GST E-Invoicing, Atal Pension Yojana Regulations For Taxpayers: Important Tax Regulations To Change From October Tax

GST E-Invoicing, Atal Pension Yojana Regulations For Taxpayers: Important Tax Regulations To Change From October Tax

Updated on 15 Sep, 2022: This includes tax regulations. Broadly speaking, there are two changes in him that taxpayers will see from October.

The two tax rules that will change from October 1, 2022 are: Changes to GST e-invoicing rules From 1st October, electronic invoicing will be mandatory for businesses with a gross turnover of INR 100 crore or more under the Goods and Services Tax or GST scheme.

The government has lowered the limit from his current Rs 2 billion to address lost revenue and ensure better tax compliance by businesses.

Important Tax Regulations to Change from October Tax changes coming next month: September is already halfway through and the end of September marks the end of the second quarter of the fiscal year.

A new fiscal quarter begins in early October, Q3. This means that some rules will change from October of this year.

This includes tax regulations. Broadly speaking, there are two changes in him that taxpayers will see from October.

The two tax rules that will change from October 1, 2022 are: Changes to GST e-invoicing rules From 1st October, electronic invoicing will be mandatory for businesses with a gross turnover of INR 100 crore or more under the Goods and Services Tax or GST scheme.

The government has lowered the limit from his current Rs 2 billion to address lost revenue and ensure better tax compliance by businesses.

With a notification date of Monday, August 1, the rules said he was notified based on the GST Council’s recommendations.

Experts say the move is a move to ensure better tax compliance and make it mandatory for all his GST taxpayers.

Amendments to Atal Pension Yojana Rules for Income Tax Payers As of October 1, citizens who are or have been taxpayers of income tax are not eligible to participate in the Atal Pension Scheme.

According to a Ministry of Finance notice, if an income tax paying investor participates in her APY scheme after his October 1st, the APY account must be closed.

According to a notice from the Treasury Department’s Office of Financial Services, individuals who were or are part of the income tax system are not eligible to participate in the APY system.

“From 1 October 2022, citizens who are or have been taxpayers of income tax will no longer be eligible to participate in the APY,” the ministry said in a statement dated 10 August 2022.

“If a participant joining on or after October 1, 2022 is found to be an income taxpayer by the date of application, the APY account will be closed and the pension fund accumulated so far will be paid to the pension fund. Subscriber” appears in the notification. Currently, any Indian citizen who is not a minor can join her APY program.

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