The main impact on the notified businesses is the drastic change in their business process, GSTR-1 preparation and alterations to their billing system or software. e-Invoicing also promotes digitisation in India and enables one to digitise all transactions at the source, i.e., invoicing stage. Hence, it keeps a tab on the GST revenue leakages for the government. The primary objective of further bringing down the threshold turnover limit for e-invoicing is to control GST evasion and fraud while enhancing GST compliance, among MSMEs.Įnterprises along the supply chain can avail of genuine and verified Input Tax Credit (ITC). Units in SEZ or special economic zones, and.Goods transportation and passenger transportation agencies,.Exhibiting cinematographic films on multiplex screens.Banks, financial institutions, and insurance companies.Exempted sales for which the bill of supply is raised,.The e-invoicing scope excludes the below documents, transactions and businesses. Sales falling under the Reverse Charge Mechanism (RCM).Business-to-Government (B2G) supply of goods or services,.
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