GST-registered businesses with annual turnover of more than Rs 5 crore will soon have to generate electronic invoices for B2B transactions. The GST Council, comprising finance ministers of the Centre and states, had decided to implement it in a phased manner and with e-invoices being generated, for every B2B (Business-to-Business) transaction, invoice matching by tax authorities would not be required under Goods and Services Tax (GST). Currently, businesses with turnover of over Rs 20 crore will have to generate e-invoices for B2B transactions. GST, or Goods and Services Tax, is an indirect tax imposed on the supply of goods and services. It is a multi-stage, destination-oriented tax imposed on every value addition, replacing multiple indirect taxes, including VAT, excise duty, service taxes, etc.
What components make up the mixture known as Producer gas?
What is the process called that forms a protective oxide layer on aluminum?
Which of the following is polyatomic?
Which metal is commonly used as an antiperspirant in deodorants?
Which element is used in pencil leads?
Which of the following fatty acids does NOT form soap?
Whose experiments supports Abiotic synthesis?
Which of the following is NOT a property of acids?
Which enzyme is responsible for converting triglycerides into fatty acids and glycerol?
Which chemical compound is commonly used in baking to provide more volume and a lighter texture to baked goods?
