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e-Invoice is a mechanism through which NIC authenticates B2B and
export invoices electronically before allowing them to be used on
the common GST portal. The Invoice Registration Portal (IRP), which
is operated by the NIC, will provide a unique identifying number
(IRN) against each invoice under the electronic invoicing system.
All invoice information is sent in real-time from
einvoice1.gst.gov.in to the GST and e-way bill portals. As a result,
there is no need for manual data entry while filing GSTR-1 returns
or generating Part-A of e-way bills because the information is sent
straight from the IRP to the GST portal.
Note: Timeline for syncing data between IRP to GST
is T+2 days
Businesses can profit from e-invoicing software in the following
ways:
Here are the 6 simple steps using which a taxpayer can generate GST
compliant e-invoices or electronic invoices.
Step 1: Create an invoice using an ERP system or
accounting/billing software.
Step 2: Using a typical hash-generation process,
IRP will generate IRN.
Step 3: Either directly or through third-party
software, upload invoices to the Invoice Registration Portal.
Step 4: After successful verification, you will be
prompted to sign and a QR code string will be created.
Step 5: The E-way bill and GST systems will receive
the uploaded data.
Step 6: The seller will get the digitally signed
JSON, as well as the IRN and QR code, via the site.
All businesses with an aggregated turnover of more than INR 500 crore
in any of the previous financial years from 2017-18 to 2019-20 must
use e-invoicing from October 1, 2020. E-invoicing becomes mandatory
for businesses with a turnover of more than INR 100 crore in any of
the financial years 2017-18 to 2019-20 from January 1, 2021.
From October 1, 2021, it was also extended to businesses with a
total turnover of more than INR 50 crore.
With effect from October 1, 2022, the government has expanded the
application of e-invoicing to businesses with a turnover of more
than Rs 10 crore.
However, according to CBIC Notification No.13/2020 – Central Tax,
e-invoicing does not apply to the following kinds of registered
persons, regardless of turnover:
As mentioned earlier, e-invoicing is mandatory for taxpayers with over INR 10 Crores turnover from October 1, 2022. But the question is are you geared up for e-invoicing or electronic invoicing?
To create e-invoices, you'll need an API that will integrate with
your ERP or a standalone e-invoicing software that allows you to
send real-time data to the IRP for each e-invoice you create. You
must also be well-prepared to assure compliance since CBIC has
issued a fresh notification.
As per the recent mandate, e-invoicing or electronic invoicing will
apply to all those taxpayers whose aggregate turnover is INR 20+
Crores. Make sure you're geared up for the new e-invoicing mandate.
To know if you are e-invoicing ready, answer the following questions
as best you can:
If the answer is no, then you need a GSP who can help you integrate all the changes or provide an e-invoicing software that will help you generate errorless e-invoices.
As per the recent mandate, e-invoicing will be implemented to:
The abbreviation QR code stands for Quick Response Code. It's a two-dimensional barcode this is affixed to invoices to display data in a machine-readable way. It contains important information about the invoice. The GST QR code is used in the e-invoicing system to instantly offer facts about a specific invoice without relying on an external source. The purpose behind the introduction of QR code is:
The QR code will contain the following information:
Under the e-invoicing system, the Invoice Reference Number (IRN) is
unique (also known as hash) issued by the Invoice Registration
Portal (IRP) using a hash generation method. A 64-character invoice
reference number must be produced for each document filed on the
Invoice Registration Portal, such as an invoice, debit, or credit
note. Every invoice raised in a financial year by a GSTIN in the
whole GST system would have this number.
Furthermore, the IRN must be included in every invoice made by the
provider to his receiver. Using the invoice reference number and the
central portal as well as an offline app, tax officers may check the
transaction's authenticity.
No, it is not possible to generate a new IRN for the e-invoices
against which IRN was already generated, since, the invoice
registration system will only accept a single invoice. The e-invoice
system checks for duplication with the GST system's Central Registry
for this purpose.
The Invoice Registration Portal (IRP) serves as Registrars, assigning
Invoice Reference Numbers (IRNs) to each invoice/credit note/debit
note via the portal. The invoice details can be uploaded to the IRP
in a specific schema. According to the legislation, only invoices
with an authorized IRN and QR codes are legitimate.
E-invoicing ensures that a specific standard or format is followed
when electronically providing invoice data. GST taxpayers must
adhere to a format that allows the system to read the output of
another system (inter-system readability). As a result, if the
invoice information is supplied in the specified format, it will
significantly improve the automation of the return filing process.
As a result, it may be inferred that the aim of the Invoice
Registration Portal (IRP) is to register the data of the invoices
created by the company daily, rather than to generate e-invoices
online.
Modes of Generating e-Invoices on IRP
Moreover, it shall be noted that IRP will solely serve as a pass-through gateway for invoice data validation, generation of IRN and QR codes. E-invoice data will not be stored or archived on the IRP.
From a legal standpoint, the auto-population of information from
e-invoices into GSTR-1 is just a utility for taxpayers. After
viewing the auto-populated data, taxpayers must verify the
correctness of the amounts and other data in each area, particularly
about GSTR-1, and file the form as per the applicable GST laws.
The auto-population of e-invoice data into GSTR-1 is based on the
document's date of creation (as reported to IRP); however, if the
GSTR 1 has already been submitted, the auto-population details may
be found in the consolidated excel file download.
Let us understand this with an example
If a document dated December 30th, 2021 is reported to IRP on
January 5th, 2022, but GSTR-1 for December 30th, 2021 is not filed.
If GSTR-1 is not filed for the month then the e-invoice level data
will be auto-populated in it. For all e-invoices dated December
2021, they will be accessible in a consolidated excel file.
