Now, the Government has further extended the E-Invoicing provisions to businesses exceeding Rs.50 crore turnover limit with effect from 1st April 2021. Vide Notification no. 05/2021 dated 8th March 2021.

E-Invoicing provisions were made effective in the following phases.

  • from October 1, 2020, issuing E-invoice was made mandatory for businesses with a turnover of Rs 500 crore. Vide notification no. 13/2020 dated 21st March 2020.
  • Further, from 1st January 2021, e-Invoicing provisions have been made applicable to businesses exceeding Rs.100 crore turnover limit in any of the financial years between FY 2017-18 to FY 2019-20, for business to business (B2B) transactions. Vide notification no. 88/2020 dated 10th November 2020.

E-invoicing shall not be applicable to persons registered under the following category:

  • SEZ Unit
  • Multiplexes
  • Passenger Transportation
  • Goods Transport Agency (GTA)
  • Insurance, Banking and Financial Institution

The process to Generate an E-invoice under GST

Step 1– Invoice will be generated by the supplier in his own accounting or billing system

Step 2-JSON file will be generated by the supplier to upload on the IRP.

Step 3 (Optional)-  Unique Invoice Reference Number (‘IRN’) can be generated by the supplier on the basis of 4 parameters like Supplier GSTIN, invoice number,  financial year, and document type.

Step 4– Supplier will upload the JSON file of the e-invoice along with IRN already generated directly on the IRP or through GSPs.

Step 5 – IRP will generate IRN and validate IRN of JSON if already uploaded by the supplier. IRP will add its signature on the invoice data as well as a QR code to the JSON.

Step 6 – Supplier will download digitally signed JSON with IRN along with a QR code. IRP will share back digitally signed e-invoice to seller and recipient if email id’s are mentioned on the e-invoice

You can refer above latest notification by clicking the following link

https://www.cbic.gov.in/resources//htdocs-cbec/gst/notfctn-05-central-tax-english-2021.pdf;jsessionid=01D3C5598A2F9CB8DF98D3D0CA3EE032

Post your query on rajnikant@rmpsco.com.

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