- Always wanted to join the Army: Gen Bipin Rawat
- Russian interference had no impact on US presidential polls: Trump
- PM Modi holds 'substantiative' talks with Iran Prez
- Arvinder Singh Lovely rejoins Congress
- CBI arrests 2 PNB officials, authorised signatory of Nirav Modi company
- Cheating case: Developer DS Kulkarni detained in Delhi
- Sex ratio at birth dips in 17 of 21 large states, Guj records 53 points fall
- I don't feel like competing with anyone: Kohli
- Poll candidates must disclose source of income: SC
- CBI approaches Interpol to locate Nirav Modi
- SC reduces TN's Cauvery water share
GSTN portal to be ready for invoice uploading from July 24
Businesses can start uploading their sale and purchase invoices generated post July 1 on the GSTN portal from July 24, a top company official said on Sunday.
The Goods and Services Tax has kicked in from July 1 and so far, the GST Network, the company handling the IT backbone for new tax regime, has been facilitating registration of businesses.
“We plan to launch the invoice upload utility on the portal on July 24 so that businesses can come forward and start uploading the invoices on a daily or weekly basis to avoid month-end rush,” GSTN Chairman Navin Kumar told the news agency.
Generating invoices for dealings above Rs 200 and keeping invoice records in serial number even if maintained manually, are pre-requisites for claiming input tax credit under the GST regime.
The GSTN had last month launched an offline Excel format for businesses to keep their invoice records and from July 24 this Excel sheet can be uploaded on the portal.
Kumar said GSTN would put up a video on its portal to assist businesses in uploading invoices.
Besides, a call centre help desk has been set up to assist taxpayers regarding any query they might have about the new tax regime.
“We have been reaching out to trade and industry associations telling them that those who have about 10,000 invoices a day, they should upload it on GSTN portal on a daily/weekly basis to avoid last moment rush,” Kumar said.
So far, over 69 lakh excise, VAT and Service Tax assessees have migrated to the GSTN portal and nearly five lakh new registrations have happened under GST.
Under GST, which is a single tax in place of multiple central and state levies like excise, service tax and VAT, businesses are required to upload on GSTN portal invoices of their trade every month.
Kumar had earlier said that the offline Excel tool can upload 19,000 invoices data on GSTN portal at one go and the process takes just half a minute.
So, if businesses which generate about 10,000 invoices a day upload the data on a daily or weekly basis, it would be less cumbersome for them.
While uploading invoice on the GSTN portal, a business would need to mention the invoice number and date, customer name, shipping and billing address, customer and taxpayer’s GSTIN, place of supply and HSN code.
Also, the taxable value and discounts and rates of CGST, SGST and IGST would have to be filled, along with item wise details like description, quantity and price.
- Business Corner 17 Feb 2018 | Pioneer
- SRM University inks MoU with NASSCOM 17 Feb 2018 | PNS
- AAI plans to invest Rs 15k cr on airport terminals in next fiscal, says Chairman 17 Feb 2018 | PTI
- LIC posts 11.5% growth in premium income at Rs 2.23 tln in 9 month period 17 Feb 2018 | PTI
- SEBI eases accessibility for FPIs 17 Feb 2018 | PTI
- Govt expects to finalise 5G service roadmap by Jun 17 Feb 2018 | PNS
- RIL to buy 65% stake in IFC for Rs 1,105 cr 17 Feb 2018 | PNS
- Penalty up to Rs 50L/circle for predatory tariff: TRAI 17 Feb 2018 | PNS
- Fix risk management system, says India Inc 17 Feb 2018 | PNS
- ‚ÄėSBI has $212-mn exposure via PNB‚Äô 17 Feb 2018 | PTI
Sunday EditionView All
18 Feb 2018 | IANS | Jaipur
At least nine persons were killed and 18 others injured when two LPG cylinders exploded at a wedding in Beawar in Rajasthan's Ajmer district, police said on Saturday. According to police, six persons were referred to a hospital in Ajmer while 12 were referred to the district hospital in Beawar...
STATE EDITIONSView All
18 Feb 2018 | Staff Reporter | Bhopal
Madhya Pradesh Government has worked with dedication in education, health, food, agriculture, irrigation and tribal welfare, said Public Relations Minister Narottam Mishra while addressing public meeting during campaigning for Kolaras by-election. Minister Mishra addressed meetings at Khatorda, Barod, Hairpur, Emloda and Toria regions...