What Is E Invoicing
1. E Invoicing is mandatory from 1’st April, 2020 for companies in India, having turnover more than 100 Crores
2. E –Invoicing is the submission of an already generated invoice on a common portal
3. In the proposed system, an identification number will be issued against every invoice by the invoice registration portal to be managed by GSTIN
4. It automates multi-purpose reporting with a one-time input of invoice details.
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Benefits of E Invoice to Organizations
E-invoice mitigates the major loopholes in data reconciliation under GST and reduces the possibility of mismatch errors and flaws.
E-invoices can be read by another, allowing transparency and help mitigate any potential errors.
Real time tracking of E Invoices is possible.
The relevant details of invoices would be auto-populated in filing other returns which saves time and efforts.
When you automate the tax return filing process, you can seamlessly generate the part-A of e-way bills.
Lesser interventions of tax authority since the information is scanned at the transaction level.
E – Invoicing Architecture
E Invoice Process Flow
E Invoice features