices on a mobile app, PTI reported.<\/span><\/p>\n According to the official announcement, the invoice incentivisation program may offer cash prizes ranging from Rs.10 lakh to Rs.1 crore monthly or quarterly to people who upload invoices they get from retailers or wholesalers to Mera Bill Mera Adhikar app.<\/span><\/p>\n iOS and Android will support the “Mera Bill Mera Adhikar” mobile app. The seller’s GSTIN<\/a>, the invoice number, the amount paid, and the tax amount should all be included in the uploaded invoice.<\/span><\/p>\n According to an official, the software will allow users to upload up to 25 legitimate invoices per month, and each invoice must have a minimum purchase value of Rs 200.<\/span><\/p>\n Every month, more than 500 computerised lucky draws would be held, with prizes totalling thousands of rupees. According to organisers, there will be two lucky draws each quarter with prizes totalling Rs 1 crore.<\/span><\/p>\n The plan was being finalised and might be introduced this month.<\/span><\/p>\n The “Mera Bill Mera Adhikar” program would ensure that electronic invoices were generated even for B2C customers so that the buyer would be qualified to participate in the lucky draw.<\/span><\/p>\n The plan is designed to encourage citizens and consumers to demand accurate invoices from the supplier. The program is designed to promote tax-compliant behaviour among Indian consumers and businesses during the B2C stage of transactions.<\/span><\/p>\n The GST Network (GSTN<\/a>) has created the technology infrastructure that will allow users of a user-friendly mobile application and web to register themselves and upload invoices.<\/span><\/p>\n This program is anticipated to accomplish several goals, including encouraging and rewarding consumer compliance, supporting tax-compliant firms, increasing consumer spending, and preventing tax evasion.<\/span>[\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column][vc_empty_space][vc_separator color=”orange” border_width=”5″][\/vc_column][\/vc_row][vc_row simple_background_color=”#f7f7f7″][vc_column][vc_column_text]Published on: 31 July, 2023<\/strong>[\/vc_column_text][vc_column_text]<\/p>\n The Goods and Services Tax Network (GSTN) issued an advisory on the Functionality of the e-Invoice Exemption Declaration dated 24 July 2023. This advisory aims to provide clarity and guidance to businesses utilising the e-Invoice system<\/a>. The new feature is available on the e-invoicing portal.<\/p>\n \u201cGSTN is pleased to inform you that the e-Invoice Exemption Declaration functionality is now live on the e-Invoice portal<\/a>. This functionality is specifically designed for taxpayers who are by default enabled for e-invoicing but are exempted from implementing it under the CGST (Central Goods and Services Tax) Rules\u201d, as per GSTN advisory.<\/p>\n Salient features-<\/b><\/p>\n The reporting of exemption declarations solely serves the purpose of facilitating businesses.<\/p>\n [\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column][vc_empty_space][vc_separator color=”orange” border_width=”5″][\/vc_column][\/vc_row][vc_row simple_background_color=”#f7f7f7″][vc_column][vc_column_text]Published on: 19 July, 2023<\/strong>[\/vc_column_text][vc_column_text]<\/p>\n The e-Way Bill portal has extended the deadline for taxpayers with an Annual Aggregate Turnover (AATO) above Rs 100 crore to register for 2-Factor Authentication (2FA) for both the e-invoicing and e-way bill system. The new deadline, now set for July 31, 2023, comes after the earlier announcement by the National Informatics Centre (NIC), in which it mentioned the mandatory implementation of 2FA for taxpayers with turnover above Rs 100 crore for both the e-invoicing<\/a> and e-way bill<\/a> system.<\/p>\n 2-Factor Authentication adds an extra layer of security to the login process of the e-Way Bill\/e-Invoice System, ensuring only authorised individuals can access it. Alongside their regular username and password, users must now provide a one-time password (OTP) received via SMS or generated through the Sandes\/NIC-GST-Shield App.<\/p>\n The purpose of implementing 2FA is to bolster the security of the e-Way Bill system, safeguarding sensitive data and transactions from potential cyber threats. By adopting this additional security measure, the authorities aim to mitigate the risks associated with unauthorised access and strengthen taxpayer data protection.<\/p>\n Taxpayers with an AATO above Rs 100 crore are urged to take prompt action and register for 2FA before the revised deadline of July 31, 2023, to avoid any disruptions in their e-Way Bill and e-Invoice operations.<\/p>\n Setting up 2FA is straightforward, requiring businesses to activate the feature and link it to their registered mobile numbers or the Sandes\/NIC-GST-Shield App.[\/vc_column_text][vc_empty_space][\/vc_column][\/vc_row][vc_row][vc_column][vc_empty_space][vc_separator color=”orange” border_width=”5″][\/vc_column][\/vc_row][vc_row simple_background_color=”#f7f7f7″][vc_column][vc_column_text]Published on: 13 July, 2023<\/strong>[\/vc_column_text][vc_column_text]<\/p>\n
\n<\/strong>[\/vc_column_text][vc_column_text]<\/p>\n<\/span>GST e-Invoice Portal Makes e-Invoice JSON Download Feature Live<\/span><\/span><\/h2>\n
How to Download e-Invoices in JSON Format:<\/h3>\n
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\n<\/strong>[\/vc_column_text][vc_column_text]<\/p>\n<\/span>GST Registration Exemption for Small e-Commerce Businesses to Come into Effect from 1st October<\/span><\/h2>\n
Conditions for GST Registration Exemption for Small e-Commerce Businesses<\/span><\/h3>\n
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<\/span>GST e-way Bill System to Mandate 6-digit or 4-digit HSN Codes Starting 1st October 2023<\/span><\/span><\/h2>\n
<\/span>GST Credit Note Not Required for Pre-Delivery Returns: Madras High Court<\/span><\/span><\/h2>\n
Case Background<\/span><\/h3>\n
GST Department’s Standpoint<\/span><\/h3>\n
Petitioner’s Argument<\/span><\/h3>\n
The Judgement<\/span><\/h3>\n
Conclusion<\/span><\/h3>\n
<\/span>CBDT Launches Revamped Website for Income Tax Department with User-Friendly Features<\/span><\/span><\/h2>\n
<\/span>Government’s Innovative Move: “Mera Bill Mera Adhikar” Scheme to Reward GST Invoice Uploads<\/span><\/span><\/h2>\n
<\/span>GSTN Rolls Out e-Invoice Exemption Declaration Functionality<\/span><\/h2>\n
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<\/span>2-Factor Authentication Registration Mandatory for Taxpayers with AATO Above Rs 100 Crore: Deadline Extended till 31st July<\/span><\/h2>\n
<\/span>Changes in GST Rates on Goods & Services: Latest Recommendations of GST Council<\/span><\/h2>\n
GST Rate Changes on Services<\/h3>\n
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GST Rate Changes on Services<\/h3>\n
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Measures to Facilitate Business or Trade<\/h3>\n
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Measures to Streamline GST Compliance<\/h3>\n
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