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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 > ₹50 CR in a 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, that is introduced in phases, came into effect from 1st October 2020 for companies with turnover > ₹500 CR and from 1st January 2020 for companies with turnover > ₹100 CR. And now, the mandate gets extended to companies with > ₹50 CR turnover from 1st April 2021.
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.
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
A company has to deal with multiple transactions and with the supply of goods and transportation, the requirement of e-way bills also becomes mandatory. Thus a secure and comprehensive e-invoicing software is necessary to ease the course not just for IRN generation but also to print and share invoices, manage e-way bills, and for a smooth ITC claim as a way ahead.
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.
To start generating e-invoices, there are certain preparatory activities. Organizations can get started with these in parallel to getting their internal system and processes ready for e-invoices. In this article, we share all the important tasks that one needs to undertake before starting their e-invoicing journey.
Why small businesses should look forward to E-invoicing? Read the full Blog to learn the four important reasons why SMEs should adopt e-invoicing plus steps on how they can get started.
Practical challenges at different stages in e-invoicing. Challenges in the IRN preparation stage, generating IRN stage which also includes e-way bills, and the post IRN stage. Read more…
As per the latest GST Notification 1/2022 released on 24th February 2022, e-invoicing has been made mandatory for all the B2B transactions from 1st April 2022 for all the entities with an aggregate annual turnover of Rs. 20 Cr. or more in any financial year from 2017-18 onwards. Read the complete article to know all the related changes.
Registration Number: IS683782
