Automating Inbound Electronic Invoicing

In E Invoicing by Anandkumar S Nair

E-invoicing got off to a great start in India on 01 Oct 2020. The threshold limit for submitting electronic invoices was progressively lowered from the initial Rs 500 crores to Rs 100 crores turnover since 01 Jan 2021. It is expected that by 01 Apr 2021, B2B transactions for all companies will need to be through electronic invoices. One area ...
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Recent press releases and CBIC Notifications

In E Invoicing by Manoj P

30 day grace period for those who are not yet ready for GST e-invoice : CBIC As a last chance, in the initial phase of implementation of e-invoice, it has been decided that the invoices issued by such taxpayers during October 2020 without following the manner prescribed under rule 48(4), shall be deemed to be valid and the penalty leviable ...
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E-invoicing Process

In E Invoicing by Manoj P

E-invoicing is a new reform which entails the generation of invoices in an electronic format, which facilitates machine readability across ERP and tax systems.

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E-invoice – best practices

In E Invoicing by Manoj P

In case of supply of services, Rule 47 of CGST Rules 2017, Part A – Chapter VI is self-explanatory. In case of goods, however, there is a physical goods movement where the tax officials can do a scrutiny of the document / supply. With the revised Rule 48 (Manner of issuing invoice), the supply would be deemed to be invalid if e-invoicing is applicable but not yet done.

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QR Code for B2C Invoices: “Digital Display” for Customers?

In E Invoicing by Anandkumar S Nair

IntroductionAs is well known, electronic invoices (e-Invoices) have been made mandatory by the Government of India with effect from 01 Oct 2020 for all B2B transactions by business entities with a turnover greater than Rs 100 Crore. What this means is that all invoices, generated by companies using their existing ERP/ Accounting System will need to be converted into a ...
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Document automation & integration ( In bound invoices, BOE,L/C, etc) and integration with SAP (Part 2)

In E Invoicing by Rajesh P

Document automation & integration process on Letter of CreditLetter of Credit (LC) is a document issued by Bank. We have Import LC (Requested by Home bank) and Export LC( Requested by Exporters bank). Ideck is capable of handling both Import LC and export LC. This module is tightly integrated with our EXIM module. When a new LC document receives from ...
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AIM(Accelerated Implementation Methodology) for E-Invoicing

In E Invoicing by Gireesh G

AIM, or Accelerated Implementation Methodology is a framework for addressing organizational changes that will transform how your business operates. It takes the change process from planning all the way through installation, Implementation, training and an eventual Return on Investment. Its main objective is to remove any barriers between the planning phase and a successful implementation, which can include things like ...
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E-Invoicing The early-bird advantage

In E Invoicing by Manoj P

Unlike the introduction of GST & GST Returns in 2017, or E-Way Bill in 2018, E-invoice promises to be a different ball-game to individual businesses. In simple terms, non-compliance to E-invoice could impact a crucial aspect of business – timely delivery. Would you want to be an early-bird catching the opportunity or prefer to complain about the challenges and hope ...
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Changes on Export Invoices due to E-Invoicing

In E Invoicing by Vivek C V

IntroductionThe Invoicing system in GST is defined for major overhaul in the coming financial year. This includes E-invoicing, Quick-Response Code and facility of digital payments to recipients. E-Invoicing or electronic invoicing is a process of validating invoices electronically through GST Network (GSTN) for further use on common GST portal. This is also has a direct implication on Availment of ITC, ...
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