Padmavathi Narayanan &CO.

Dear CMA's,

A humble request to vote for me in serial no. 12 with first preference in ICMAI - SIRC ELECTION 2023.

Best Regards,
CMA NARAYANAN, PADMAVATHI

Dear CMA's,

Wishing you all a very happy CMA Foundation day.

Regards
CMA Padmavathi Narayanan

Dear Tax payers,

E-invoicing has come into effect from Oct 01, 2020 for businesses with aggregate turnover exceeding Rs. 500 cr. in any preceding FY from 2017-18 onwards.

https://www.gst.gov.in/newsandupdates/read/405

More details 👇👇👇👇👇👇

e-invoicing – Relaxation and latest changes
01/10/2020

1.‘e-invoicing’ for certain classes of taxpayers has come into effect from 1-10-2020.

2.Keeping in view the hardships faced by the taxpayers due to COVID-19 lockdown and as some of these taxpayers are still not ready, as a last chance, Government had given relaxation that invoices raised by notified taxpayers during October, 2020 without following e-invoice procedure (i.e. uploading invoice details on e-invoice portal (IRP), obtaining IRN and issuing invoice with QR Code) will be deemed to be valid and no penalty will be there if the IRN for such invoices is obtained within 30 days of date of invoice.

3.Further, vide notifications (Central Tax) 70/2020 and 72/2020 dated 30-9-2020, certain amendments and additions were made in respect of e-invoicing. Below is the summary of amendments:

Regarding aggregate turnover threshold, it was specified that those who crossed Rs. 500 Cr. in any preceding financial year from 2017-18 onwards, will be covered.
Supplies for ‘exports’ are also specifically included under e-invoicing.
QR code, having the Invoice Reference Number (IRN) to be part of invoice copy issued to buyer.
In case of any contingency, Commissioner can exempt a person or a class of registered persons from e-invoicing for a specified period.
Where e-invoicing is applicable, physical copy of invoice need not be carried (during movement of goods) and it is sufficient if the QR code having IRN is produced electronically, for verification by proper officer.

Thanks
Padmavathi Narayanan & Co.

Dear Tax payers,

The Annual return dates are extended
GSTR-9,9C DATES EXTENSION FROM CBIC

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GOOD NEWS TO THE TAX PAYERS

GST ANNUAL RETURNS FILING DATE EXTENDED TILL 3RD FEBRUARY 2020 FOR SOUTH INDIA.

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