GST Invoice Format in India

GST (Goods & Service Tax) is a landmark indirect tax scheme in India and is going live from July 1st, 2017. As part of GST, all previous indirect taxes like service tax and vats are now being replaced with GST. Thus all new invoices that are created from July 1st 2017 need to be based on latest GST rules.

Lot of businesses as well as finance professionals are currently struggling to find the gst invoice format. Please note that under GST, there are two type of invoice. First is GST Tax Invoice and second is called Bill of Supply. Bill of supply is used where the seller is not allowed to charge GST tax (this can happen if the items are exempt from tax under GST or the seller is using GST composition scheme). In all other cases, GST tax invoice is raised.

This article explains the details for invoicing under GST and how to include CGST, SGST, and IGST in the invoice. more

EPF UAN Login and Activation - 3 Step Guide for EPFO Members

Employee Provident fund (EPF) is India's main social security scheme managed by EPFO and covering more than 15 crores of workers in organized sector. All EPF members and their employers need to access the EPFO online servies for different tasks. The first step towards accessing the EPF online services is the ability to login into your EPFO UAN account (for which there is a ... more

GST Tax Rates for Services - Item wise list

GST Council of India has decided the gst rates for different services on May 19th 2017. Here goes the complete item wise list of services with their corresponding gst tax rates. If you are paying service tax currently, you will need to switch over to following GST rates starting July 1st, 2017. more

EPF AADHAAR: linking / seeding /authenticate errors for EPF transfer, withdrawal and pension

Lately it has become compulsory to link/seed your Aadhaar number to your EPF account (UAN) to ensure smooth service. A successfully linked Aadhaar number is useful for two cases:

  1. EPF Pension: Must for getting the pension after April 2017
  2. Simplified Online claim for epf transfer and epf withdrawal: If your EPF account is seeded successfully with Aadhaar number, then you can submit your epf... more

(EPF) UAN Portal Aadhaar update - Error while AADHAAR authentication.null

Lately Employee Provident Fund Organization(EPFO) has mandated the linking of Aadhaar number for every EPF member who is also utilizing Employee Pension Scheme (EPS).

As per EPF rules, typically a employer contributes 12% of basic towards EPF. Out of the above 12%, 8.33% goes in Employee Pension Scheme subject to a maximum of Rs 1250. Thus mostly every member of EPF is also... more

EPF Balance UAN - 6 Easy ways to Enquire / Check EPF Balance Online

EPF is a primary savings tool for large number of people working in private organized sector in India. EPF accounts and EPF balance is managed by Indian Government agency called 'Employees Provident Fund Organisation (EPFO)'.

Traditionally it has been very difficult to check EPF balance because of lots of paper work and time involved. It was also difficult to ... more

EPF / PF to NPS Transfer

On March 6th 2017, PFRDA (Pension Fund Regulatory and Development Authority) in india has issued detailed instructions about transferring money from EPF to NPS.

EPF is india's primary social security scheme for private sector and at this moment has more than 6 crore members. Though EPF primarily invests in debt - thus giving interest in the order of 7 to 10%. NPS (National Pension Scheme) is ... more

Pay Income Tax Online - 3 Steps to Pay Due Tax in India

Over last 5-10 years in India, Income Tax payment and return filing has become easier and can be done online without much hassle. If your income tax is due (i.e., you need to pay income tax to government), you don't need to go to a bank or fill challan form. Instead you can pay income tax online in 3 easy steps. more

BharatQR Code Payments Charges and Fee (Can it beat Paytm?)

Many of you would have already heard about the next digital payment initiative by Indian Government called BharatQR codes. BharatQR code is an QR scheme similar to PayTM QR codes which a merchant can print and put it on his/her shop and customers can pay by scanning the QR code using his/her mobile easily.

In India, QR code based payments have already proved successful due to excessive marketing of PayTM. BharatQR codes seems to be building on top of that and has a good chance for taking over the pole position from PayTM.
BharatQR supports quick and easy digital payment using Visa, Mastercard, Rupay Card and American Express. That basically includes every debit and credit card in India and hence is not tied to a specific bank or organization. Moreover due to government push, every bank mobile app will soon have an option to pay using BharatQR.

But as everybody knows, India is a price sensitive country and real success of BharatQR will depend not just on technology or its reach, but also on the charges and fee charged for BharatQR code based payments. And will they be competitive of Paytm or not? more

EPF Composite Claim Form (CCF form) Aadhaar and Non-Aadhaar for Withdrawal claim

EPFO (Employee Provident Fund Organization) has been working on simplifying the process of withdrawal from EPF (Employee Provident Fund) and EPS (Employee Pension Scheme). Earlier it has issued a new version of Form 19 & Form 10C for withdrawal and new version of Form 31 for Advance from member EPF account. But this process is now simplified even further with the introduction of new single page CCF forms.

CCF full form is Composite Claim Form and it is new simplified single page form for PF fund withdrawal or advance from EPF account. CCF Form comes under active circulation from Feb 20, 2017. more