Advance payment GST

Impact of GST on advance payments

Advance Payment GST: According  to the revised model  of GST law,  the time of Supply  of goods and services should be earliest of date of issue of invoice and receipt  of payment done advance. If in situations where the recipient of goods and services  which made by advance payment gst as in terms to the…
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Reconciliation of GST

Reconciliation of GST : The restoration or reconciliation  under GST would help in keeping  the account books in sync with the filling  done. It will happen between  the purchase ledger you make GSTR-2A,  which shall be auto populated using the sales data uploaded in GSTR-1. Reconciliation of GST will highlight errors in different cases,  among…
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e-way bill

What is E-way bill under GST? What happens when you don’t update the E-way bill?

  E-WAY BILL: As the day is falling short for GST Implementation, the central government is in favour of postponing its commencement by a few months more as of the process of E-way bill, which requires movement of good above Rs 50000 to be per registered online. As the world is going online for everything,…
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invoicing under goods and service tax

Invoicing under Goods and Service tax

INVOICING UNDER GOODS AND SERVICE TAX : Invoice is a very important and special case when it is coming to taxation. When the question is about execution of a transaction the only need is the Invoice. Invoice has two parties involved in it that is a person who is selling and a person who is buying.…
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