by Siddarth Nandakumar | Mar 31, 2022 | floTax
Any registered person whose annual income exceeds five crore rupees should get his financial accounts audited according to the CGST Act sub-section (5) of section 35. A copy of all the audited annual accounts and a duly submitted reconciliation statement should be...
by admin | Jan 26, 2022 | floTax
Digitalisation is taking over conventional means and methodologies. What started as an electronic book and record-keeping has now extended to digital and electronic invoices. System-generated invoices have taken over the traditional bill books and handwritten...
by Siddarth Nandakumar | Dec 22, 2021 | floTax
Since its implementation, the Goods and Services Tax, 2017, went through many structural and procedural changes. One such change was the introduction of the e-Way bill to track the movement of goods, aiming to foster transparency and curb fake invoicing. Barring a few...
by Siddarth Nandakumar | Nov 11, 2021 | floTax
Under GST, when goods move from one place to another, the person initiating the goods has to apply for an E-way bill (Electronic waybill) from the E-way bill portal. From 1st April 2018, any registered person under GST must apply for an E-way bill for the inter-state...
by Siddarth Nandakumar | Nov 4, 2021 | floTax
Introduction E-invoice has been introduced to curb tax evasions and reduce discrepancies in various GST returns due to manual invoices. ‘E-invoice’ or ‘electronic invoice’ is a B2B invoice that is in a format specified by the GST Network (GSTN) and authenticated on...
by Siddarth Nandakumar | Oct 15, 2021 | floTax
An electronic invoice is a digital document created, processed, and finalized entirely online without manual input from any employees. Processing orders and payments can be executed faster and with minimal delay by using e-invoices. It is undoubtedly the future of...
