Intending to reduce GST evasion and bring a transparent transaction system, GST Council has made it mandatory for businesses, with gross turnover exceeding 500 crores, to issue an ‘electronic invoice’ for each transaction that the organization makes. This rule only implies on Business to Business (B2B) transactions, which will fall into implementation from October 1st,...
September 29, 2020
September 10, 2020
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Our economic trajectory has taken an unexpected turn due to COVID-19, and the debate of massive revenue degrowth for Central Government or individual states is now raging. In the recently concluded 41st GST Council meeting, held on 27th August 2020, Central government has proposed two alternatives to the states for recouping their losses in absence...