WebMar 14, 2024 · This rule implies that with the start of new financial year 2024-23 (w.e.f. 01/04/2024), GST taxpayers should start a new invoice series, unique for the financial year. Similar provision is there in Rule 49 of the CGST Rules 2024, in respect of issue of Bill of Supply by registered taxpayers availing Composition Scheme or supplying exempted … WebJun 9, 2024 · The penalty for failing to submit a deregistration application on time will reduce from AED10,000 to AED1,000 per month (capped at AED10,000). The penalty for failing to display prices inclusive of VAT will reduce from AED15,000 to AED5,000. The penalty for failing to issue a tax invoice or tax credit note will reduce from AED5,000 to …
List of Goods and Service Tax Rates, Slab & Revision - ClearTax
WebThe Tax Invoice Management System (TIMS) is an upgrade of the current Electronic Tax Register ... (Electronic Tax Invoice) regulations 2024 by 31 st July 2024. Further, sellers of ETR devices are requested to stop selling non-compliant devices as from 15 th January 2024 as per the public notice below: ... WebAug 3, 2024 · E-Invoice under GST as per Notification No.17/2024-C.T. dt. 01.08.2024. On 1 st August,2024,CBIC has issued Notification No.17/2024-Central Tax-dated.01.08.2024, in exercise of the powers conferred by sub-rule (4) of rule 46 of the CGST Rules,2024, as per amendment that with effect from 1 st day of October,2024, any registered taxable person ... crown point recycling center
KRA plans to roll out a new tax invoice management system
WebApr 13, 2024 · The Directorate General of GST Intelligence has served show cause notices to insurance intermediaries, including HDFC Bank, Go Digit Insurance, and Policybazaar, among others, for issuing fake invoices to claim input tax credit without providing any service. The investigation, initiated in 2024, has revealed an evasion of INR2,250 crore so far, with … WebAug 11, 2024 · Customer tax invoice number group 2024: ID_21Q1: In the first record for the customer, in the Original number sequence group field, enter the number sequence group for the customer 1 record (ID_Cust1). WebJan 15, 2024 · The Commissioner of Taxation (the Commissioner) is proposing to update the rules relating to when recipients of taxable supplies are entitled to issue a recipient created tax invoices (RCTIs).The proposed changes are detailed in draft Legislative Instrument LI 2024/D15 (LI 2024/D15) which has been released for public consultation. … building production monterotondo