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Unveiling the Latest Update in GST e-Invoicing: FAQs Answered
The e-invoice system is designed for GST-registered individuals to upload all their B2B invoices to the Invoice Registration Portal (IRP). If you are eligible for e-invoicing, you may have several questions in mind. In this video of Compliance Tuesday, we will discuss FAQs AND LATEST UPDATE IN GST e-INVOICING.
Meerut News: The owner of several companies in Meerut, Uttar Pradesh, spent the whole night in the police station under the help of a blanket in the cold. Everyone is surprised by this news. Here the STF team has arrested an accused named Qamar Ahmed in the case of GST evasion worth crores through fake e-way bills. It is being told that this theft of GST is above Rs 100 crore.
Did you know? Section 17(5) imposes limitations on utilizing specific GST inputs for settling GST obligations. An example of such non-eligible expenses includes membership fees incurred at clubs, health centers, or fitness facilities subject to GST charges, which cannot be claimed for GST benefits.
However, here's a valuable tip: Membership fees paid by employees to trade associations qualify as business expenses and can be utilized as GST inputs for your business. @accteezindia follow us for more such valuable tips! For GST and other tax-related queries, feel free to call or WhatsApp us +91-8860632015. Enhance your understanding of GST for maximum financial benefits! 📚💰
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