E-invoice – EASY UNDERSTANDING -FAQ
Q 1 WHAT is E-invoice?
Ans. – E-invoice means IRN number and QR code to get it printed on your Invoice/ credit note/ debit note. That process is called E-invoice
– You have to make SALES INVOICE in your Accounting software the way you used to make. But now onwards, When Invoice will bear IRN Number and QR code then ONLY It is called E-invoice.
Q 2. To whom E-invoice is compulsory?
Ans. Whose Turnover has crossed 10 Crore in any Fin. year between 17-18 to 21-22 then He has to make E-invoice from 01-10-2022 compulsory
Q 3. Any change to make in Accounting software for E-invoice?
Ans. For Tally prime, I have noted down steps for One time implementation for configuring E-invoice .
Other Software users, They must make necessary changes today itself in their Accounting software Should do changes.
Q 4. E-invoice for which transactions required?
> B2B sales/Export sales/Deemed export sales/SEZ sales/ And credit note, debit notes of All above – compulsory require to make
> B2C / EXEMPT / NIL RATED/ NON GST SALES And credit note, debit notes of them – Not required to make E-invoice
Q 5. What if Turnover has been below 10crore in 22-23?
Ans. Once Applicable – Always applicable
E-invoice – one time process to implement for TALLY PRIME user
step-1. LOGIN
Login with Same Eway bill id password on E-invoice SITE https://einvoice1.gst.gov.in/
Step-2. API REGISTRATION
Go to API registration > Go to user credentials>
Create API User > Enter OTP> Click THROUGH GSP > Choose TALLY
step-3. TALLY CONFIGURATION
OPEN TALLY PRIME > press F11
click YES in ENABLE GST> NEW MENU POP-UP
Go to Last Line > E-invoice Applicable > YES
Write date > Write Applicable from (when it will be applicable)
Also click YES in Make eway Bill with E-invoice
step-4. Make Sales Invoice in Tally prime
GO TO VOUCHER > Sale invoice > Enter all details>
Click yes when asked E-invoice applicable or not >
Enter API ID Password when asked about Login. (ONE TIME)
E-Invoice & E-Way Bill- Difference
|
E-invoice (IRN +QR) |
E-way Bill ( ROAD PERMIT) | |
| PURPOSE | E-invoice means IRN number and QR code to get it printed on your Invoice/ credit note/ debit note. That process is called E-invoice
( It does not mean that You have to make Electronically invoice separately ) |
E-way bill is road permit only. When Goods are transported by Road, Air, Ship , railway etc. then You have to make E-way bill before Transportation
( It does not mean that You have to make any Bill separately) |
| Do we have to do any Efforts to make? | NO, You just make configuration in your Accounting Software. (Do one time process to implement) | YES, , You have to make Eway bill on Ewaybill website ( However, Your Accounting software may give you facility to make E-way bill also ) |
| Which Transaction require to make ? | Tax invoice of
(It will make E-invoice Automatically in Background. And It will get IRN printed with QR code ) |
Goods having value more than Rs. 50000 ( basic +TAX) then Eway Bill is Compulsory
(In case of Interstate Job work , it is compulsory to make eway bill even below Rs. 50000) – When you sale Goods – B2B + B2C + EXPORT+ SEZ+DEEMED >with Tax invoice – When you return goods earlier purchased >With debit note – When you send goods for Job work or for repair or for Exhibition or any other purpose >with delivery challan – When imported goods to bring to Factory > with delivery challan |
| Which transactions do not require to make? | B2C / EXEMPT / NIL RATED/ NON GST SALES And credit note, debit notes of them | -EXEMPT / NIL RATED /NON GST sales
-below Rs. 50000 value ( as per state Specific limit) – Within city (as per state specific Rules) |
| Penalty if you don’t make | Rs 50000 Penalty and No ITC to Counter Party | If you have not made Invoice / Eway Bill / validity is over / Wrongly made then Tax +200% penalty of Goods value |
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