Recent GST changes simplify post-sale discounts via Credit Notes, mandate invoice-wise TDS reporting in GSTR-7, impose a 3-year limit on filing old returns, and introduce electronic filing for GSTAT ...

A negative invoice or credit note is a form letter sent from a business/seller to a product buyer. According to BusinessDictionary.com, a credit note states that the business is crediting a portion of ...

GSTN has announced major changes to the Invoice Management System (IMS) effective October 2025. Key updates include pending ...

GSTN's new advisory introduces changes to the Invoice Management System, including an option to keep credit notes pending and a facility to declare ITC reversal ...

According to a recent advisory issued by the GSTN, the changes are aimed at reducing disputes, lowering the compliance burden ...

If goods are exchanged, the Requester creates and submits a new requisition for the replacement goods. The original invoice for the returned goods and any invoices for replacement goods must be paid ...

The Ministry of Finance (MoF) announced the issuance of two Ministerial Decisions clarifying the scope of obligations and the ...