As per the new update issued by GST, e-Invoice system says the taxpayers with turnover between Rs. 10 crore and Rs. 20 crore are enabled for testing on the Sandbox system.
The following validations are implemented:
- Reverse charge is not applicable for transactions if the recipient taxpayer type is ISD
- Deemed exports is allowed for recipient taxpayers with taxpayer type as Regular or Casual
- Tax rate 0.5% is withdrawn
Source #GST e-Invoice system
We have recently released the 7th Edition (May, 2022) of our book on Goods and Services Tax, titled, “GST LAW AND COMMENTARY – WITH ANALYSIS AND PROCEDURES”, updated with the Finance Act, 2022 in a set of 4 Volumes. We thank you all for the support and your enduring response.
Have a look at the complete tour of the Book at: https://cutt.ly/nF6O0oN
Order your copy now and be a part of the GST learning excursion in the most comprehensive and lucid form !!
For more details and purchase online at: https://cutt.ly/RFMox8D