1What is E-Invoicing?
Electronic Invoice is a system of generating invoices under which different sets of invoices generated by one software would be easily read by another software. It will also eliminate the need for any fresh data entry and errors. It is an exchangeable electronic document between a supplier and a buyer in an integrated electronic format.
2What is the new model work of E-Invoicing?
As per the new working model, the business would continue to generate invoices on their own ERPs, accounting software or any of the billing software in their perspective manner. The generation of e-Invoice would be done by the taxpayer. Once it is generated, it would be reported to the Invoice Registration Portal (IRP) of GST. The IRP will also generate a unique Invoice Reference Number (IRN) and will digitally sign the e-Invoice. Later, It would generate a QR code and the same would be returned to the taxpayer. The IRP would also send the signed e-Invoice to the recipient of the document, on the email ID provided in the e-Invoice.
3Which documents are required to be reported to the GST System?
These documents are covered under the concept of e-invoice and need to be uploaded to the IRP system.
- Credit Note by Supplier
- Debit Note by Supplier
- Invoice by Supplier
- Additional document as per the requirement of law to be reported by the creator of the document
4What data would be contained in an e-Invoice?
An e-invoice would contain the flowing data.
- E-Invoice schema: This is the part that would consist of a detailed description of each field and the names of the technical field.
- Masters: Masters are predefined sets of inputs for certain fields including UQC, State Code, invoice type, supply type, etc. provided by GSTN
- E-Invoice template: The E-Invoice template enables the reader to correlate the terms used in other sheets as per the GST rules.
5What could be the maximum number of line items supported by an e-Invoice?
The maximum number of line items supported by an e-invoice is 100.
6Is the bulk-uploading of invoices possible with E-invoice system?
No, the invoices would be uploaded one at a time into the IRP. However, the ERP of a company may allow to upload bulk invoices at a time which are designed in such a way that it can place the request for the upload of individual invoices and fetch the QR code one by one in one go.
7What are the common modes available to get e-Invoices registered?
There are multiple modes available for getting e-Invoices registered on the Invoice Registration Portal (IRP). Some of the common modes are as follows:
- GSP based
- SMS based
- API based
- Offline tool based
- Mobile app-based
8Can we cancel an E-Invoice partially or fully?
We can’t cancel an e-Invoice partially, it has to be cancelled fully only. Once an-invoice is cancelled, it needs to be reported within 24 hours into the IRN. Cancellation is not possible after 24 hours on the IRN and it needs to be cancelled manually on the GST portal before the taxpayers file the returns.
9Is it possible to print the E-invoice?
Yes, it is possible for both including the seller as well as the buyer to print the e-invoice, using the QR code and even the signed e-invoice returned by the IRP.
10Can we amend an E-invoice?
All the amendments can be done to an e-invoice only on the GST Portal.