Jan 2023 published lowering of e-invoicing threshold will not go ahead; threshold remains ₹10 per annum The Indian Central Board of Indirect Taxes and Customs (CBIC) has refuted reports of a cut to the annual sales threshold for clearing e-invoices to ₹5 per annum for 1
New Frequently Asked Questions for e-invoicing and e-waybills The Indian e-invoicing FAQ’s have been updated this month. Topics covered include: e-invoicing processing with supplier processes e-waybill creation deadlines e-waybills for train transport calculating year-end turnover thresholds creating e-waybills with e-invoices reporting and submissions of e-invoices
Latest threshold drop brings thousands more taxpayers into electronic invoicing requirements From 1 January 2023, the next round of Indian taxpayers obliged to digitally authenticate sales invoices with the GST Invoice Registration Portal operated by the GST Network. The annual sales threshold for clearing e-invoices
More time allowed for 2021-22 input and credit allowances A number of delays have been provided for by the Central Board of Indirect Taxes of India. These are extensions on claims for certain credits on Goods and Services Tax for the 2021-22 year. They include:
Government wishes to extend mandatory electronic invoicing to hundreds of thousands of small business to curb fraud India’s Central Board of Indirect Taxes looks set to lower further on1 January 2023 the annual sales threshold for adoption of mandatory electronic invoicing to be submitted to the
Further drop in annual sales threshold for India GST payers to adopt electronic invoicing The government has approved a new cut in the annual sales threshold to ₹10 crore (approx.$120 million per annum) for taxpayers mandated to adopt Indian e-invoicing. This will come into effect
GST state compensation ends tonight in deadlock; rate rises and removal of exemptions on certain supplies despite inflationary worries The July meeting of the Goods and Services Tax Council meeting approved rate rises on a range of supplies, plus the removal of some exemptions from the
Proposals to consolidate from 4 rates to 3 likely to go hold due to inflationary fears Long waited plans from the Goods and Services Tax Council to rationalise the GST rates from 4 to 3 slabs look certain to be delayed as inflation in April
April Goods and Services central filings delayed due to technology issues The Indian Central Board of Indirect Taxes and Customs has delayed the deadlines on returns and payments as follows: GSTR-3B and GSTR-2B delayed to 24 May. This normally submitted around the 20th. Payment of
Political tensions following COVID disruption to 5-year deal to compensate 28 states since 2017 GST compensation ends 1 July 2022 In July 2017 with the launch of India Goods and Services Tax, the GST Compensation Act, 2017 provided for five years of compensation payments to
