E-invoicing starts in a month and the onus of creating invoices and getting them registered on the Invoice Registration Portal (IRP) lies on the Supplier.
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With RFID, VAHAN, FASTag, GSTR 1 matching and E-invoicing coming into the picture, the E-way bill has become an important document and hence the businesses need to consciously define their long-term strategies around E-way Bill Management. Let us understand the importance of all these components and their relation with E-way Bills here in this detailed article.
E-invoice New API Specification has been released today in line with the updated e-Invoice standard fields released early Feb 2020.
E-invoicing model has been adopted by many countries globally with varying implementation models. The Indian adoption consists of following components.
E-invoice QR Code will make its mark on all B2B invoices and will be unique for every invoice. | QR Code and E-invoicing | E-invoicing and B2B QR Codes | B2B E-invoices. Read more…
Falling Under The E-invoice Criteria? Here Are Mistakes To Avoid | E-invoice Preparation | E-invoicing in India | E-invoicing under GST
Read the Summary of GST Circular 164. It is all about GST Rates and Classification of Goods/Services | Latest GST Circulars and Notifications
Summary of GST Circular 161 talks about clarification relating to the export of services-condition (v) of section 2(6) of the IGST Act 2017. Read here…
GST Circular 160 explained: It talks about the clarification with respect to certain GST related issues. Read here…
Summary of GST Circular 159: This circular talks about the clarification on doubts related to Scope of “Intermediary”. Read here…
Vendors being GST compliant plays a significant role in the ITC claim of taxpayers. As the GST law is designed, the taxpayer not only needs to be self-compliant, it is equally important to have a GST compliant network of vendors around. If you deal with multiple vendors, keeping a tab of compliances of all vendors becomes an important activity for optimum ITC claim.
1st October 2021 marks the one-year completion of e-invoicing in India. Presently, the system adoption rate stands at 80% and is likely to increase even further. However, just like constant GST law changes, e-invoicing is also evolving and is undergoing changes. All the taxpayers that fall under the threshold, need to take note of the changes/updates mentioned in this article.
