What is B2CL in GST?

What is BTL, B2B, B2C, and B2G?

BTL stands for Below The Line, B2B for Business to Business, B2C for Business to Consumer, and B2G for Business to Government.

How to amend B2CL to B2B?

How to Amend B2C to B2B in GSTR-1

1. Step 1: Access the GST Portal. First, you need to access the official GST portal (gst.gov.in). ...
2. Step 2: Navigate to GSTR-1 Form. ...
3. Step 3: Select the Amendment Section. ...
4. Step 4: Amend B2C to B2B Transaction. ...
5. Step 5: Review and Submit.

Is an e-invoice mandatory for B2CL?

Yes, e-Invoicing is applicable for B2C transactions on a voluntary basis in select sectors as per the 54th GST Council meeting from a date yet to be notified. Is e-Invoicing mandatory for B2C transactions in India? No, e-Invoicing is not mandatory for B2C transactions in India as of now (11th September 2024).

What is the 5 crore limit for GST?

Notification No. 10/2023, issued on May 10, 2023, amends the earlier Notification No. 13/2020–Central Tax from March 21, 2020. The GST e-invoice requirement now applies to businesses with a turnover exceeding ₹5 crore in any financial year since 2017-18, starting from August 1, 2023.

What is the meaning of B2C supplies?

Business to consumer (B2C) is a commerce model where businesses sell products and services directly to consumers, often online. Learn about B2C in this post. by Shopify Staff. Updated on 13 Dec 2024.

What does B2C stand for?

B2C stands for business-to-consumer and pertain to transactions that take place between a business and an individual as the end customer.

Is HSN mandatory for B2C supplies?

4. What is the limit of HSN reporting? The limit for turnover of ₹ 5 crore states that a 6-digit HSN is compulsory for all outward supplies. Following this, if the Turnover is less than ₹ 5 crore, then a 4-digit HSN is required for B2B and optional for B2C.

What is eway bill for B2C sales?

When is E-way Bill Required for B2C? E-way Bills are required for B2C transactions when the value of goods being transported exceeds Rs 50,000, and the goods move either inter-state or intra-state under specific conditions set by the respective state's GST regulations.

How to change B2CL limit in tally prime?

1. Press F11 and set Enable Goods and Services (GST) to Yes.
2. Enable Set/Alter Company GST Rate and Other Details. ...
3. Press Ctrl+I (More Details).
4. Click Show More > Threshold Limit for B2CL Invoices.
5. Enter the Applicable From date along with the Threshold Limit.
6. Press Ctrl+A to save the changes.

What is the GST invoice limit?

As per the latest amendment in August 2023, all the businesses registered under the GST Act, with a total turnover exceeding Rs. 5 crores, are required to generate an e-invoice. Earlier, this threshold was Rs. 10 crores.

Is Zomato B2B or B2C?

Marketplaces like Swiggy and Zomato remain strong for B2C audiences because they bring convenience and menu variety. On the other hand, B2B delivery services have grown because restaurants want better margin control and direct customer communication.

How much turnover is allowed without GST?

Businesses with an annual turnover of less than ₹40 lakhs in most states (and ₹20 lakhs in special-category states) can sell products without GST. Furthermore, certain services, such as those associated with religious events, sports organisations, tour guides, and libraries, are excluded from GST registration.

Can e-invoices be tracked?

Better visibility: E-invoicing platforms have real-time tracking and monitoring features. Businesses can easily see the status of each invoice, from creation to payment, providing greater visibility and control over the entire process.

Is GSTR 9 mandatory for all?

Yes, every GST-registered taxpayer having annual turnover of more than Rs.2 Crore must file GSTR-9 annually. Who is required to file GSTR 9? Yes, every GST-registered taxpayer whose annual turnover is more than Rs.2 crore must file GSTR-9 annually. It is optional for the rest of the taxpayers.

Can we generate an e-invoice below 5 crore?

As of now, any business with an aggregate turnover of ₹5 crore or more in any financial year since FY 2017-18 must generate e-invoices. It is called the e-invoice applicability limit. So if your business crossed ₹5 crore in turnover even once in the past few years, e-invoicing is mandatory for you now.

What happens if I don't generate an e-invoice?

What will happen if I do not produce an e-Invoice? The invoice is invalid under GST, and you can be fined ₹10,000 per invoice or 100% of the tax payable, whichever is greater.

How to amend a B2C large invoice?

TABLE 9A – AMENDED B2C (LARGE) INVOICES

1. Taxpayer shall provide financial year and invoice number and click on Amend Record to search the invoice.
2. Original note values shall be auto-filled based on the details uploaded earlier.

What is the limit of cash sale in B2B?

1. Section 269ST: ₹2 Lakh Cash Receipt Limit. Under Section 269ST, any person or business cannot receive ₹2 lakh or more in cash from a single person in a single day or a single transaction. ✔ Example: If a business sells goods worth ₹2,50,000, the buyer must pay via cheque, bank transfer, UPI, or credit card.

How many times can B2C be amended?

Please note - Complete details of B2C (Others) can be amended only once.

Why do you want to switch from B2C to B2B?

Switching from a B2C to a B2B model can be advantageous for small or midsize businesses (SMBs) for several reasons, including a more stable cash flow, reduced production, marketing, delivery, and customer service costs due to economies of scale, and larger transaction volumes.