E-Way Bills: What Service Businesses Need to Know
Mostly a goods requirement, but service businesses that move materials, tools or equipment get caught by it more often than they expect.
GST tips, sales strategies, product updates, and real success stories from Indian businesses.
Mostly a goods requirement, but service businesses that move materials, tools or equipment get caught by it more often than they expect.
Notices are usually generated by a mismatch, not by suspicion. Knowing which mismatches the system looks for is most of the defence.
A lower rate and far less paperwork, in exchange for giving up input credit and the ability to bill GST to your customers.
If you pay for professional or contract services, you may be required to deduct tax before paying. Getting it wrong is expensive on both sides.
Their paperwork problem becomes your cash problem, because input credit you cannot see is input credit you cannot claim.
Taking an advance for a service creates a GST liability on the day you receive it, not on the day you invoice.
Sometimes the buyer pays the GST instead of the seller. Knowing when that applies to you avoids a bill you did not budget for.
Goods get an HSN code, services get a SAC. Using the wrong one is one of the most common reasons a GST return gets questioned.
The turnover threshold, what changes on the day it applies to you, and why a self-made invoice number stops being valid.