Key Takeaways The Invoice management system (IMS) is one of the recent features of the Goods and Services Tax Network. It has been proposed to simplify tax compliance under e-invoicing. This system significantly offers advantages to taxpayers during ITC claims and invoice management. Many people struggle with IMS due to a lack of comprehensive understanding. […]
Key Takeaways Effective invoice management is essential for maintaining healthy cash flow and strong client relationships. An invoice serves as a formal request from a seller to a buyer for payment for goods or services rendered. While it is often mistaken for a bill, an invoice carries more detailed information and plays a crucial role […]
Key Takeaways Are you a business owner who struggles with overflowing invoices during the peak season? Not just you; the traditional invoicing systems are a real struggle for entrepreneurs when it comes to cross-referencing purchase orders, manually entering data and chasing approvals. Automated invoice management is a beneficial alternative to traditional invoice managing methods. This […]
Key Takeaways Under the Goods and Services Tax (GST) regime, a registered taxpayer is required to comply with several registration and compliance requirements. One such requirement arises when a taxable person receives a Show Cause Notice (SCN) from the proper officer of the GST department, often due to discrepancies, non-compliance, or issues related to registration. […]
by Key Takeaways With an aim to ultimately simplify compliance regulations for various Micro/Small/Medium-sized Enterprises (MSMEs), the GST registration limits have been altered to a great degree. The Goods and Services Tax (GST) Council proposed the alterations in its 32nd meeting, conducted on the 10th of January, 2019. Further, the decisions were announced by the Central […]
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