Key Takeaways In the present era, GSTN (Goods and Services Tax Network) plays a vital role in facilitating the management and filing of Goods and Service Tax (GST). This is applicable to different businesses in India and is vital for preserving the Indian finance ecosystem. One of the most important tasks for GST-registered businesses is […]
Key Takeaways A GST invoice acts as proof of the supply of goods and services. A person can use this evidence to claim or optimise ITC. An input tax credit provides businesses with an opportunity to reduce their tax amounts, which they pay for business-related purposes. A person who wants to claim these invoices has […]
Key Takeaways A proforma invoice is a document that provides company details and its products or services that have yet to be delivered to the buyer or customer. This invoice in the Word format is provided to offer the customer an estimation of goods or services. It also projects the item costs before signing an […]
Key Takeaways Late payments are a part of doing business, but when it comes to Goods and Services Tax (GST), unpaid invoices can trigger serious consequences. Businesses may overlook a pending payment, but tax authorities don’t. The GST framework imposes strict rules around invoice timelines, and missing them can lead to penalties, interest charges, and […]
by Key Takeaways The concept of job work plays a pivotal role in India’s manufacturing and processing industry. Job work under GST has been recognised and formalised to ensure smoother tax compliance and clarity for all stakeholders involved. Job work refers to the processing or working on goods supplied by a principal manufacturer to a job […]
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