E-Invoices Auto-Population into GSTR-2A, 2B and Impact on Input Tax Credit

Auto-population of e-invoice details into GSTR-1/2A

Auto-population of E-Invoices into GSTR-2A/2B through GSTR-1  Invoices once auto-populated into GSTR-1 will auto-populate in recipient’s GSTR-2A as well on near real time basis as GSTR-1 and GSTR-2A flow works on real time basis. However, in recipient’s GSTR-2B it will auto-populate after filing of GSTR-1 of supplier (data already prescribed i.e. 13th of succeeding month). […]

Summary of Allowability of ITC in case of Freight

ITC in case of Freight

S. No. Situation Payment Terms Input Tax Credit Allowability 1. Where Goods Transport Agency is Registered – GST on Freight shall be charged at 5%. Pay Tax under reverse charge as per bill of Goods Transport Agency ITC with respect to 5% paid to the transporter shall be eligible. 2. Where Goods Transport Agency is […]