How to Raise Invoice on GST E-Invoicing Portal?

How to Raise Invoice on GST E-Invoicing Portal?

The transportation of goods from one place to another is facilitated by the filing of ‘e-Way Bills’ on the common GST portal. Similarly, in its 35th meeting, the GST Council had decided to implement a system of e-Invoicing, which will apply to specific categories of persons. E-Invoicing does not imply the generation of invoices on the GST portal. That would be a myth. Instead, e-invoicing involves the submission of an already generated standard invoice on a common e-invoice portal. Thus, it automates multi-purpose reporting with a one-time input of invoice details. The CBIC notified a set of common portals to prepare e-invoices via Notification No.69/2019 – Central Tax.

What is e-invoicing under GST?

‘e-Invoicing’ or ‘electronic invoicing’ is a system in which B2B invoices are authenticated electronically by GSTN for further use on the common GST portal. Under the electronic invoicing system, an identification number will be issued against every invoice by the Invoice Registration Portal (IRP), managed by the GST Network (GSTN). The National Informatics Centre launched the first IRP at einvoice1.gst.gov.in.

All invoice information will be transferred from this portal to both the GST portal and e-way bill portal in real-time. Therefore, it will eliminate the need for manual data entry while filing GSTR-1 returns and generating part-A of the e-way bills, as the information is passed directly by the IRP to the GST portal.

What is the current system in place for issuing invoices?

Currently, businesses generate invoices through various software, and the details of these invoices are manually uploaded in the GSTR-1 return. Once the respective suppliers file the GSTR-1, the invoice information is reflected in GSTR-2A for the recipients for viewing only. On the other hand, the consignor or transporters must generate e-way bills by importing the invoices manually in excel or JSON.

Under the e-invoicing system (to be implemented from 1st October 2020), the process of generating and uploading invoice details will remain the same. It will be imported using the excel tool/JSON or via API integration, either directly or through a GST Suvidha Provider (GSP). The data will seamlessly flow to GSTR-1 preparation and e-way bill generation. The e-invoicing system will be the key tool to enable this.

 

 

Created & Posted by Pooja

Income Tax Expert at TAXAJ

 

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