GST Update – | Utilisation of ITC | Cash Payment |
The biggest GST amendment of 2020 was announced by the Government by the CGST Notification to restrict the use of 100% ITC balance for payment of monthly output liability. The summary of said provisions is given hereunder for your immediate reference and consideration. [Introduction of Rule 86B] With effect from the 1st day of January […]
GST Update – || E-Invoice ||
Now, the Government has further extended the E-Invoicing provisions to businesses exceeding Rs.50 crore turnover limit with effect from 1st April 2021. Vide Notification no. 05/2021 dated 8th March 2021. E-Invoicing provisions were made effective in the following phases. from October 1, 2020, issuing E-invoice was made mandatory for businesses with a turnover of Rs […]