Reading Time: 4 minutesCommon errors – e-Invoicing, E–invoicing errors can cause in the rejection of transactions. The table provide the resolution the common errors that occur during e–Invoicing … Error code E-invoicing Error message Reason for E-invoicing Error Resolution for the error 2150 Duplicate Invoice Reference Number Taxpayer uploading the same invoice which is already registered and IRN is generated. To avoid this
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Reading Time: 2 minutesGST invoice format, there is no format prescribed for an invoice in CGST Act 2017, however, Invoice rules makes it mandatory for an invoice to have following fields (only applicable field are to be filled): (a) Name, address and GSTIN of the supplier; (b) A consecutive serial number, in one or multiple series, containing alphabets
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Reading Time: 2 minutesDifference in GSTR-2A and GSTR 9, In the process of preparing and filing of GSTR 9 annual return for previous year, and observing the difference in input tax credit (ITC) as per consolidated GSTR-2A and table 8A of GSTR-9. Finding the difference and complete reconciliation of the difference we should aware of the reasons for
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Reading Time: 2 minutesGST Rate on Scrap , in the GST Laws, the term “Scrap” has not been defined, the waste and scrap does not have to pass the test of manufacture or mechanical process or marketability in order to be taxable in the GST regime, although It is considered as ‘supply’ in course of business. the manufacturing
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Reading Time: 2 minutesGST tribunal constitution, The Much-awaited step in GST regime has been taken, the Ministry of Finance, Department of Revenue, issued the notification on September 14, 2023, regarding the constitution of Benches of the Goods and Services Tax (GST) Appellate Tribunal in States. This notification, published in the Gazette of India, Extraordinary, Part II, Section 3,
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Reading Time: 3 minutesLLP Amnesty Scheme 2023, LLP Amnesty Scheme is provided for Form 3, 4 & 11 of Small and Non Small LLPs, Under this LLP Amnesty scheme Form 3 & 4 can be filled without additional fees for events from 1.1.2021 onwards & for Forms prior to 1.1.2021 can be filled with 2 times & 4
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Reading Time: 4 minutesGovt. Has notified the Integrated Goods and Services Tax (Amendment) Act, 2023. Content of amended are as follow. Ji THE INTEGRATED GOODS AND SERVICES TAX (AMENDMENT) ACT, 2023 No. 31 OF 2023 [18th August, 2023.] An Act further to amend the Integrated Goods and Services Tax Act, 2017. Be it enacted by Parliament
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Reading Time: < 1 minuteIncome tax challan correction ,New Functionality for “Challan Correction” launched by income tax department Using this Functionality you can Change Assesment Year, Major Head and Minor Head for Advance Tax, Self-Assessment Tax and Demand Payment as Regular Assessment Tax for Challan pertaining to A.Y. 2020-21 onwards within 7 days of tax payment. Challan Correction request
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Reading Time: 2 minutesRule 11UACA, New Rule 11UACA is notified by Income Tax India for Computation of income chargeable to tax under Section 56(2)(xiii) for amount Received under life Insurance policy “11UACA Computation of income chargeable to tax under clause (xiii) of sub-section (2) of section 56.- For the purpose of clause (xiii) of sub-section (2) of section
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Reading Time: 3 minutesAccording to Section 39 of the partnership Act 1932, the dissolution of partnership between all the partners of a firm is called the dissolution of the firm. That means the Act recognizes the difference in the breaking of relationship between all the Dissolution of Partnership Firm and between some of the partners; and it is
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