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E-Invoicing under GST is that the process of validating the B2B, export Invoices online, on a unified portal & giving a novel IRN & QR code to the said authenticated Invoice.
The implementation of the E-Invoicing System was extended within the 39th GST Council Meeting, to 1st October 2020.
E-Invoices are generated when B2B and export invoices are validated on the IRP & are sanctioned with a singular IRN & QR Code.
E-Invoices are mandatory for all the companies having an annual aggregate turnover of Rs. 5 Crore & more. Additionally, all Businesses with a turnover of Rs. 5 Crore must generate QR Codes for his or her B2C Invoices.
No, the Taxpayer must generate their Invoices normally in their ERP or Billing Systems. These invoices further must be authenticated by uploading them on a unified Government Portal- the IRP.
A unified GST Portal has been provided by the Government of India, known as the Invoice Registration Portal or the IRP for authentication of Invoices.
E-Invoicing is actually a government initiative to curb the evasion of taxes through fake Invoices & E-Way Bills. But as an extra benefit, e-Invoice also makes the GSTR Filing process and E-way bill generation simple & online.
Apart from the B2B invoices, other filings in respect of credit notes, debit notes, export invoices & B2B reverse charge invoices are also required to be reported to the IRP & IRP shall generate IRNs for these documents additionally.
The IRP- Invoice Registration Portal is that the unified portal for Invoice registration. The IRN- Invoice Registration Number- The unique 64 recommendation number given to every Invoice post-authentication. The QR code- Quick reference code, it’s the essential details of the Invoice.
All eligible Businesses tend to urge QR codes mandatorily on E-Invoicing of their B2B Invoices, and Businesses with an annual turnover of Rs. 500 Crores also get QR codes for his or her B2C Invoices.
All eligible Businesses having an annual turnover of INR 1 Crore are also required to include QR codes on their B2C invoices, and other eligible businesses are recommended to do so.
Initially, the user shall use their e-Way Bill Credentials for logging in to the IRP. If the user doesn’t have their e-Way Bill credentials, they’ll register on to the IRP by entering their GSTIN, post which the user will receive an OTP to their registered number. The user can then create a username & password.
Invoices are rejected just in case they need incorrect values or if any mandatory fields are missing within the e-Invoice. AN invoice shall be even be rejected if the invoice number is repeated i.e., duplicate invoice number is found in e-Invoice payload. The user is advised to recheck all the required and mandatory fields & recheck the entered values & submit the Invoice to the IRP again.
The GSTN has considered the chance of the buffer & hence has created 10 IRPs for users to avoid the over trafficking & lagging of internet sites.
The Part-1 of the e-Way Bill will be auto-populated with the help of the Invoice data generated on the IRP. The user, however, would should fill the Part-2 of the e-Way Bill manually.
No, the taxpayer must file their own GST returns as before, but after the implementation of e-Invoices, the information for filing the Returns shall be auto-populated within the variety of Annexure-1.
The SCHEMA could be a format of e-Invoices specified by the GSTN. All the e-Invoices shall be generated within the given format, the mandatory & non-mandatory fields are decided by the GSTN. The details of the e-Invoices shall be filled in the mandatory fields to avoid the rejection of e-Invoices. However, the non-mandatory fields are for the users to settle on from & are optional.
First, the user is required to log-in to the IRP, & then search for the ‘Print’ option, as provided on the left side of the dashboard. The user then has to enter the IRN of the e-Invoice they want to print, then click on ‘Go’.
It can be made out that the User is either already in receipt of the Credentials for IRP, or is already registered on the e-Way Bill Portal. just in case the user has forgotten the password or User ID, the identical are often reset from the house page, using their GSTIN & OTP.
IRN may be a unique number to spot the e-Invoice hence, no two invoices can have the identical IRN.
Reverse Charge Mechanism states that under certain cases of categorized goods the liabilities fall over the customer rather than the Supplier.
Q.: For how long shall the e-Invoice be available on the IRP?
Post-generation, the e-Invoices are available on the IRP for twenty-four hours only.
The Businesses must be registered to the GST Portal & the e-Invoice or e-Way Bill Portal so as to come up with the IRN for his or her Invoices.
Yes, the discounting feature is obtainable on the IRP, for item-level in addition as on Invoice value.
E-Invoice once generated cannot be modified. The user must cancel the e-Invoice & create a fresh e-Invoice with the proper input, within 24 hours of generation.
The bulk generation facility is provided by the IRP. The user has to log in to the IRP & click on ‘Bulk Upload’ under the pinnacle ‘e-Invoice’. Create a JSON go in the format given by the IRP & enter the mandatory details of the Invoices, then click on ‘upload’. As an output, the IRP gives the list of e-Invoices or errors if any.
The IRP are often integrated with ERPs through GSPs & APIs, like RJA. Post-integration the user will be eligible to perform all the available e-Invoice operations using their ERPs.
E-Invoicing makes Reconciliation, automated, transparent & thorough. The Taxpayers are in no way, be able to hide any transactions, once the e-Invoices were implemented. All Invoices shall be reported to the IRP & the identical data shall be wont to File the GST Returns. this could eliminate the possibilities of missing or wrong reporting of invoices.
e-Invoices are visiting play a significant role within the context of GST Compliance. Basically, E-Invoicing will make Compliance simpler & better for Businesses, since the information for GSTR filing moreover as e-Way Bills shall be auto-populated, reducing work for Businesses. e-Invoices will in some way, make the process of claiming ITC much simpler & more accurate.
E-Invoicing is that the real-time uploading of all the Invoices of all Business Transactions. Meaning no fake, wrong or hidden Invoices, this shall make sure that only accurate & genuine ITC is being claimed by a taxpayer.
The e-Invoice usually gets rejected because of a blunder within the SCHEMA format. Check if you’ve got filled all the mandatory fields within the correct format & try re-uploading the invoice.
No, you’ve got to cancel that e-Invoice & recreate one for the later date.
Yes, all export invoices must be reported to the IRP.
The E-Invoicing data shall be available on the IRP for twenty-four hours from the time of generation.
No, there are some ways to report your e-Invoices on the IRP, a number of them are-
No, there’s just one format SCHEMA for all Invoices within the new E-Invoicing system all the invoices shall be generated within the same format.
Yes, the format will appear as if this- FORMAT
Yes, the IRP will automatically authenticate the Invoice with the help of validation of the GSTIN of the Recipient.
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