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:
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
Plans to extend India e-invoicing to Business-2-Consumer transactions in doubt Following the completion in 2021 of the rollout of B2B electronic invoicing for transactions above ₹20 crore (from 1 April 2022), the plan had been to bring in B2C transactions. Currently, For B2C invoices, a QR
Simplifying to 3 Goods and Services Tax rate from current 4 rates The Indian GST Council, which oversees the policy and running of Indian GST, is considering a proposal to cut the current four rates to 3 by merging the current 5% and 12% in
The Indian Central Board of Indirect Taxes and Customs has lowered the annual sales threshold for mandatory GST e-invoices. With effect from 1 April 2022, e-invoicing will be mandatory for all taxpayers that have aggregate turnover exceeding INR200 million (20 Crores). The current threshold, Rs
5% GST on gig and sharing economy platform aggregators 1 January 2022 The Indian Goods and Services Tax Council (GST council) has extended the GST net to providers and online platforms offering the following services on their own account or via third-party merchants on their
