As we all are aware that the GST Council has decided to implement a system of e-Invoicing, which will apply to notified taxpayers with an annual aggregate turnover falling in the Rs. 20 Crore up to Rs. 50 Crore range in any previous financial year between 2017-18 to 2021-22 must comply with the system.
The said council decision has been notified vide notification no. 1/2022 dated 24 Feb 2022. Please find below excerpts of the notification for your quick reference:
The new e-Invoice System is for GST registered persons for uploading all the B2B invoices to the Invoice Registration Portal (IRP). The IRP generates and returns a unique Invoice Reference Number (IRN), digitally signed e-invoice and QR code to the user.
IRN is a 64 character alpha-numeric unique code which will include information such as GSTIN, financial year, document type, invoice no, etc. When the invoice will be uploaded on IRP it will auto populate IRN and QR code on the E-invoice which can be printed and submitted to the buyer. Henceforth E-Invoice will be treated as authenticate document from the buyer perspective.
To begin with, a GST registered person would have received correspondence from the department or else the taxpayer can check his eligibility for e-invoicing at option- Search-: ‘E-invoice status of taxpayer’ on the e-invoice portal. Further they have to login on the IRP Portal and register for the e-invoicing system.
After a successful registration, taxpayers can begin by uploading invoices generated through their regular softwares, mobile applications or Excel sheet directly on the portal. Please note that uploading invoices will also auto populate the same details in the GSTR 1 return. Hence, you may also consider your software vendor to check with practical applicability and update in the software to avoid any delay in implementation.
Henceforth, e-waybill and e-invoice systems will send daily e-waybill and e-invoice statistics, alerts and notifications to the taxpayers through Sandes application and SMS to their registered mobile numbers. After a few weeks, the messages through SMS will be stopped. Hence, all the users of the e-way bill and e-invoice systems are requested to install Sandes app on their registered mobile numbers.
The documents to be reported to e-invoicing system are:
B2B/B2G Tax invoice;
Export invoice;
Reverse Charge Invoices (Outward supplies for reverse chargeable item/service);
Credit notes; and
Debit notes
Please find the attached PDF document containing mandatory information and details which are mandatorily required to be mentioned on invoice to avoid rejection by portal.
Please note that the E-invoice can be cancelled only within the midnight of the next day from the date of generation. In order to upload the same invoice again with some changes, the taxpayer will have to change the invoice number as the same invoice number cannot be used twice.
We have attached a copy of the notification for your quick reference. Feel free to connect if you require any additional information / clarification in this regard.
Author Bio
