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Tuesday, August 20, 2019

E-Invoicing Under GST ( New e-invoicing under GST)

E-Invoicing Under GST

  • In the new invoicing system, the suppliers will be required to generate a unique identification number-also referred to as invoice reference Number-for each of its invoices.
  • GSTN would provide multiple mechanisms to generate the said IRN.

  • Once the IRN generated, the details of the invoices and the said IRN would need to be provided to a pre-notified agency, such as NIC, on a real-time basis.

  • The agency would validate the IRN and issue a digitally signed e-invoice and provide the same to the supplier.

  • The authorised agency also passes on the invoice details to GSTN/NIC for auto-population of returns/e-way bill(Part-A.).

  • Initially, only specified sellers or invoices above the threshold will be required to issue invoices electronically.

E-Invoicing Under GST
E-Invoicing Under GST 

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