Contractor’s Question: I won’t name names, but is it ok for a company to issue invoices and backdate them 10 days, thereby making them immediately due for payment? Expert’s Answer: I am not aware of ...

The Goods and Services Tax network has released an important advisory that highlights several new changes made to the Invoice Management System. The updates aim to reduce compliance requirements and ...

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A debit note acts as a document sent to the seller, informing the seller that a debit has been made in the seller's account. During or after a sale, if the consumer finds the goods unsatisfactory and ...

GST tax claim: The deadline for claiming any outstanding input tax credit (ITC) or correcting errors or omissions per Goods and Services Tax (GST) regulations for the financial year 2023-24 is ...

Dinesh Jotwani, Co- Managing partner at Jotwani Associates says, "Section 16(4) of the Central Goods and Services Tax Act, 2017 reads as follows: A registered person shall not be entitled to take ...

Goods and services tax (GST): Registered taxpayers won't be able to claim any pending input tax credit if they don't file their GST return by November 30, 2024 for FY 2024-25. CBIC said, "The taxpayer ...

The 54th meeting of the Goods and Services Tax (GST) Council on September 9 is expected to announce the implementation of the GST amnesty scheme, rate rationalisation of certain goods and services, ...

Introduction: In the world of GST (Goods and Services Tax), credit notes and debit notes play a crucial role in ensuring accuracy and compliance in tax invoicing and accounting practices. These ...

Editor: Mary Van Leuven, J.D., LL.M. The global surge in continuous transaction control (CTC) systems is a trend that cannot be overlooked. These CTC systems manifest as electronic invoicing ...

The upcoming implementation of the Electronic Invoicing (e-invoicing) in Malaysia and the recent introduction of the MyInvois Sandbox by the Inland Revenue Board (IRB or LHDN) signals the government’s ...