How to differentiate B2C with E-FPB?
What is B2C? How does E-FPB work under GST regime? What are the difference between B2C and E-FPB?
Under GST system, the following information explains about B2C and E-FPB.
As per GST terms, B2C means: The terms B2C and B2B are used very frequently these days, these are stand for ‘Business to Consumers’ and ‘Business to Business’, these two are totally different kind of transactions because the intention of transaction are altogether different.
E-FPB stands for Electronic Focal Point Branch. These are branches of authorized banks which are authorized to collect payment of GST. Each authorized bank will nominate only one branch as its E-FPB for pan India transactions. The E-FPB will have to open accounts under each major head for all governments. Total 38 accounts (one each for CGST, IGST and one each for SGST for each State / UT Government) will have to be opened.
The details about B2C and E-FPB with simple language from GST terms have been mentioned in this web blog separately. I suggest you to read these articles on B2C and E-FPB, so as to enable you to have a clear idea on these GST terms.
For your immediate reference, we give below web links on B2C and E-FPB separately below. You may kindly read the below links to know more about E-FPB and B2C.
Inter State B2C Supply Means
Meaning of E-FPB under GST
The above information easily explains about E-FPB and B2C.
We hope, you have satisfied with the difference between B2C and E-FPB explained above. Do you have different thought on difference between E-FPB and B2C?
Share below your thoughts about B2C and E-FPB
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CGST Act Section 33 Amount of tax to be indicated in tax invoice and other documents.
CGST Act Section 34 Credit and debit notes
CGST Act Section 35 Accounts and other records
CGST Act section 36 Period of retention of accounts
CGST Act Section 37 Furnishing details of outward supplies
CGST Act section 38 Furnishing details of inward supplies
CGST Act Section 39 Furnishing of returns
CGST Act section 40 First return
CGST Act section 41 Claim of input tax credit and provisional acceptance thereof
CGST Act Section 42 Matching, reversal and reclaim of input tax credit
CGST Act section 43 Matching, reversal and reclaim of reduction in output tax liability
CGST Act section 44 Annual return
CGST Act section 45 Final return
CGST Act section 46 Notice to return defaulters
CGST Act Section 47 Levy of late fee
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