e-Invoice – All you need to know

Starting 1st October 2020, the GST Council started phased introduction of e-invoice or Electronic Invoicie to report Business to Business (B2B) invoices to GST System.

What does e-invoicing mean?

e-Invoicing, similar to Electronic Way Bill is a document in an electronic format that is to be generated by Taxpayers and uploaded to notified Government Portal. CGST Rule 48(4) and 48(5) together define that only an e-Invoice is a valid Tax Invoice.

Who needs to generate e-Invoices?

Taxpayers with an aggregate turnover in a Financial Year exceeding Rs. 50 Crores

Where should one register for their e-Invoicing credentials?

Taxpayers need to register at GST e-Invoice system for their API Username and Password. For more information, see the article Creating e-Invoice API Login Credentials

Where should one generate an e-Invoice?

Invoice Reporting Portal (IRP) will not provide the facility to punch in invoices. Taxpayers will have to integrate e-Invoicing capability in their ERP.

Which transactions require an e-Invoice?

  1. All B2B Invoices.
  2. All B2C Invoices issued by Taxpayers with an aggregate turnover in a Financial Year exceeding Rs. 500 Crores have to contain a B2C Dynamic QR Code. However, these are not e-invoices.

How will GSTZen help me in e-Invoicing?

GSTZen’s e-Invoicing software integrates with ERPs such as SAP, Microsoft Dynamics, and Tally is equipped to handle all your e-Invoicing requirements.

GSTZen e-Invoice Integration

We at GSTZen, have written a variety of articles that will help you better understand the concept of e-Invoicing and its terms and conditions. Here are the list of GSTZen’s articles about e-Invoicing: