Electronic invoicing – e-Invoicing is a system directed by GST council, in which B2B invoices are authenticated electronically by GSTN for further use on the common GST portal. Under e-Invoicing system, an identification number will be issued against every invoice by the Invoice Registration Portal (IRP) to be managed by the GST Network (GSTN). Wondersoft Software facilitated with e-Invoice, eWaybill and GSTIN Verification automation. e-Invoice authentication can be enabled with IRPs (GST Portal) and few leading GSPs.
- The notified tax payers have to generate the IRN (Invoice Reference Number) for the supplies/sales through IRP (Invoice Registration Portal). That is, the IRN has to be generated for the documents of Invoices, Debit Notes and Credit Notes for the intrastate, interstate and export transactions.
- The tax payer has to upload the complete invoice details either online or offline on set frequency on the same day. Details prepared manually or through internal ERP/accounting system, as per the format, and after due validations of the data, the IRP system returns the IRN with the signed invoice and QR code back to the tax payer. The IRN, ACK No, Date and QR code has to be printed by the tax payer on the invoice being issued to the buyer.
- 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 return as well as generation of part-A of the e-way bills, as the information is passed directly by the IRP to GST portal.
Who has to comply with e-Invoice
- All B2B invoices has to be notified to IRP and authenticated with GST and the response with IRN and QR Code details to be saved as reference.
- All B2C Transaction invoices not mandated to be notified to IRP. For B2C invoices, it is required to print a QR Code (Quick Response Code). There is no standard specification provided for B2C QR code. However, going in accordance with IRP Signed QR code, retailer can include all items excluding the GSTIN of the customer (as customer is unregistered here) which can be replaced with the name of the customer.
- A dynamic QR code that the taxpayers are already making available to the recipient through a digital display, usually also includes a payment link. Thus, on scanning the dynamic QR code, the recipient can directly make payments through such payment links. So, in case the taxpayers do not already have such dynamic QR code, then the payment link can also be included in the self-generated QR code.
How to enable in GST Portal
- Customer Registration with IRP portal
• Retailers can register directly on IRP (Invoice Registration Portal)
• Retailers can use the services of GSP (GST Suvidha Providers)
e-Invoicing Benefits to business
- GST authenticated e-Invoice through GST system
- Automated ewaybill generation – no duplication of work (Invoice Registration Portal)
- Availability of real time input tax credits
- Since transaction data updated in GST Portal, it will minimize / eliminate the tax authorities audits / reconciliation
- Simplified GST compliance
- Lesser reconciliation errors
- Improvement in business efficiency
Wondersoft enabled with below API’s for automated approach
Wondersoft key benefits
- Plug and play with GST IRP portal
- No Manual intervention
- Completely automated using API
- Realtime authentication with GST system
- Automated e-Way bill for e-Invoices
- QR code generation for B2C invoices
- Generate IRN
- Cancel IRN
- Get E-Invoice Details
- Generate E-Way Bills
- Update Vehicle Number
- Cancel E-Way Bills
- Consolidated E-Way Bills
- Extend Eway Bill Validity
- Search GST Tax Payer
- Get GSTIN API