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Advisory for furnishing bank account details by registered taxpayers under Rule 10A of the Central Goods and Services Tax Rules, 2017.
29Jan

Advisory for furnishing bank account details by registered taxpayers under Rule 10A of the Central Goods and Services Tax Rules, 2017.

GSTN has released a new advisory. Please read the details below : Subject: Urgent Action Required: Submission of Bank Account Details for GST Compliance Dear Taxpayers, In compliance with the CGST Act, 2017, and its corresponding Rules, it is mandatory for all registered taxpayers to submit their bank account details within 30 days of registration …

Advisory for furnishing bank account details by registered taxpayers under Rule 10A of the Central Goods and Services Tax Rules, 2017. Read More »

Advisory on Payment through Credit Card (CC)/Debit Card (DC) and Unified Payments Interface (UPI)
23Jan

Advisory on Payment through Credit Card (CC)/Debit Card (DC) and Unified Payments Interface (UPI)

GSTN has released a new advisory. Please read the details below : In our ongoing efforts to enhance the convenience for GST-registered taxpayers, we are delighted to introduce two additional payment methods under the e-payment umbrella, alongside the existing net-banking option. These new facilities aim to provide you with more flexibility and choices when settling …

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Advisory on introduction of new Tables 14 & 15 in GSTR-1
19Jan

Advisory on introduction of new Tables 14 & 15 in GSTR-1

GSTN has released a new advisory. Please read the details below : We would like to inform you that, in accordance with Notification No. 26/2022 – Central Tax dated 26th December 2022, two additional tables, namely Table 14 and Table 15, have been incorporated into GSTR-1. The purpose of these tables is to capture comprehensive …

Advisory on introduction of new Tables 14 & 15 in GSTR-1 Read More »

Advisory: Two-factor Authentication for Taxpayers
11Dec

Advisory: Two-factor Authentication for Taxpayers

GSTN has released a new advisory. Please read the details below : Dear Taxpayers, Thanking you,Team GSTN The advisory can be accessed on the GSTN portal : https://www.gst.gov.in/newsandupdates/read/618

Fake invoice scam busted in Bengaluru after tax officials raid scrap dealers – IndianExpress
07Dec

Fake invoice scam busted in Bengaluru after tax officials raid scrap dealers – IndianExpress

The Karnataka Commercial Taxes Department successfully uncovered an Input Tax Credit (ITC) scam involving fabricated invoices, with scrap dealers at the center of the alleged tax fraud against the government. In a targeted operation, officials from the Karnataka Commercial Taxes Department, Bengaluru South Zone, conducted raids on 86 vendors, dismantling an organized network that exploited …

Fake invoice scam busted in Bengaluru after tax officials raid scrap dealers – IndianExpress Read More »

Advisory for the procedures and provisions related to the amnesty for taxpayers who missed the appeal filing deadline for the orders passed on or before March 31, 2023
04Dec

Advisory for the procedures and provisions related to the amnesty for taxpayers who missed the appeal filing deadline for the orders passed on or before March 31, 2023

GSTN has released a new advisory. Please read the details below : Thanking you,Team GSTN The advisory can be accessed on the GSTN portal at https://www.gst.gov.in/newsandupdates/read/612

Mastering the Art of Invoicing: The Heartbeat of Financial Transactions
22Nov

Mastering the Art of Invoicing: The Heartbeat of Financial Transactions

Introduction:In the intricate dance of business transactions, the rhythm is set by a crucial component—Invoicing. Beyond a mere financial formality, accurate and timely invoicing serves as the heartbeat of your financial health. Let’s delve into the importance of mastering the art of invoicing for a seamless and thriving business. The Significance of Accurate Invoicing:Invoicing is …

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Over 100,000 small and mid-sized firms flout GST e-invoicing rules
20Nov

Over 100,000 small and mid-sized firms flout GST e-invoicing rules

In the dynamic landscape of India’s Goods and Services Tax (GST) regime, a recent article highlights a significant issue—over 100,000 small and medium-sized businesses are currently non-compliant with e-invoicing norms. This mandatory requirement under GST, applicable to businesses with an annual turnover exceeding Rs 5 crore, aims to streamline invoicing processes and enhance transparency in …

Over 100,000 small and mid-sized firms flout GST e-invoicing rules Read More »

Advisory for Online Compliance Pertaining to ITC mismatch -GST DRC-01C
18Nov

Advisory for Online Compliance Pertaining to ITC mismatch -GST DRC-01C

GSTN has released a new advisory. Please read the details below : Discrepancy between the Input Tax Credit (ITC) in GSTR-2B and the ITC claimed in GSTR-3B. 1. GSTN has introduced an automated feature in Form GST DRC-01C on the GST portal. This allows taxpayers to clarify variations between Input tax credit in GSTR-2B statement …

Advisory for Online Compliance Pertaining to ITC mismatch -GST DRC-01C Read More »

ITC Reversal on Account of Rule 37(A)
15Nov

ITC Reversal on Account of Rule 37(A)

GSTN has released a new advisory. Pl read the details below: Thank you for being an integral part of the GST community. We’re here to assist you every step of the way. Best regards,Team GSTN The advisory can be accessed on the GSTN portal at https://www.gst.gov.in/newsandupdates/read/613

Advisory for Pilot Project of Biometric-Based Aadhaar Authentication and Document Verification for GST Registration Applicants of Gujarat and Puducherry
07Nov

Advisory for Pilot Project of Biometric-Based Aadhaar Authentication and Document Verification for GST Registration Applicants of Gujarat and Puducherry

GSTN has released a new advisory. Pl read the details below.. Dear Valued Taxpayers, We’ve got some exciting updates on the GST registration process that we’d like to share with you. As you embark on your GST journey, here are some crucial points to bear in mind: Thank you for being an integral part of …

Advisory for Pilot Project of Biometric-Based Aadhaar Authentication and Document Verification for GST Registration Applicants of Gujarat and Puducherry Read More »

Advisory related to changes in GSTR-5A
30Oct

Advisory related to changes in GSTR-5A

GSTN has released a new advisory. Pl read the details below. Notification 51/2023, dated 29th September 2023, ushers in a significant change within the realm of GSTR 5A. Starting from the 1st of October 2023, Table 5B will make its debut. This new addition to the GSTR 5A format is designed specifically for the reporting …

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Categorization and Registration Requirements for Providers of Online Money Gaming Services and OIDAR, including Form GST REG-10 and Form GSTR-5A
23Oct

Categorization and Registration Requirements for Providers of Online Money Gaming Services and OIDAR, including Form GST REG-10 and Form GSTR-5A

GSTN has released a new advisory. Pl read the details below. In accordance with recent amendments to the CGST/SGST Act, IGST Act, and CGST/SGST Rules, any entity located outside the taxable territory, providing online money gaming services to individuals within the taxable territory, is now obligated to register under GST and fulfill the associated tax …

Categorization and Registration Requirements for Providers of Online Money Gaming Services and OIDAR, including Form GST REG-10 and Form GSTR-5A Read More »

What is Phase 2 of e-Invoicing in KSA?
19Oct

What is Phase 2 of e-Invoicing in KSA?

This phase signifies a significant step towards a more modern and efficient tax system, enhancing transparency and efficiency for taxpayers and the ZATCA alike. Through the integration of technology and proactive communication, the tax landscape is set to evolve for the benefit of all stakeholders involved. Let’s break down the information into key points

What is e-invoicing in Saudi Arabia?
11Oct

What is e-invoicing in Saudi Arabia?

Fatoorah: A guide to e-invoicing in KSA Fatoorah is the Arabic word for invoice, and in Saudi Arabia, it is widely used to refer to e-invoicing. E-invoicing is a process of issuing and exchanging invoices electronically, using a structured electronic format. This process has a number of benefits over traditional paper-based invoicing, including: In KSA, …

What is e-invoicing in Saudi Arabia? Read More »

Saudi Arabia’s E-Invoicing Revolution: A Wave of Digital Transformation
10Oct

Saudi Arabia’s E-Invoicing Revolution: A Wave of Digital Transformation

In a groundbreaking move towards modernizing its tax system and embracing digital transformation, Saudi Arabia has announced a series of waves that will revolutionize the way businesses manage their invoices. These waves, part of Phase 2 of the country’s e-invoicing initiative, are set to roll out gradually, impacting businesses of various sizes over the next …

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Advisory: e-Invoice JSON download functionality Live on the GST e-Invoice Portal
09Oct

Advisory: e-Invoice JSON download functionality Live on the GST e-Invoice Portal

GSTN has released a new advisory regarding json download functionality. Pl read the details below.. Dear valued GST Portal users, We are thrilled to announce that the e-Invoice JSON download functionality is now live on the GST Portal. This feature promises to streamline your tax compliance journey, making it more efficient and hassle-free. To help …

Advisory: e-Invoice JSON download functionality Live on the GST e-Invoice Portal Read More »

GSTN temporarily halts auto-population of e-invoices in GSTR-1
28Sep

GSTN temporarily halts auto-population of e-invoices in GSTR-1

Important update for taxpayers: Auto-population of e-invoices in GSTR-1 temporarily halted Due to essential system upgrades, the GSTN has temporarily halted the auto-population of e-invoices in GSTR-1 from September 26-29, 2023. This will not impact GSTR-1 filing for next month, and the data for this period will be auto-populated on September 30, 2023. Please avoid …

GSTN temporarily halts auto-population of e-invoices in GSTR-1 Read More »

GST Portal launches new feature to track ITC claimed, reversed, and re-claimed
19Sep

GST Portal launches new feature to track ITC claimed, reversed, and re-claimed

Taxpayers can report their opening balance of ITC Reversal until November 30, 2023. After that, the option to report the opening balance will be removed, and it will be assumed that the taxpayer has no ITC Reversal Balance to report. The Electronic Credit Reversal and Re-claimed Statement shows the Input Tax Credit (ITC) claimed, reversed, …

GST Portal launches new feature to track ITC claimed, reversed, and re-claimed Read More »

“GST Update: 30-Day Reporting Deadline for High AATO Taxpayers Starting Nov 1, 2023”
13Sep

“GST Update: 30-Day Reporting Deadline for High AATO Taxpayers Starting Nov 1, 2023”

In a noteworthy update, the GST e-invoice system has announced a pivotal change on September 11, 2023. As directed by the GST Authority, a crucial amendment is set to take effect from November 1, 2023, imposing a strict 30-day time limit for reporting invoices from their date of issuance on e-invoice portals. This new mandate …

“GST Update: 30-Day Reporting Deadline for High AATO Taxpayers Starting Nov 1, 2023” Read More »

GSTN Issues Strong Warning Against Unauthorized Scraping of GST Common Portal
11Sep

GSTN Issues Strong Warning Against Unauthorized Scraping of GST Common Portal

The Goods and Services Tax Network (GSTN) has recently issued a stern advisory directed at GST Suvidha Providers (GSPs), cautioning them against engaging in unethical practices, particularly the act of scraping data from the GST Common Portal. GST Suvidha Providers are third-party entities officially authorized by GSTN to assist taxpayers in navigating the complexities of …

GSTN Issues Strong Warning Against Unauthorized Scraping of GST Common Portal Read More »

Navigating the GST Maze: Struggles of Small Taxpayers Amidst Growing Challenges
31Aug

Navigating the GST Maze: Struggles of Small Taxpayers Amidst Growing Challenges

Since its inception in 2017, the Goods and Services Tax (GST) promised a streamlined tax structure, aiming to usher in efficiency and simplicity. However, the reality for many small taxpayers has proven to be quite different – a tangle of complexities that has left them grappling with uncertainty. At the heart of the predicament lie …

Navigating the GST Maze: Struggles of Small Taxpayers Amidst Growing Challenges Read More »

Safeguarding Your Interests: The Vitality of Diligence for Small Taxpayers in Reviewing GST Demand Notices
25Aug

Safeguarding Your Interests: The Vitality of Diligence for Small Taxpayers in Reviewing GST Demand Notices

The Goods and Services Tax (GST) was introduced in India in 2017 with the promise of simplifying the tax system and making it more efficient. However, for many small taxpayers, the GST has been anything but simple. One of the biggest problems for small taxpayers is the GST demand notices. These notices are sent by …

Safeguarding Your Interests: The Vitality of Diligence for Small Taxpayers in Reviewing GST Demand Notices Read More »

New GST Scheme ‘Mera Bill Mera Adhikaar’ Promotes Invoicing: Chance to Win Prizes
21Aug

New GST Scheme ‘Mera Bill Mera Adhikaar’ Promotes Invoicing: Chance to Win Prizes

The Goods and Services Tax (GST) authorities are set to launch the ‘Mera Bill Mera Adhikaar’ scheme on September 1st, aiming to encourage consumers to request invoices for their purchases. Initially rolling out in Haryana, Assam, Gujarat, and the union territories of Dadra and Nagar Haveli, Daman and Diu, and Puducherry, this scheme holds exciting …

New GST Scheme ‘Mera Bill Mera Adhikaar’ Promotes Invoicing: Chance to Win Prizes Read More »

“Mandatory E-Invoicing for Businesses with Turnover over ₹5 Crore Starting August 1st”
18Aug

“Mandatory E-Invoicing for Businesses with Turnover over ₹5 Crore Starting August 1st”

Starting August 1, 2023, traders with an annual turnover of more than ₹5 crore will be required to generate electronic invoices (e-invoices) for their business-to-business (B2B) transactions and exports. This is a significant change from the previous threshold of ₹10 crore, and it is expected to bring more businesses under the e-invoicing system. E-invoicing is …

“Mandatory E-Invoicing for Businesses with Turnover over ₹5 Crore Starting August 1st” Read More »

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