A new functionality will be introduced on GSTN portal w.e.f. 1 October 2024 which will require the recipient of goods or services to match the invoices/records with the details uploaded by supplier for availing ITC.
Starting from October 1, 2024, a new Invoice Management System (IMS) will be implemented to streamline the process of matching invoices issued by suppliers and claiming Input Tax Credit (ITC).
As per Notification No. 12/2024- Central Tax dated 10 July, 2024 published by the Central Board of Indirect Taxes and Customs (CBIC), major changes in the GST Act will have an impact in the GST returns filing
04 September 2024 at 08:37
Comprehending the need and timing of obtaining a New GST Registration Number is critical for upholding felony compliance and streamlining business approaches.
03 September 2024 at 14:27
The insurance companies, which are engaged in providing general insurance services in respect of insurance of motor vehicles, insure the cost of repairs/damages of motor vehicles incurred by the policyholders.
03 September 2024 at 08:46
Life insurance companies provide services by insuring the life of the insured. In exchange, they charge a premium, which may include components for both risk cover and investment/savings.
Over the decades, there has been a significant change in the practice of charging income tax. Let us look into the history of income tax from ancient times.
GST on Passenger Transportation in EVs and Renting of EVs Renting v/s Transportation of Passengers:As per Circular No. 177/09/2022-TRU Entry 15:Renting of moto..
30 August 2024 at 13:25
Here's a simplified explanation of the mechanism for providing evidence of compliance with Section 15(3)(b)(ii) of the CGST Act, 2017 (Circular No. 212/6/2024_26.06.2024).
30 August 2024 at 08:48
This article examines how the new GST registration regulations will affect startups, highlighting the advantages as well as the difficulties.
Live Course on Invoice Management System (IMS) - 2nd Batch(With Recording)
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