The document provides information on e-invoicing, new GST returns, and integrated GST solutions in India. It discusses the proposed e-invoicing infrastructure and process, highlighting key aspects like mandatory fields. New GST returns being introduced include Normal, Sahaj, and Sugam returns filed monthly or quarterly depending on taxpayer turnover. The document outlines differences between the existing and new return filing processes.
E-Invoicing: A Complete Guide to India & GST System | Academy Tax4wealthAcademy Tax4wealth
E-Invoice generation is mandatory for businesses with an annual turnover of Rs 10 Cr. Read this blog about the complete guidelines on e-invoicing under GST.
For more information, visit us at:-
https://academy.tax4wealth.com/blog/e-invoicing
The GST Council has decided to introduce with centralized issuance of an unique number (Invoice Reference number) for each B2B invoice on reporting of invoice data to a central portal with effective(Mandate) date from 1stApril 2020 for all Tax payers The new system will lead to one-time reporting on B2B invoice data in the form it is generated to reduce reporting in multiple formats (one for GSTR 1 and the other for e-way bill) and to generate Sales and Purchase Registers (ANX-1 and ANX-2) and from this data to keep the Return (RET-1 etc.) ready for filing.
The Digital Compliance Platform from SAP helps companies integrate and automate compliance processes related to the Goods and Services Tax (GST) in India. It provides seamless integration between SAP ERP systems and the GST network, automates processes like invoice submission and reconciliation, and gives real-time visibility into compliance status. The platform handles disparate systems for GST reporting, e-invoicing, and e-way bills through a single dashboard.
The Goods and Services Tax (GST) is introduced to bring a single unified tax regime for India, which will consolidate many different taxes into a single tax regime.
The intention is to bring predictability and lower operating costs for businesses because the GST will reduce the overall tax burden by reducing the impacts of cascading taxes and allow the cross-utilization of tax credits across the supply chain.
All the enterprises must gear up for a smooth deployment of GST related changes in their application landscape. Without proper technical and application environment, GST compliance will be impossible.
Customer challenges
Organizations do not necessarily have in-house expertise to cope up with the deployment and management of changes related to GST. As the government tries to streamline the process, periodic changes and report requirements (GSTR1, GSTR2, e-Way Bill, e-Invoicing etc.) are generated.
SAP is regularly delivering various notes and patches to support the technical architecture for addressing these requirements.
However, extracting the accurate data from the SAP system and then integrating it to the GSTN Portal (either with our without the help of GSP/ASP) is a huge challenge requiring substantial efforts.
This document provides an overview of GST in India. It discusses the current indirect tax system and its challenges. An ideal GST model is proposed with a single rate across states, a common portal, and integrated ICT solution. The current GST implementation involves a dual GST with CGST and SGST for intra-state and CGST and IGST for inter-state transactions. Significant ICT development is underway including the GSTN portal for registration, returns, and settlement between states. Several policy and technical aspects still need to be decided for full implementation.
E-invoicing or ‘electronic invoicing’ is a process in which B2B invoice are authenticated electronically by GSTN for further use on the common GST portal
The e-Way bill is an electronically generated document which is required for the movement of goods of value more than INR 50000, from one location to another.
GSTN was registered as a non-government, not-for-profit company to provide the IT backbone for GST. It has various shareholders including central and state governments. Taxpayers will need to regularly file various returns containing supply data and purchase information. Technology is needed for invoice uploading, return filing, and data matching between taxpayer and government systems. APIs allow software to access operating system and application features. GSPs and ASPs help taxpayers with GST compliance through technology solutions and filing returns.
Webinar: Is your Manufacturing Procure2Pay ready to meet e-invoicing mandate?Sensiple Inc.,
The Indian Government has mandated e-invoicing for the 100-crore club, and this becomes a crucial requirement for Indian manufacturer to interface with the e-invoicing portal as Buyer andor Seller. The integrated P2P solution should fetch the EDI data from e-Invoicing portal, transfer mapped data into ERPs, initiate digital workflow & approvals.
E-Invoicing: A Complete Guide to India & GST System | Academy Tax4wealthAcademy Tax4wealth
E-Invoice generation is mandatory for businesses with an annual turnover of Rs 10 Cr. Read this blog about the complete guidelines on e-invoicing under GST.
For more information, visit us at:-
https://academy.tax4wealth.com/blog/e-invoicing
The GST Council has decided to introduce with centralized issuance of an unique number (Invoice Reference number) for each B2B invoice on reporting of invoice data to a central portal with effective(Mandate) date from 1stApril 2020 for all Tax payers The new system will lead to one-time reporting on B2B invoice data in the form it is generated to reduce reporting in multiple formats (one for GSTR 1 and the other for e-way bill) and to generate Sales and Purchase Registers (ANX-1 and ANX-2) and from this data to keep the Return (RET-1 etc.) ready for filing.
The Digital Compliance Platform from SAP helps companies integrate and automate compliance processes related to the Goods and Services Tax (GST) in India. It provides seamless integration between SAP ERP systems and the GST network, automates processes like invoice submission and reconciliation, and gives real-time visibility into compliance status. The platform handles disparate systems for GST reporting, e-invoicing, and e-way bills through a single dashboard.
The Goods and Services Tax (GST) is introduced to bring a single unified tax regime for India, which will consolidate many different taxes into a single tax regime.
The intention is to bring predictability and lower operating costs for businesses because the GST will reduce the overall tax burden by reducing the impacts of cascading taxes and allow the cross-utilization of tax credits across the supply chain.
All the enterprises must gear up for a smooth deployment of GST related changes in their application landscape. Without proper technical and application environment, GST compliance will be impossible.
Customer challenges
Organizations do not necessarily have in-house expertise to cope up with the deployment and management of changes related to GST. As the government tries to streamline the process, periodic changes and report requirements (GSTR1, GSTR2, e-Way Bill, e-Invoicing etc.) are generated.
SAP is regularly delivering various notes and patches to support the technical architecture for addressing these requirements.
However, extracting the accurate data from the SAP system and then integrating it to the GSTN Portal (either with our without the help of GSP/ASP) is a huge challenge requiring substantial efforts.
This document provides an overview of GST in India. It discusses the current indirect tax system and its challenges. An ideal GST model is proposed with a single rate across states, a common portal, and integrated ICT solution. The current GST implementation involves a dual GST with CGST and SGST for intra-state and CGST and IGST for inter-state transactions. Significant ICT development is underway including the GSTN portal for registration, returns, and settlement between states. Several policy and technical aspects still need to be decided for full implementation.
E-invoicing or ‘electronic invoicing’ is a process in which B2B invoice are authenticated electronically by GSTN for further use on the common GST portal
The e-Way bill is an electronically generated document which is required for the movement of goods of value more than INR 50000, from one location to another.
GSTN was registered as a non-government, not-for-profit company to provide the IT backbone for GST. It has various shareholders including central and state governments. Taxpayers will need to regularly file various returns containing supply data and purchase information. Technology is needed for invoice uploading, return filing, and data matching between taxpayer and government systems. APIs allow software to access operating system and application features. GSPs and ASPs help taxpayers with GST compliance through technology solutions and filing returns.
Webinar: Is your Manufacturing Procure2Pay ready to meet e-invoicing mandate?Sensiple Inc.,
The Indian Government has mandated e-invoicing for the 100-crore club, and this becomes a crucial requirement for Indian manufacturer to interface with the e-invoicing portal as Buyer andor Seller. The integrated P2P solution should fetch the EDI data from e-Invoicing portal, transfer mapped data into ERPs, initiate digital workflow & approvals.
This document provides details on key features of e-invoicing in India, including:
1) E-invoices are generated from ERP/accounting systems and assigned a unique Invoice Reference Number (IRN) by the Invoice Registration Portal.
2) Certain legal provisions mandate e-invoicing for specified businesses based on turnover.
3) Exempted categories and processes for e-invoicing generation and amendments/cancellations are described.
4) Types of documents, supplies, and businesses covered under e-invoicing are specified.
En ebook-e-invoicing-under-gst-applicability-updates-mandates-and processNiranjanaDhumal
This e-book also answers further questions such as: why e-invoicing under GST is being implemented in India? How is an e-way bill generated with the e-invoicing process? How can you benefit from a solution to seamlessly transition towards GST e-invoicing? What should you expect and need from an e-invoicing software before settling for a solution?
This document provides guidance on applying GST in the CODA accounting software. It explains the various GST codes that have been set up, how to handle input tax, output tax, blocked GST, fixed asset additions, non-recoverable GST, and deemed supply scenarios. Special accounts and document types have been created to properly record GST transactions for reporting and compliance purposes.
#E invoicing w.e.f. 1st Ap'2020# By SN Panigrahi,
E - Invoicing is a form of Electronic Billing,
E-Invoice : Advantages,
E-Invoice Notifications,
Type of Documents to be Reported to GSTN System,
Critical Aspects of E-Invoicing,
Process to Generate an E-invoice under GST,
QR Code,
E-Invoice : Important Links
Workflow of E-Invoice,
Some of the Software Interface Providers
# Annual Return for Composition Dealer GSTR 9A # By SN PanigrahiSN Panigrahi, PMP
Annual Return for Composition Dealer GSTR 9A
The GSTR-9A is an annual return that has to be filed by business owners who are part of the composition scheme. This return will include all the information that the composite dealers have provided in their quarterly returns during the financial year.
The document discusses India's new eInvoice requirements which will become mandatory on April 1, 2020. Key points include:
- Businesses over ₹500 crore turnover must issue eInvoices starting January 2020, while those over ₹100 crore can start voluntarily in February.
- eInvoices will require a unique 64-digit IRN number and QR code to be considered valid for input tax credit.
- SAP offers both manual and automated solutions for generating eInvoices and IRNs in real-time directly from SAP ERP or S/4HANA systems.
- The automated solution uses SAP Document Compliance and cloud integration with the IRP portal to issue signed e
The document provides an overview of the proposed roadmap for implementing GST in SAP. It discusses key aspects like the GST components, impact on existing tax systems, prerequisites for implementation in SAP, the process for migrating from TAXINJ to TAXINN, required master data changes, tax configuration, business processes, reporting and the role of GSTN and GSP providers. The implementation will require resources across various SAP modules and involve changes to taxation rules, document numbering, accounts, processes and configuration.
Gst implementation road map by endeavour technologiesNiranjan Emparala
The document provides an overview of the proposed roadmap for implementing GST in SAP. It discusses key aspects like the GST components, impact on existing tax systems, prerequisites for implementation in SAP, the process for migrating from TAXINJ to TAXINN, required master data changes, tax configuration, business processes, reporting, and the role of GSTN and GSPs in the digital infrastructure. The implementation will require resources across various SAP modules and involve changes to taxation, billing, purchasing, and reporting processes.
The document provides an overview of the proposed roadmap for implementing GST in SAP. It discusses key aspects like the GST components, impact on existing tax systems, prerequisites for implementation in SAP, the process for migrating from TAXINJ to TAXINN, required master data changes, tax configuration, business processes, reporting and the role of GSTN and GSP providers. The implementation will require resources across various SAP modules and involve changes to taxation rules, document numbering, accounts, processes and configuration.
The document discusses e-invoicing in India, which involves generating invoices electronically and validating them through the GSTN portal. E-invoicing will be mandatory for businesses with over 100 crore turnover from January 2021. Key aspects covered include the e-invoicing process, integration with ERP systems, benefits like standardization and automation, and changes required to ERPs for compliance. E-invoices are generated within ERPs, validated by the IRP which issues an IRN and QR code, and details flow to GST and e-way bill systems in real-time. ERP changes include preparing JSON files, capturing transaction types, and integrating with APIs to exchange data.
The document discusses India's proposed Goods and Services Tax (GST) plan. It notes that the current indirect tax system in India is plagued by multiple taxes at different rates levied at multiple points. The GST plan aims to introduce a single, unified indirect tax based on the principle of "One Country, One Tax." It is expected to allow for seamless input tax credits across India, lower costs for end customers, and make the movement of goods more free by prioritizing qualitative considerations. The document also provides details on the proposed GST structure and comparisons to the existing indirect tax structure.
The document outlines the agenda for a webcast on opportunities in GST, including a brief background on GST and transitional challenges. It then provides details on the timing allocated to various topics, including impact analysis through examples and key impact areas. The impact areas discussed include the need to re-engineer processes, procurement, credit carry forward claims, exemptions, composition scheme, vendor management, agreements, and accounting practices.
The document discusses India's proposed e-invoicing system for business-to-business transactions under GST. Key points:
1) E-invoices will be generated by businesses using their accounting software and uploaded to an Invoice Registration Portal (IRP), which will generate a unique ID (IRN) and digitally sign the invoice.
2) The IRP will share e-invoice data with GST and e-way bill systems to pre-populate returns and generate e-way bills from invoices.
3) Adopting e-invoicing standards will make invoices interoperable across systems, eliminating errors from re-entry of data.
Best freight forwarding ERP Software - CargoNetSmita Raghunath
CargoNet is a freight forwarding and logistics ERP software that aims to bring businesses to the next level. It exclusively works for the logistics industry and provides high quality software. CargoNet incorporates features for integrating distributed data across branches and networks while maintaining high availability, performance, data integrity and security. It provides functionality for different segments of the supply chain including freight forwarders, transporters, agents and more.
Australian Business Register - freedom to increase productivityReckon
This presentation was given by Mark Jackson, ATO, at the Reckon Group Conference held at the Hilton in Sydney between 21-23 August. Find out more at www.ato.gov.au
GST Alert 9 - E-Invoicing effective from 01.01.2021NiteshJain148
The document discusses India's introduction of electronic invoicing or e-invoicing requirements under the GST system. Key points include:
- E-invoicing will be mandatory for businesses with annual turnover above Rs. 500 Cr from October 2020 and above Rs. 100 Cr from January 2021.
- E-invoices must contain an Invoice Reference Number (IRN) and QR code generated from the Invoice Registration Portal (IRP). Invoices without these will not be valid.
- For B2C invoices above the turnover limits, a dynamic QR code must be generated instead of a full e-invoice. Compliance for QR codes has been extended to April 2021.
The document discusses e-invoicing requirements in India. Key points:
- E-invoicing means reporting invoice details to the Invoice Registration Portal for authentication and generating a unique invoice reference number.
- Certain businesses must issue e-invoices based on their aggregate turnover over the past three fiscal years, starting with businesses over Rs. 500 crore from October 2020 and over Rs. 100 crore from January 2021.
- The e-invoicing process involves uploading invoice details to the portal which validates the details, generates a QR code and digitally signs the e-invoice. The QR code must be printed on the invoice.
The document provides transaction codes and descriptions for various excise duty and tax related processes in India. Some key points:
- There are transaction codes for processes like creating excise invoices, registers, returns, migration tools, and more.
- Master data like customer, plant, and item masters have excise related fields to track tax numbers and duty rates.
- Sales processes incorporate excise duty calculation and invoice creation for factories, depots, and other movements.
- Special processes address exports, exemption forms, export oriented units, and batch excise invoice creation.
In summary, the document outlines the SAP transaction codes and master data for comprehensively handling Indian excise duty and tax compliance
Gst digital compliance roadmap jan2010 v1Lokesh Modem
The document discusses SAP's Digital Compliance Service roadmap for assisting companies in India with GST reporting and compliance. It outlines upcoming features for e-invoicing, eWay bills, GST filing forms, and reconciliation dashboards. Key points include the planned rollout of real-time e-invoicing in 2020, enhancements to the eWay bill system, and new utilities for GST return forms that will allow automated reconciliation with supplier/recipient records.
The document provides an overview of India's Faceless Assessment Scheme. Key points include:
1. The scheme aims to make the tax assessment process faceless, paperless, and anonymous through the use of technology.
2. Assessments will be conducted by assessment units organized under National and Regional E-Assessment Centers, removing direct interaction between taxpayers and individual tax officers.
3. Most income tax cases will be eligible for faceless assessment, except for certain sensitive cases involving serious tax evasion.
4. The document outlines the legal provisions, organizational structure, and step-by-step procedures for conducting assessments under the new faceless system.
The document outlines the various finance and accounting outsourcing services provided by SBC such as accounts payable, accounts receivable, bookkeeping, payroll processing, tax preparation and filing, audit assistance, and virtual CFO services. It also details additional services including business process outsourcing, business makeovers, legal services, and virtual CFO services. SBC aims to help clients streamline their finance functions, ensure compliance, and gain insights for improved decision making.
More Related Content
Similar to GST - E-Invoicing and New GST Returns.pdf
This document provides details on key features of e-invoicing in India, including:
1) E-invoices are generated from ERP/accounting systems and assigned a unique Invoice Reference Number (IRN) by the Invoice Registration Portal.
2) Certain legal provisions mandate e-invoicing for specified businesses based on turnover.
3) Exempted categories and processes for e-invoicing generation and amendments/cancellations are described.
4) Types of documents, supplies, and businesses covered under e-invoicing are specified.
En ebook-e-invoicing-under-gst-applicability-updates-mandates-and processNiranjanaDhumal
This e-book also answers further questions such as: why e-invoicing under GST is being implemented in India? How is an e-way bill generated with the e-invoicing process? How can you benefit from a solution to seamlessly transition towards GST e-invoicing? What should you expect and need from an e-invoicing software before settling for a solution?
This document provides guidance on applying GST in the CODA accounting software. It explains the various GST codes that have been set up, how to handle input tax, output tax, blocked GST, fixed asset additions, non-recoverable GST, and deemed supply scenarios. Special accounts and document types have been created to properly record GST transactions for reporting and compliance purposes.
#E invoicing w.e.f. 1st Ap'2020# By SN Panigrahi,
E - Invoicing is a form of Electronic Billing,
E-Invoice : Advantages,
E-Invoice Notifications,
Type of Documents to be Reported to GSTN System,
Critical Aspects of E-Invoicing,
Process to Generate an E-invoice under GST,
QR Code,
E-Invoice : Important Links
Workflow of E-Invoice,
Some of the Software Interface Providers
# Annual Return for Composition Dealer GSTR 9A # By SN PanigrahiSN Panigrahi, PMP
Annual Return for Composition Dealer GSTR 9A
The GSTR-9A is an annual return that has to be filed by business owners who are part of the composition scheme. This return will include all the information that the composite dealers have provided in their quarterly returns during the financial year.
The document discusses India's new eInvoice requirements which will become mandatory on April 1, 2020. Key points include:
- Businesses over ₹500 crore turnover must issue eInvoices starting January 2020, while those over ₹100 crore can start voluntarily in February.
- eInvoices will require a unique 64-digit IRN number and QR code to be considered valid for input tax credit.
- SAP offers both manual and automated solutions for generating eInvoices and IRNs in real-time directly from SAP ERP or S/4HANA systems.
- The automated solution uses SAP Document Compliance and cloud integration with the IRP portal to issue signed e
The document provides an overview of the proposed roadmap for implementing GST in SAP. It discusses key aspects like the GST components, impact on existing tax systems, prerequisites for implementation in SAP, the process for migrating from TAXINJ to TAXINN, required master data changes, tax configuration, business processes, reporting and the role of GSTN and GSP providers. The implementation will require resources across various SAP modules and involve changes to taxation rules, document numbering, accounts, processes and configuration.
Gst implementation road map by endeavour technologiesNiranjan Emparala
The document provides an overview of the proposed roadmap for implementing GST in SAP. It discusses key aspects like the GST components, impact on existing tax systems, prerequisites for implementation in SAP, the process for migrating from TAXINJ to TAXINN, required master data changes, tax configuration, business processes, reporting, and the role of GSTN and GSPs in the digital infrastructure. The implementation will require resources across various SAP modules and involve changes to taxation, billing, purchasing, and reporting processes.
The document provides an overview of the proposed roadmap for implementing GST in SAP. It discusses key aspects like the GST components, impact on existing tax systems, prerequisites for implementation in SAP, the process for migrating from TAXINJ to TAXINN, required master data changes, tax configuration, business processes, reporting and the role of GSTN and GSP providers. The implementation will require resources across various SAP modules and involve changes to taxation rules, document numbering, accounts, processes and configuration.
The document discusses e-invoicing in India, which involves generating invoices electronically and validating them through the GSTN portal. E-invoicing will be mandatory for businesses with over 100 crore turnover from January 2021. Key aspects covered include the e-invoicing process, integration with ERP systems, benefits like standardization and automation, and changes required to ERPs for compliance. E-invoices are generated within ERPs, validated by the IRP which issues an IRN and QR code, and details flow to GST and e-way bill systems in real-time. ERP changes include preparing JSON files, capturing transaction types, and integrating with APIs to exchange data.
The document discusses India's proposed Goods and Services Tax (GST) plan. It notes that the current indirect tax system in India is plagued by multiple taxes at different rates levied at multiple points. The GST plan aims to introduce a single, unified indirect tax based on the principle of "One Country, One Tax." It is expected to allow for seamless input tax credits across India, lower costs for end customers, and make the movement of goods more free by prioritizing qualitative considerations. The document also provides details on the proposed GST structure and comparisons to the existing indirect tax structure.
The document outlines the agenda for a webcast on opportunities in GST, including a brief background on GST and transitional challenges. It then provides details on the timing allocated to various topics, including impact analysis through examples and key impact areas. The impact areas discussed include the need to re-engineer processes, procurement, credit carry forward claims, exemptions, composition scheme, vendor management, agreements, and accounting practices.
The document discusses India's proposed e-invoicing system for business-to-business transactions under GST. Key points:
1) E-invoices will be generated by businesses using their accounting software and uploaded to an Invoice Registration Portal (IRP), which will generate a unique ID (IRN) and digitally sign the invoice.
2) The IRP will share e-invoice data with GST and e-way bill systems to pre-populate returns and generate e-way bills from invoices.
3) Adopting e-invoicing standards will make invoices interoperable across systems, eliminating errors from re-entry of data.
Best freight forwarding ERP Software - CargoNetSmita Raghunath
CargoNet is a freight forwarding and logistics ERP software that aims to bring businesses to the next level. It exclusively works for the logistics industry and provides high quality software. CargoNet incorporates features for integrating distributed data across branches and networks while maintaining high availability, performance, data integrity and security. It provides functionality for different segments of the supply chain including freight forwarders, transporters, agents and more.
Australian Business Register - freedom to increase productivityReckon
This presentation was given by Mark Jackson, ATO, at the Reckon Group Conference held at the Hilton in Sydney between 21-23 August. Find out more at www.ato.gov.au
GST Alert 9 - E-Invoicing effective from 01.01.2021NiteshJain148
The document discusses India's introduction of electronic invoicing or e-invoicing requirements under the GST system. Key points include:
- E-invoicing will be mandatory for businesses with annual turnover above Rs. 500 Cr from October 2020 and above Rs. 100 Cr from January 2021.
- E-invoices must contain an Invoice Reference Number (IRN) and QR code generated from the Invoice Registration Portal (IRP). Invoices without these will not be valid.
- For B2C invoices above the turnover limits, a dynamic QR code must be generated instead of a full e-invoice. Compliance for QR codes has been extended to April 2021.
The document discusses e-invoicing requirements in India. Key points:
- E-invoicing means reporting invoice details to the Invoice Registration Portal for authentication and generating a unique invoice reference number.
- Certain businesses must issue e-invoices based on their aggregate turnover over the past three fiscal years, starting with businesses over Rs. 500 crore from October 2020 and over Rs. 100 crore from January 2021.
- The e-invoicing process involves uploading invoice details to the portal which validates the details, generates a QR code and digitally signs the e-invoice. The QR code must be printed on the invoice.
The document provides transaction codes and descriptions for various excise duty and tax related processes in India. Some key points:
- There are transaction codes for processes like creating excise invoices, registers, returns, migration tools, and more.
- Master data like customer, plant, and item masters have excise related fields to track tax numbers and duty rates.
- Sales processes incorporate excise duty calculation and invoice creation for factories, depots, and other movements.
- Special processes address exports, exemption forms, export oriented units, and batch excise invoice creation.
In summary, the document outlines the SAP transaction codes and master data for comprehensively handling Indian excise duty and tax compliance
Gst digital compliance roadmap jan2010 v1Lokesh Modem
The document discusses SAP's Digital Compliance Service roadmap for assisting companies in India with GST reporting and compliance. It outlines upcoming features for e-invoicing, eWay bills, GST filing forms, and reconciliation dashboards. Key points include the planned rollout of real-time e-invoicing in 2020, enhancements to the eWay bill system, and new utilities for GST return forms that will allow automated reconciliation with supplier/recipient records.
Similar to GST - E-Invoicing and New GST Returns.pdf (20)
The document provides an overview of India's Faceless Assessment Scheme. Key points include:
1. The scheme aims to make the tax assessment process faceless, paperless, and anonymous through the use of technology.
2. Assessments will be conducted by assessment units organized under National and Regional E-Assessment Centers, removing direct interaction between taxpayers and individual tax officers.
3. Most income tax cases will be eligible for faceless assessment, except for certain sensitive cases involving serious tax evasion.
4. The document outlines the legal provisions, organizational structure, and step-by-step procedures for conducting assessments under the new faceless system.
The document outlines the various finance and accounting outsourcing services provided by SBC such as accounts payable, accounts receivable, bookkeeping, payroll processing, tax preparation and filing, audit assistance, and virtual CFO services. It also details additional services including business process outsourcing, business makeovers, legal services, and virtual CFO services. SBC aims to help clients streamline their finance functions, ensure compliance, and gain insights for improved decision making.
Steadfast Consulting provides accounts receivable outsourcing services to help organizations improve cash flow. Their services include billing, collections, payment processing, and accounts receivable reporting. Outsourcing accounts receivable to Steadfast allows companies to focus on core business activities while Steadfast handles the labor-intensive back office work. Steadfast has experts that provide tailored accounts receivable solutions and work 24/7 to handle changing workloads.
This document provides an overview of equity share valuation requirements under different statutes in India. It discusses the purpose of equity share valuation for various business decisions and events. The key statutes that require equity share valuation are the Companies Act 2013, Income Tax Act 1961, and Foreign Exchange Management Act 1999. Registered valuers, merchant bankers, and chartered accountants are authorized to conduct valuations depending on the statute. The document also outlines the valuation requirements and purposes under the different statutes. It introduces Steadfast Business Consulting as a firm that can assist with valuation reports and determining fair equity values.
This document discusses equity share valuation under different statutes. It provides an overview of the purpose of equity share valuation and who can perform valuations. It then discusses valuation requirements and triggers under the key statutes - the Companies Act 2013, Income Tax Act 1961, and Foreign Exchange Management Act 1999. Finally, it covers common methods of valuation including discounted cash flow, capitalization of earnings, and asset-based approaches.
The document discusses transfer pricing and international taxation services provided by SBC, including transfer pricing documentation, dispute resolution, advisory services, and compliance filings. It outlines SBC's team of experienced professionals and their expertise in transfer pricing. Key services mentioned include transfer pricing planning, documentation, controversy resolution, risk management, and integrated tax planning. Compliance requirements such as documentation, accountant's reports, master files, and country-by-country reporting are also summarized.
This document summarizes the master file and country-by-country reporting requirements in India. It outlines the applicability, contents, forms, and due dates for master file reporting, including differences from OECD requirements. It also summarizes the applicability, contents in line with the BEPS Action 13 template, and forms and timelines for country-by-country reporting. Finally, it provides the penalties for non-compliance with master file and country-by-country reporting in India.
The document discusses emerging trends and recent judicial precedents related to transfer pricing. It provides an overview of key concepts in transfer pricing such as the arm's length principle, applicable transactions, associated enterprises, international transactions, specified domestic transactions, prescribed transfer pricing methods including comparable uncontrolled price method, resale price method, cost plus method, and profit split method. It also discusses comparables and factors affecting comparability.
The document provides updates on corporate tax and transfer pricing regulations introduced in the United Arab Emirates (UAE). Key points include:
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2) Taxable income will be accounting net profit adjusted under UAE tax law and reported consistently in financial statements. Some exemptions are provided.
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The document summarizes recent amendments made by SEBI to regulations regarding related party transactions for listed entities in India. Key changes include expanding the definition of related parties, lowering the transaction value threshold for classifying deals as material, and increasing disclosure and approval requirements for related party transactions. The new rules are effective from April 1, 2022, with no deferment by SEBI, and aim to strengthen corporate governance standards for listed companies regarding related party dealings.
The document provides an overview of India's Advance Pricing Agreement (APA) regime, including key benefits of APAs, the APA application and conclusion process, sectoral analyses of concluded APAs, and comparative timelines for unilateral versus bilateral APAs. Some key highlights are that over 1,100 APA applications have been filed to date in India, with most being for the services sector. The transactional nature covered most often is payment of royalties. The transactional nature covered most often is payment of royalties. The timeline for bilateral APAs is longer than for unilateral APAs due to involvement of multiple tax authorities.
This document discusses key concepts related to the taxation of non-residents in India, including business connection, permanent establishment, and significant economic presence. It provides an overview of how non-resident companies are taxed in India based on the source of their income. The concept of permanent establishment is defined as a fixed place of business through which the business of an enterprise is carried out. The document outlines different types of permanent establishments under most tax treaties, including fixed place, agency, construction, and service PEs. It also compares and contrasts business connections and permanent establishments.
This document provides an overview of the OECD/G20 Inclusive Framework agreement on Pillars One and Two of the Base Erosion and Profit Shifting (BEPS) project. Pillar One introduces new profit allocation and nexus rules that re-allocate some taxing rights over large multinational enterprises to market jurisdictions. Pillar Two establishes a global minimum corporate tax rate of 15% through two interlocking rules: the Income Inclusion Rule and Undertaxed Payment Rule. The agreement also outlines scope, thresholds, carve-outs, dispute prevention and resolution processes, and guidance for implementation.
The document discusses the services provided by Steadfast Business Consulting LLP related to transaction advisory. It outlines the areas they specialize in including corporate restructuring, regulatory financial structuring, acquisition structuring, divestment advisory, succession planning, inbound investment advisory, outbound advisory, private equity transaction advisory, and funds/REIT/INVIT. It then provides more details on the specific services offered within each area.
Succession planning involves establishing structures and agreements to perpetuate family wealth across generations in a tax efficient manner. It ensures smooth transfer of business and personal assets while mitigating inheritance tax. Key elements include holding companies, partnerships, LLPs, trusts and family constitutions. Succession planning is often done alongside group restructuring to streamline ownership and control of businesses according to strategic vision and tax considerations. Trust structures are commonly used where a trustee holds legal title to trust property for the benefit of beneficiaries. Succession planning requires evaluating various options against tax, legal and regulatory implications.
This document provides an overview of startups in India. Some key details include:
- There are over 41,000 startups recognized by the Department for Promotion of Industry and Internal Trade (DPIIT).
- Startups have reported creating over 4.7 lakh jobs and received over Rs. 4,500 crore in investments through the Fund of Funds scheme.
- Various policies and reforms have been implemented to support startups, including tax benefits, regulatory changes, and programs to help startups access markets and skills training.
This document summarizes various tax and regulatory considerations for Non-Resident Indians (NRIs). It discusses the residential status of individuals under the Indian Income Tax Act and Foreign Exchange Management Act, including the criteria to be considered a resident or non-resident. It also outlines the scope of tax applicable to residents and non-residents based on their residential status. Additionally, it covers special tax provisions for NRIs related to capital gains and TDS, permissible foreign exchange investments, and types of bank accounts NRIs can open and their key features.
The document provides information on taxation and compliance requirements for expatriates working in India. It discusses obtaining the proper work visa and registering with immigration authorities. It also outlines individual tax rates and residency rules in India, as well as key employer obligations like providing maternity leave and minimum wages. Compliance areas like tax registrations, filing returns, and double taxation avoidance agreements are also summarized.
Steadfast Business Consulting LLP is a professional services firm that provides financial, auditing, taxation, secretarial, legal and advisory services. They have a team of qualified professionals with experience in accounting, finance, law, tax, auditing and business process outsourcing. Steadfast focuses on client satisfaction through engagement, team continuity and understanding client needs to provide value-driven solutions. Their objective is to deliver timely, innovative and quality services to businesses.
The document discusses the corporate secretarial services offered by Steadfast Business Consulting LLP. It provides an overview of the company's services including corporate advisory, company formation, compliance checks, secretarial audits, litigation support, and intellectual property advisory. The company aims to help clients comply with complex corporate secretarial requirements through customized solutions and a team of legal and secretarial experts.
Every business, big or small, deals with outgoing payments. Whether it’s to suppliers for inventory, to employees for salaries, or to vendors for services rendered, keeping track of these expenses is crucial. This is where payment vouchers come in – the unsung heroes of the accounting world.
New Visa Rules for Tourists and Students in Thailand | Amit Kakkar Easy VisaAmit Kakkar
Discover essential details about Thailand's recent visa policy changes, tailored for tourists and students. Amit Kakkar Easy Visa provides a comprehensive overview of new requirements, application processes, and tips to ensure a smooth transition for all travelers.
A toxic combination of 15 years of low growth, and four decades of high inequality, has left Britain poorer and falling behind its peers. Productivity growth is weak and public investment is low, while wages today are no higher than they were before the financial crisis. Britain needs a new economic strategy to lift itself out of stagnation.
Scotland is in many ways a microcosm of this challenge. It has become a hub for creative industries, is home to several world-class universities and a thriving community of businesses – strengths that need to be harness and leveraged. But it also has high levels of deprivation, with homelessness reaching a record high and nearly half a million people living in very deep poverty last year. Scotland won’t be truly thriving unless it finds ways to ensure that all its inhabitants benefit from growth and investment. This is the central challenge facing policy makers both in Holyrood and Westminster.
What should a new national economic strategy for Scotland include? What would the pursuit of stronger economic growth mean for local, national and UK-wide policy makers? How will economic change affect the jobs we do, the places we live and the businesses we work for? And what are the prospects for cities like Glasgow, and nations like Scotland, in rising to these challenges?
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This infographic explores the transformative power of Generative AI, a key driver of the 4th Industrial Revolution. Discover how Generative AI is revolutionizing industries, accelerating innovation, and shaping the future of work.
Abhay Bhutada, the Managing Director of Poonawalla Fincorp Limited, is an accomplished leader with over 15 years of experience in commercial and retail lending. A Qualified Chartered Accountant, he has been pivotal in leveraging technology to enhance financial services. Starting his career at Bank of India, he later founded TAB Capital Limited and co-founded Poonawalla Finance Private Limited, emphasizing digital lending. Under his leadership, Poonawalla Fincorp achieved a 'AAA' credit rating, integrating acquisitions and emphasizing corporate governance. Actively involved in industry forums and CSR initiatives, Abhay has been recognized with awards like "Young Entrepreneur of India 2017" and "40 under 40 Most Influential Leader for 2020-21." Personally, he values mindfulness, enjoys gardening, yoga, and sees every day as an opportunity for growth and improvement.
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Laura Adkins-Hackett, Economist, LMIC, and Sukriti Trehan, Data Scientist, LMIC, presented their research exploring trends in the skills listed in OJPs to develop a deeper understanding of in-demand skills. This research project uses pointwise mutual information and other methods to extract more information about common skills from the relationships between skills, occupations and regions.
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Economic Risk Factor Update: June 2024 [SlideShare]Commonwealth
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For more market updates, subscribe to The Independent Market Observer at https://blog.commonwealth.com/independent-market-observer.
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5
OBJECTIVE OF e – INVOICING
Foundation stone for easier compliances with Government
Standards and Protocols for seamless flow of invoice data from one
business entity to the other.
Inherent automation of workflows in intra and inter business
systems
A machine-readable format ensuring automation of entry and
reconciliation resulting in reduced errors.
Reduction in paper use and encouragement of Paperless business.
Simpler reconciliation and reduction of transaction costs.
Reduction in Frauds (False Input Tax Credits).
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MANUAL INVOICE VS e-INVOICE
EXISTING SYSTEM
Invoices are generated through ERP
Invoices issued are not standard and not in machine-
readable formats
No validation of details in the Government portal except
for the details uploaded for generation of e - waybill
Invoices issued are to be separately reported in GSTR 1 and
e- waybill portal
Invoices will continue to be generated through ERP
Schema of the invoice to be standardized and will be in
machine-readable format
Invoice details uploaded to the IRP are validated for
uniqueness and IRN is generated on successful validation
Details of validated invoices to be transmitted to GST portal
(ANX-1 of supplier & ANX-2 of recipient) and e-waybill
portal
PROPOSED E-INVOICING SYSTEM
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e-INVOICING | ACROSS THE GLOBE
Countries that have regulation in relation to e-invoicing
Argentina
Brazil
Chile
Italy
Kazakhstan
Russia
China
S.Korea
India
(Proposed)
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e-INVOICING IN INDIA | OVERVIEW
For B2B supplies – TO > INR 100 Cr
For B2C supplies – TO > 500 Cr
(Self-generated/ Dynamic QR Code)
TO = taxable+ exempt+ exports +
intra PAN supplies
RELEASES TILLDATE
Form GST INV-1
FAQ’s on e-InvoiceRollout
List of APIs andproposed integration
withIRP
NIC Sandbox made available for testing
e-Invoicing portal & offline tools
APPLICABLE TO
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PROPOSED e-INVOICING INFRASTRUCTURE IN INDIA
The current ERP or other
invoicing software used
for generation of
e-invoices
National Informatics Centre
(‘NIC’) provides infrastructure
and support delivery of
Government IT services
As per the proposed e- invoicing
process document -NIC toassist,
in undertaking invoice registration
and authentication process
Goods and Services Tax
Network (GSTN)
As per the proposed e- invoicing
process document – GSTN to assist
in duplication check and populate
transaction details of a return (GSTR
1 /ANX 1 &GSTR 2A /ANX2) from
thee-invoicing system payloads
E-way bill (NICPortal)
Electronic Way bill generated from
NIC portal to accompanythe goods
during transit
As per the proposed e- invoicing
document,the PART A detailsof the
e- way bill would be populated from
the e- invoicing system payloads
Taxpayers’
Enterprise Resource
Planning
(‘ERP’) system
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e-INVOICING IN INDIA | KEY ASPECTS
6
4
2
5
3
1
e-Invoice mandatory for?
Required for tax invoice, credit note, debit note, export
invoice, ISD invoice, ISD credit note, self invoice
Not required for delivery challan or bill of supply or bill
of entry
Response by IRP
Invoice Reference Number
Digitally signed QR code
Signed JSON with e-invoice information
Is signing of e-invoice
mandatory?
Before submitting to the IRP – JSON may or
may not be signed- optional placeholder
available for signature
E-Invoice issuance to buyer – Signing
requirement as per business flow?
Generation of IRN
FAQ’s suggest IRN would be generated by IRP only
NIC API suggests generation of IRN by business or IRP
Checks by IRP
De-duplication check
GSTIN existence of seller and buyer – Recent FAQ
APIs released suggest several additional validation
checks including PIN code validation against states,
validation with state code master, validate HSN code
with HSN master
Amendments / Cancellation of E-Invoice
Cancellation allowed in IRP within 24 hours;
Cancelled invoice number cannot be used for generation of
another invoice
Amendments to e-invoices to be done on the GST system only and
not on IRP
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WORKFLOW INVOLVED
Seller E-Invoice Registrar (s) GST System Buyer
Registrar 1
Registrar 2
Registrar n
Generates hash
Validates hash (if received through API
from seller system)
Does de-duplication check with GST
System
Sign it with digital signature
Add QR code to json
Sends authenticated payload to GST
System
Send to e-Way bill system
B2B
APIs
ERP/ Acct
Systems
Uploads
E-invoice
JSON to IRP
Receives JSON containing:
Digitally signed
invoice
Digitally signed QR
code (in digital
stream) that contains
basic invoice details
Seller can view the
invoice liability in his
ANX-1
Hash Stored in GST
invoice Registry
De-duplication
checked
GST System now has a
unique invoice with a
unique number
ANX-1 updated of Seller
ANX-2 updated of Buyer
GST
Can view :
Buyer receives registered
invoice from IRP
Use QR code to verify the
invoice
Buyer can view the ITC
related to this invoice in his
ANX 2
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MODES OF CREATION OF e-INVOICE
Web based API based Offline tool
based
GSP based
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MANDATORY FIELDS IN INVOICES
S.NO Name of the field List of Choices/ Specifications/Sample Inputs Condition
1 Invoice Type Max length: 10
Can be Reg /SEZP/
SEZWP/EXP/EXPWP/DEXP
2 Invoice Type Code Max length: 50
Will be auto-generated by GSTIN based on the invoice type
specified by the user
3 Supplier GSTIN Max length: 15 Must be alphanumeric
4 Invoice Number Max length: 16 Sample input is “ Sa/1/2019”
5 Preceding Invoice Reference Max length:16 Sample input is “ Sa/1/2019”
6 Invoice Date String (DD/MM/YYYY) as per the technical field specification
7 Reverse Charge ‘Y’ or ‘N’ as a single character ‘Y’ or ‘N’ as a single character
8 GSTIN Max length: 15 The GSTIN of the buyer to be declared here
9 State Code Max length: 2 The place of supply state code to be declared here
10 Place Max length: 50
The place (locality/district/state) of the buyer on whom the
invoice is raised/ billed to must be declared here if any
11 Unique Identification Number Abbreviated as ‘UUID’ Sample input is ‘649b01ft’
12 Shipping To GSTIN Max length: 15
13 Shipping To State Max length: 100
14 Supply Type Max length: 2 Sample values can be either of Supply/export/Job work
15 Transaction Mode Max length: 2
The schema specifies that the field can have either of
regular/bill to/ship to
16 Item Description Max length: 300 The sample value is ‘Mobile’
17 Quantity Decimal (13,2) Sample value is ‘10’
18 Rate Decimal (10,2) Sample value is ‘50’
19 GST Rate Decimal (3,2)
20 IGST Value, CGST Value and SGST Value Separately Decimal (11,2) Sample value is ‘650.00’
21 Total Invoice Value Decimal (11,2)
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BACKGROUND – NEW GST RETURNS
Decision was taken
in 27th GST council
meeting for
introduction of
new returns in
phased manner
New Returns are in
accordance with
Section 43A of
CGST Act, 2017
Single return is
required to be
submitted
containing
outward and
inward supplies
New return
prototypes are
made available in
GSTN
(Mandatory from
1.4.2020)
Original system of
invoice matching
will be mandatory
for filing new
returns
01
02
05
04
03
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TYPES OF NEW RETURNS
NORMAL SAHAJ SUGAM
ANX-1 (outward supplies) ANX-1 (outward supplies) ANX-1 (outward supplies)
ANX -2 (Inward supplies) ANX -2 (Inward supplies) ANX -2 (Inward supplies)
RET -1 (Monthly /quarterly return) RET -2 (Quarterly return) RET -3 (Quarterly return)
ANX -1A (Amendments to ANX -1) ANX -1A (Amendments to ANX -1) ANX -1A (Amendments to ANX -1)
RET 1A (Amendments to RET-1) RET 2A (Amendments to RET-1) RET 3A (Amendments to RET-1)
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CRITERIA FOR SELECTION OF RETURNS
OUTWARD INWARD
Type B2B B2C Exports B2B
Normal
Sahaj x X
Sugam X
Turnover ≥ 5 crores
Turnover < 5 crores
Normal
Normal, Sahaj, Sugam
Monthly
Normal – Monthly , Sugam /Sahaj Quarterly
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OTHER KEY ASPECTS RELATING TO RETURNS
PARTICULARS NORMAL SAHAJ SUGAM
Periodicity Monthly /quarterly Only quarterly Only quarterly
Switching between
returns
Can switch over to Sahaj or
Normal (quarterly return).
Allowed once in financial year
(at beginning)
Can switch over to Sugam or
Normal (quarterly return).
Allowed more than once in financial
year (at beginning of quarter)
Can switch over to Normal
(quarterly return).
Allowed more than once in financial
year (at beginning of quarter)
ITC relating to
invoices not
uploaded by
supplier
ITC allowed on self declaration Cannot be claimed Cannot be claimed
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RETURN WORKFLOW (EXISTING VS NEW)
P
R
O
P
O
S
E
D
OUTWARD SUPPLIES
GSTR -1
SUMMARY RETURN
GSTR -3B GSTR -6 (ISD), GSTR -7 (TDS), GSTR -8 (TCS) GSTR -9 /9C
20th of next month
11th of next month Various dates
ANNUAL RETURNS
31st December of subsequent year
P
R
E
S
E
N
T
ANX -1 ANX -2 RET
1 /2/3
RET -1A
ANX -1A
GSTR
9 /9C
OUTWARD SUPPLIES
10th of next month
INWARD SUPPLIES
17th of next month
(11th-17th – Reconcile
/Accept /Reject/ Pending etc.)
SUMMARY RETURN
20th of next month /
Quarter
AMENDMENTS
Filing of Annual
return or
6months from
end of FY
ANNUAL RETURNS
31st December of
subsequent year
Note : Other returns such as GSTR-6, GSTR -7, GSTR -8 will continue in new regime
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NEW GST RETURN FORMS
Compliance Workflow
Document (INV /DR /CR)
Recipient & Supplier’s actions before
10th of M+1
Lock /
Accept
No
Response
Response by
Recipient
Supplier can
Edit
Supplier cannot
Edit
Unlock /
Reset
Recipient & Supplier’s actions after 10th ofM+1
Response byRecipient
Supplier’s
liability willbe
recomputed
Return for Month (M)
Creditavailable
to Recipient
01 31 10 11 17
*Upload is meant here for missing invoices only
Accept /Pending
/Upload*
No Response
Reject
Credit Reversal withInterest
implication
Unlock of Invoices byRecipient
Accepted
Pending Submit Response (Accept/
Reject /Pending)
Credit availableto
Recipient if
Accepted /
Uploaded
Deemed
Acceptance on
filing RET-1
Supplier cannot
Edit
Supplier can
Amend onlyin
subsequent
Return
Supplier cannot
Amend
Supplier’s liability
willbe recomputed
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HIGHLIGHTS OF NEW RETURNS
Simplified single return (with
stage wise submission)
Separate form for
amendment of return
(RET -1A /ANX-1A)
Negative figures can be
entered in the new returns
(not allowed in existing
system)
Option for uploading invoices
on real time basis by supplier.
Also recipient can review and
lock the invoice on real time
basis
Recipient shall accept / reject /
keep the invoices pending in
order to claim ITC
Invoice will be deemed to be
locked / Accepted where no
response provided by the
recipient
Invoices missed in previous tax
period can be uploaded in
subsequent tax periods. Liability will
be clubbed in subsequent tax
period. invoices will be clubbed in
respective tax periods.
No automatic reversal of input tax
credit on missing invoices
(uploaded by taxpayer)
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02
03
04
05
06
07
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PREPARING FOR NEW GST RETURNS
KEY TAKEAWAYS
Outward : Track unaccounted liability
or mismatches of GSTR 1 with GSTR 3B
Inward : Track unavailed credits
Illustrative list of additional attributes which may
need to be captured like Document Type; HSN
(minimum 6 digit level); No Supplies / Schedule III;
ineligible / partial credit; etc.
Robust technology platform to
enable Customers and Vendors
► near-real time upload of invoices
► viewing the invoices
► locking /unlocking of the invoices
Transition to New Return
ERP Changes
Technology Platform
Matching Stage - Receipt of Supply
or Accounting or Payment
Team Augmentation – Help Desk Accounting process to
be enhanced for enabling
Process for handling invoice rejections, damages,
shortages etc. both for Customers and Suppliers
with automated messaging
Terms to be revisited to ensure
► no deferment of credit
► no loss of credit
Business Process
Compliance Process
Contracting Terms
► rejections
► Re-claim, etc.
► ineligible credits
► missing invoices
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About our technological partner
We are an enterprise business consulting and product development company focusing on business process re-engineering, with
expertise in technology-driven transformation of enterprises. We integrate the best-in-class solutions with industry-specific
functionality, offering the power to plan and execute strategies faster and more profitably
Business growth through analytics, business process re-engineering and
transformation with latest cutting-edge technologies and solutions
Headquartered in USA
Unique blend of niche expertise & competency
Driven by values and passion for excellence to meet customer
expectations
ISO 27001:2013, ISO 9001:2015 Certified and CMMI Level 2 Appraised
Operations
in
USA(HQ) India Japan Kenya
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Scenario – 1 : Seamless Integration Using API’s
ERP SYSTEM can be SAP, Oracle, BAAN, INFOR or
Microsoft , tally, etc.
From the ERP’s the data is extracted using APIs in
the real time and will be transferred to XaTTaX e
Invoice
In the XaTTaX Portal, the data is processed, and
will Generate e Invoice Hash ie IRN
Generated IRN will be sent back to ERP system.
Description:
3. XaTTaX Portal 1. ERP System
2. Real Time Data Sync Using API
4. IRN Update to ERP System
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Scenario -2: ERP To Shared Location To XaTTaX Application
(Integration with Shared Folder)
ERP SYSTEM can be SAP, Oracle, BAAN, INFOR or
Microsoft , tally etc.
From the ERP’s the data is generated in the form of Excel,
CSV or JSON report.
The generated report will be stored in a common shared
location, which can be accessed by both servers.
The stored report will be transferred to XaTTaX e Invoice
by the scheduler as per the scheduled time.
In the XaTTaX e Invoice , the report is processed, and will
generate E Invoice Hash ie IRN .
The file should be placed in the shared folder in the
required format by CLIENT.
Generated IRN will be sent back to ERP system by using
Excel, CSV or JSON format.
Description: XaTTaX E Invoice ERP System
Shared Location
1.
3.
5.
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INTEGRATED XaTTaX GST COMPLIANCE SOLUTIONS
Data
validation
Fetch GSTR 1/
ANX 1
Compliance
monitoring
File and
Achieve
Taxpayer
e-Invoicing
e-Way Bill
GST returns
XaTTaX secured
cloud-based platform
Data
validation
E-invoicepayload
generation
E-invoice
registration/
cancellation
validatedIRN, e-signedinvoiceand QR code
Eway bill management system
(XaTTaX)
Fetch Part A & Data Assist in
update part B validation GenerationofEWB
Govt. Portal
IRP
validates IRN/ generates
e-signed invoice and QR code
E-wayBill
NICPortal
GenerateE-way
bill
XaTTaX
GSTN
Réconciliation – GSTR1 vs
EWB / GSTR 2A / ANX 2 vs PR
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XaTTaX & ERP
SBC is an efficient GST Advisory firm with
proven “Managed Tax Compliance Service”
that provides deep insight to deliver
differentiated ASP-GSP offerings
XaTTaX – GST Compliance Market Leader
(100+ Clients filed 70000+ GSTR 1 till Sep,
2019 tax period)
GST Compliance Solution integrated within
ERP with Reverse integration
ERP - One the world's largest enterprise
application software with 10000+ Clients
Solution will be hosted and developed on ERP
Cloud for a robust, unified and seamless business
application experience
Solution will have a ERP Extension to improve the
operational efficiency of ERP users
Partnership | Synergies | Benefits forClients
ERP
SBC - Xattax
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COMPETITIVE ADVANTAGES
Single Sign on for
multiple GSTINs
In-house ERP team
E Mails, Alerts & MIS
Reports
High Availability & No
Downtime
Flexible Workflow with SODs
Cancellation of E invoice
High Data Security Printing of e Invoice with QR
Code
18/7 Customer Support
Login less and Real time
generation of IRN
User friendly Dashboards
& Multiple Reports
Touch less Generation of
IRN
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Contact us
HYDERABAD DELHI
C- 699A, 1st Floor, Sector-7, Palam
Extn., Dwarka, New Delhi, Delhi
110075
CHENNAI
Old no 19, New no 13B, New
Bangaru colony first Street, KK
Nagar West, Chennai 600078
BANGALORE
90/1, 3rd Floor, Pasha South
Square, Rathavilas Road,
Basavangudi, Bangalore -
560004
MUMBAI
Flat no.3, Plot no.226/227, Sion
East, Mumbai - 400022
Vizag: Level 3, Kupilli Arcade, Akkayyapalem, Visakhapatnam
530016, Andhra Pradesh
Vijayawada: # 56-11-3, Sri Devi Complex, Y.V.R Street, MG Road, Patamata, Vijayawada, Andhra
Pradesh
Tirupati: H. No: 6-154/1, Syamala Nilayam, Near Water Tank, Akkarampalli, Tirupathi, Andhra
Pradesh Kurnool: #21, Top Floor, Skandanshi Vyapaar, New Bus Stand Road, Kurnool 518 003,
Andhra Pradesh
UAE Address: 2103, Bayswater Tower, Business Bay, Dubai,
UAE
USA Address: SBC LLC, 8 The Green, Suite A in the City
of Dover, Delaware - 19901
Suite 5, Level 3, Reliance Cyber
Ville,, Madhapur, Hitech City,
Hyderabad – 500081
30. 31
Thank You
ww w.steadfastconsultan ts.in
SBC refers to one or more of Steadfast Business Consulting LLP (LLPIN: AAL-1503), a Hyderabad based Limited Liability Partnership, and its network of member firms, branches and affiliates. SBC provides tax, consulting, audit and financial advisory
services to clients within and beyond borders spanning multiple industries. With local connect and expertise put together with global outlook and capabilities, SBC believes in providing holistic solutions to clients tailored to meet business objectives and
address most complex challenges and at the same time be robust, scalable and sustainable from a tax, legal and regulatory standpoint.