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.
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.
Taxpayers with an aggregate turnover in a Financial Year exceeding Rs. 50 Crores
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
Invoice Reporting Portal (IRP) will not provide the facility to punch in invoices. Taxpayers will have to integrate e-Invoicing capability in their ERP.
GSTZen’s e-Invoicing software integrates with ERPs such as SAP, Microsoft Dynamics, and Tally is equipped to handle all your e-Invoicing requirements.
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: