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  • E-invoicing for small businesses
    Know if e-invoicing for small businesses will prove to be highly beneficial With e-invoicing tax leakage and frauds using fake invoices are expected to reduce considerably due to the authorization of every invoice from the government portal. More than this, the e-invoicing mandate will prove to be highly beneficial to small businesses.
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  • E-invoicing in India
    With the final nod from GST Council, electronic invoicing or e-invoicing system shall soon be a reality. A transformational move by the CBIC, e-invoicing in India can help curb tax evasion drastically and also bring efficiency and ease in GST compliance. Not only this but with e-invoicing, India can join the bandwagon of countries worldwide who have adopted universally accepted standards...
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  • E-invoicing Schema
    Version 1.1 of E-Invoicing Schema released: There are not substantial changes in the new E-Invoicing schema. It has major changes to improve the syntax, parameter definitions and specifications.  In most of the cases, descriptions (label) and explanatory remarks are reworked. Following are the changes in the new E-Invoicing schema:
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  • Effect of E-Invoicing on ITC Claim
    An e-invoice will be considered valid once an IRN is generated for the same. Further, it is necessary to get the IRN and QR code printed on the final invoice. Thus, when you are on the receiving side of the invoice cycle, having IRN for an invoice will be necessary to claim ITC. Now, the e-invoice mandate, as we know, is applicable to suppliers having turnover above ₹ 500 cr. Invoices...
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  • GSP for E-Invoicing
    To communicate with the E-invoice system for registering your invoices, it is important to have API access. Companies having turnover more than 500 cr. have two options – one is “Direct API Access” and second is “API access through GSP”. But companies having turnover between 100 cr. to 500 cr. have only one option i.e., “API access through GSP”. So,...
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