Special Economic Zone or SEZ are dedicated geographical regions present in a country, providing businesses with simpler tax and legal compliance. Read all about E-invoicing and SEZ here
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IRISGST’s E-invoicing Solution, GST Software and E-way Bill tool are powerful alone – but they are even better together.
IRISGST INTEGRATED SOLUTION INCLUDES:
E-Invoicing aka Electronic Invoicing is an electronic authentication mechanism under GST. Under the mechanism, all the B2B invoices generated by a business (agg. turnover > ₹500 CR in previous F.Y.) will have to be authenticated on the GSTN portal, electronically. Furthermore, to manage these invoices, the Invoice Registration Portal (IRP) will issue a unique identification number – Invoice Registration Number (IRN) for every invoice.
The mandate comes into effect from 1st October 2020 and the businesses need to be prepared for e-invoicing implementation. While mainly perceived as technical change and low impact for business users, the organisations need to take some key decisions for integrating e-invoicing in their routine business operations without major disruptions.
The Production Environment has been made LIVE for E-Invoicing portal and Organizations have already started using the IRP portal to generate test IRNs and E-Way Bills. As per recent ICAI advisory, more than 2000+ people are testing right now on the website and 3 to 4 lacs IRNs are generated so far for testing purposes.
We have prepared a comprehensive e-book that aims to cover the contours of e-invoicing in India, impact on businesses and IT systems, the key decisions to be taken and some recommendations for being future-ready.
Read more on E-invoicing
The e-invoice received from the suppliers will have the extra-information related to IRN. Hence, the recipients now need to verify the same and keep it for records.
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.
Read how you can to generatean E-way Bill using the IRP. Conditions for generation E-way Bill, cancellation process | E-invoicing and E-way Bill