In a renewed crackdown on tax evasion, the income tax department has started re-examining several previously concluded assessment cases. The reassessment cases are largely focused on businesses ...

GST has been a stable source of revenue, contributing to a diversified base of government revenue for funding public goods and services, the IRAS said. The GST Council in its 27th meeting discussed ...

To start with, businesses above a specified threshold will just get a unique number for every electronic invoice or e-invoice generated. This number can be matched with the invoices reported in the ...

Around 69.5 lakh Invoice Reference Numbers (IRN)s have been generated by 71,000 users in the first week of implementation of goods and services tax (GST) e-invoicing system. 2- On the first day of the ...

In a big relief to small companies, the Central Board of Indirect Taxes and Customs (CBIC) has raised the threshold limit to mandatorily file e-invoice to Rs 500 crore from earlier Rs 100 crore ...

Following the financial news carefully, you will remember that the overall turnover has been reduced to ₹5 crore from ₹10 crore. Does it apply to your enterprise? If yes, opting for an e-Invoice from ...

Now businesses can make entries about imports in the Invoice Management System (IMS) under GST. According to the tax department, this will enhance the convenience of a GST assessee. “A new section for ...

About 35,000 dealers who were given registration in 2018-19 and 2019-20, having annual GST liability of more than Rs 50 lakh. Gaurav Mohan, Richa Jain There are numerous fraud cases involving GST Fake ...