What Is GST E-Invoicing In India?

GST e-invoices are designed to decrease GST evasion in India. There are many benefits to e-invoicing over paper invoices. These include cost reduction, acceptance worldwide, and improved accuracy. E-invoicing is a time-saver for businesses that use it to process accounts payable.

To whom does e-invoicing GST in India apply?

GST e-invoicing is available to all businesses with a turnover greater than Rs. 50 million. It was initially only applicable to businesses with a total turnover exceeding Rs. 500 crores during the financial years 2017/2018 through 2019/2020. CBIC changed GST e-invoicing on April 1, 2021.

CBIC Notification No.13/2020-Central Tax states that e-invoicing does not apply to certain people, regardless of their turnover. These categories include:

• Goods Transport Agencies (GTAs)

• A financial institution, an insurance company, or a bank company, including an NBFC

• Passenger transportation services are provided by registered persons

• A (SEZ), Special Economic Zone unit

• Registers offering admission to multiplex cinematographic film exhibitions

• CBIC Notification No. 23/2021)

Is e-invoicing required in India?

India e-invoicing is required for taxpayers whose turnover exceeds the limits for any fiscal year 2017-2018 to 2019/2020. The aggregate turnover limit for 2020 was Rs. 500 crore per Notification no 61/2020/Central Tax and 71/2020/Central Tax. The limit was later reduced to Rs. 50 million by the CBIC. The total turnover includes all GSTINs that fall under one PAN in India.

How do I register for the GST e-invoicing program?

Anyone GST-registered taxpayer who wishes to generate IRNs may register for the trial e-invoice system with a GSTIN. You don't have to sign up again for the e-invoice system if you already registered on the E-way Bill Portal. Log in using your EWB credentials.

These are the steps to register on the e-invoice system

Step 1: Go to the IRP portal.

Login to the e-invoice registration portal using the same credentials as the e­way bill portal

You can register on the e-way bill portal using your GSTIN or the registered mobile number with the GST system. Once you have entered the URL for the e-invoice, the screen will open.

Step 2: Click on the "Registration" tab.

To register, click on the e-invoice registration tab. You will be prompted to enter your GSTIN, captcha code, and other details on the e-invoice registration page. Click 'Go' once you are done to submit your request.

Once you submit your request, you'll be redirected directly to the e-invoice registration form.

Step 3: Verify your details.

You will now see your personal details, such as name, address, trade name, and mobile number. To verify these details, click on "Send OTP".

A message will be sent to the registered mobile number containing an OTP (one-time-password). Enter the OTP into the registration form, and then click the "Verify OTP" button.

After verifying your OTP successfully, you will be asked to choose a username (consisting of between 6-15 characters).

Once you are done, click the "Save" button. You can now log in to the e-invoice platform using the credentials that you have created.