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 ...
View Post

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, ...
View Post

Total Taxation Solution integration – GST, E Way Bill, e-invoice(Part-3)

In E Invoicing by Manoj P

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.

View Post

Total Taxation Solution integration – GST- E Way Bill-E-invoice (Part-2)

In E Invoicing by Manoj P

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.

View Post

Total Taxation Solution integration – GST- E Way Bill-E-invoice

In E Invoicing by Manoj P

What is happening in India under Indirect Taxation? We have been hearing that e-invoicing is being rolled out…It was a cold day in December, just a month ago. If I call it a cold day in India, it must have been a chilling day in Germany. Yet, there was the familiar warmth and cheerfulness in the voice that I heard ...
View Post

Invoicing in India – From Paper to Electronics

In E Invoicing by Anandkumar S Nair

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.

View Post

Automation of Inbound E-Invoicing

In E Invoicing by Rajesh P

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.

View Post

Government Notifications and Guidelines of E-Invoicing (Part 3)

In E Invoicing by Abhilash AR

How to Start E Invoice Processing?GSTN has published the sandbox API which is made available for the purpose of testing. Below are the lists of APIs published by GSTN Authentication Generate IRN Cancel IRN Get e-Invoice by IRN Get GSTIN details Health Check API The Authentication API is used for getting authenticated with the IRP portal for using any of ...
View Post

Government Notifications and Guidelines of E-Invoicing (Part 2)

In E Invoicing by Abhilash AR

Steps in e-Invoice generationThe seller generates Invoice in ERP/Accounting software This data needs to be converted to a JSON format and uploaded to the IRP portal The IRP receives this information and crosscheck whether the invoice is already registered or not. A unique number called IRN (Invoice Reference Number) will be generated if not registered already. Rejects the data if ...
View Post