Gist of these notifications:
1. E-invoicing facility will effective from 1st January, 2020 on optional basis.
2. In case of B2B supplies made by the registered person, whose aggregate turnover in a financial year exceeds one hundred crore rupees, this E-Invoices shall be mandatory with effect from 1st April 2020.
3. In case of supplies by a registered person, whose aggregate turnover in a financial year exceeds five hundred crore rupees, to an unregistered person (hereinafter referred to as B2C invoice), shall have QR (Quick Response )code
4. Following Portal shall be used for the purpose of preparation of these e-invoices w.e.f. 1st January 2020: einvoice1.gst.gov.in to www.einvoice10.gst.gov.in
In theory, the process may seem little complicated. However, basic purpose of this part of the process is to pre-populate data in the relevant GST returns and reduce the reconciliation process. In fact, it is already working effectively in over 60 countries. This will help curb goods and services tax (GST) evasion and make compliance easier. There would be other positive outcomes as well:
The e-invoice schema and template, as approved by the GST Council, are available in the GSTN website at https://www.gstn.org/e-invoice/
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|CBIC notifies common portal for e-invoice under GST||Notification No. 69/2019–Central Tax||13/12/2019|
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