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📌 What is E-Invoicing under GST? E-Invoicing is the system introduced under GST for electronically authenticating B2B invoices through the Invoice Registration Portal (IRP). 🔍 Key Points: Mandatory for: Businesses with annual turnover of ₹5 crore or more. You must generate invoices through your billing/accounting software, which are then uploaded to the IRP. The portal […]
E-Invoicing & E-Way Bills – Full Clarification Read More »
— Expert Advisory by Hemant Consulting At Hemant Consulting, we specialize in providing compliance-driven GST solutions tailored for businesses, startups, consultants, and service providers. One of the most common and crucial areas where businesses face confusion is Input Tax Credit (ITC) under the GST regime. Here’s a clear, practical explanation to help you claim ITC
📘 Input Tax Credit (ITC) Under GST – A Complete Guide Read More »
🔍 Introduction: In today’s fast-moving business environment, time, accuracy, and compliance are more important than ever. Whether you’re a freelancer, startup, or growing MSME, navigating tax laws and GST filings can be overwhelming. Fortunately, technology is reshaping the way financial services are delivered—and at Hemant Consulting, we’re leading the way. 💡 Key Insights: 1. AI-Powered
How Smart Technology is Transforming Tax, GST, and Financial Services in India Read More »
Under GST law, businesses are entitled to claim Input Tax Credit (ITC) on purchases. However, there’s a critical compliance clause many overlook — ITC must be reversed if the supplier’s invoice is not paid within 180 days. 📌 What the Law Says As per Section 16(2)(d) of the CGST Act: “If the recipient fails to
🔄 ITC Reversal on Non-Payment: What You Must Know Read More »