E-INVOICING UNDER GST

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What is an E-Invoice?
E-Invoicing is the submission of an already generated standard
invoice on a common portal. Thus it automates multi-purpose
reporting with a one-time input of invoice details.
E-invoicing Under GST
Recently, the government came up with rule of
e-invoicing under GST wherein invoice has to be
raised through the GST portal. This rule shall be made
compulsory from 1st April 2020 until then it is made
optional.
Key highlights of the e-invoicing:
 The invoice shall be prepared by such class of registered persons in
FORM GST INV-01 after obtaining an Invoice Reference Number by
uploading information contained therein on the Common Goods and
Services Tax Electronic Portal in the manner and subject to conditions
and restrictions as specified via a notification:
Taxpayers whose aggregate turnover in a financial year in respect of
supply of goods or services or both exceeds Rs. 100 crores to a
registered person.
 Any invoice issued by such class of registered in any manner other
than the manner specified shall not be treated as a valid invoice.
 Further, the provisions of regular invoicing and particulars to be
contained therein as specified under sub-rules (1) and (2) of section 48
shall not apply to such e-invoice.
Benefits From E-Invoice under GST
Government envisaged below benefits from E-Invoice:
Elimination of fake invoices
Substantial reduction in input credit verification issues
One time reporting on B2B invoice data, to reduce
reporting in multiple formats (one for GSTR 1 or ANX 1
and the other for e-way bill)
E-Way bill can also be generated using e-Invoice data
Process of raising an invoice under e-invoicing
system?
The GST or IRP portal will NOT provide facility to generate invoices. IRP
is only to report the invoice data.
 Step 1: Generation of the invoice
 Step 2: Generating unique Invoice Reference Number (IRN).
 Step 3: Uploading JSON of the e-invoice into the IRP by the seller.
 Step-4: IRP will perform its checks to ensure that same invoice is not
being uploaded again.
 Step 5: Sharing of uploaded data with GST and e-way bill system
 Step 6: Returning the digitally signed JSON with IRN back to the
seller along with a QR code and sending of registered invoice to the
seller and buyer on their mail ids provided in the invoice.
About Us
TheTaxTellers is a committed and dedicated professional
service entity aimed at reducing the compliance and tax
issues juggling in every individual's and business lifecycle.
Our core team has been serving the businesses for decades,
having experienced professionals under it's Umbrella.
Thank You!