What is e-invoicing in GST?

e-Invoicing is a system of generating and uploading electronic invoices for business-to-business (B2B) transactions under the Goods and Services Tax (GST) regime in India. The invoices are uploaded on the Invoice Registration Portal (IRP), which is a government-mandated portal.

The e-invoicing system was introduced in India with the aim of improving the efficiency of GST compliance and reducing tax evasion. It also helps to streamline the flow of information between businesses and the government.

How does e-invoicing work?

When a business generates an invoice, it is uploaded on the IRP. The IRP validates the invoice and generates a unique Invoice Reference Number (IRN). The IRN is printed on the invoice and is also available on the IRP.

The recipient of the invoice can verify the invoice on the IRP by entering the IRN. The IRP will show the details of the invoice, including the date of generation, the amount, and the tax details.

Who is required to e-invoice?

The following businesses are required to e-invoice:

Businesses with a turnover of more than	Date for Mandatory implementation of e-invoice
500 Crores	1st October 2020
100 Crores	1st January 2021
50 Crores	1st April 2021
20 Crores	1st April 2022
10 Crores	1st October 2022

What are the benefits of e-invoicing?

The e-invoicing system offers a number of benefits, including:
Improved compliance: The e-invoicing system helps to ensure that businesses are compliant with GST regulations.
Reduced tax evasion: The e-invoicing system makes it more difficult for businesses to evade taxes.
Streamlined data flow: The e-invoicing system streamlines the flow of information between businesses and the government.
Increased efficiency: The e-invoicing system can help businesses to save time and money.

How Tally Education helps you to understand e-Invoicing?

Tally Education has taken every step towards skilling and upskilling the learners and enabling them to confidently take up desired job opportunities.

For a smooth career in Commerce or Finance industry, these Certifications will undoubtedly improve your learning and employability and help you become adept in the field of computerized accounting and excel at working with Tally.

TallyEssential and TallyProfessional are the on-demand Certification courses that explains the concepts ranging from fundamental to advanced financial accounting. This will guide you how to perform basic to intermediate accounting, inventory, and basic taxation (GST, TDS), as well as how to simplify company books of accounts, to name a few.

The recent changes to the e-Invoicing rules have been duly incorporated into the curriculum to provide comprehensive concept clarity and guidance with the practical implications of the same.

If you want to pursue a bright career as an accountant or become a GST practitioner, this course will help you navigate through.

Tally Education strives to positively impact the lives of “Learners” by increasing employability and accelerating professional careers.