We believe in empowering the business users in such a way that they can do e-invoice generation without worrying at all about the technical details (data validation, transformation, schema validation, JSON conversion, authentications, encryption, API calls etc.).
Since there is a need for GST Returns / reconciliation solution even beyond the e-invoice rollout, integration of applications would be even more important.
Are there any outward supplies done without e-invoice? If the supply comes under the revised provisions of Rule 48 (Manner of issuing invoice) under the CGST Rules, Part A (Chapter VI), such an invoice is invalid. From an audit perspective, reports linking all relevant invoices with a valid e-invoice would be important.
Voluntary e-invoicing : There are taxpayers for whom e-invoicing is voluntary as of April 2020 (based on annual turnover thresholds). We could therefore still have vendor invoices without any e-invoicesto auto-populate the GSTN data. In other words, vendor GST reconciliation would still be relevant for organizations having such vendors in the Accounts Payable cycle.
Electronic invoicing (e-Invoicing) is the exchange of the invoice document between a supplier and a buyer in an integrated electronic format. Traditionally, invoicing, being a paper-based process, involved manual effort and is error prone. This means increased costs and processing/ payment lifecycles for companies.
Invoice processing holds a significant overhead for most businesses. Different business sectors have different way of approaching for invoicing their clients. If the invoice is late, wrongly interpreted or lack of necessary information may lead to transactional error or delay in payment. If the invoice is not precise, itemising product sales or hours of work undertaken, your invoice may be challenged by the client.
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