e-Invoicing Made Simple: File e-Invoices Easily!
Category: GST, Posted on: 28/12/2020 , Posted By: Webtel
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With e-Invoicing looming on the horizon for Indian businesses and organizations as per the announcement by the GST Council and subsequent notifications, taxpayers have to come to grips on how to generate e-invoices, familiarize themselves with the e-Invoicing model and also be on top of the documents needed to raise said invoices.
Let’s first find out how the e-Invoice workflow would take place.

e-Invoicing Made Simple: File e-Invoices Easily!

e-Invoice Workflow
Let’s go through the process of how to file an e-Invoice:
  1. Step 1: The supplier generates an invoice containing information such as billing name, address, GSTN, transaction value, GST rate, tax amount etc.
  2. Step 2: In this step, the JSON of the invoice is generated through APIs and uploaded on the Invoice Registration Portal (IRP).
  3. Step 3: In the third step, IRP checks for duplicate invoices, validates the e-invoice, issues the Invoice Reference Number (IRN), digitally signs the e-Invoice and generates a QR code.
  4. Step 4: Herein, GSTR-1 is updated in the seller’s login; subsequently e-way bill system populates Part A/B, and the GST portal maintains JSON for the return and ITC. Lastly, GSTR-2A is updated in the buyer’s login and receives the e-invoice registered with IRP. He/she can verify/print the e-Invoice through the QR code.
Benefits of e-Invoicing
By switching to e-Invoicing, taxpayers stand to gain a number of benefits. These are:
  1. Reduction of reporting B2B invoices in multiple formats as the taxpayer will only have to generate the e-Invoice in the specified format once.
  2. Automatic updation of Outward & Inward Supplies on GST portal.
  3. Creation of e-way bills using data of e-Invoices.
  4. Minimal need for data reconciliation between books of accounts and GST returns filed.
  5. Track invoices in real-time, availability of input tax credit at a faster pace and decrease in input tax credit verification issues.
  6. Automate the return-filing process to a large extent.
  7. Potential reduction in fraudulent activities due to access to data in real-time for the tax authorities.
  8. Eliminates the generation of fake GST invoices.
How can you file e-Invoices easily?
There are a number of e-Invoicing solutions available which will make your life quite easy if you opt for them. One such solution is Webtel’s Integrated e-Invoicing software which offers a bunch of features such as bulk generation of Invoice Reference Number (IRN), auto validation of data for accuracy and not to mention seamless generation & management of e-Invoices.

What’s more, you get end-to-end assistance for e-Invoices & resolving queries from our in-house team of experts who are just a call away! Last but not least, Webtel’s e-Invoicing solution is cost-effective and easy on your pocket.

Miscellaneous FAQs about e-Invoicing
  1. Will the e-Invoice format be the same for all categories of taxpayers?
    The e-Invoice format will be primarily the same for all taxpayers comprising of certain mandatory fields that need to be filled by them however, certain optional fields will be present that would depend upon the specific needs of a business or enterprise.
  2. What is the maximum number of line items that can be supported by an e-Invoice?
    The maximum number of line items that can be supported per e-Invoice is 100.
  3. What kind of data will an e-Invoice comprise of?
    There will be three kinds of data contained in an e-Invoice:
    1. e-Invoice schema: Herein, the technical field name and the description of each field will be mentioned and specify if a field is mandatory or not.
    2. e-Invoice template: The template has been designed as per GST rules and regulations wherein the mandatory fields are marked in green and optional fields are marked in yellow.
    3. Masters: In this, inputs for certain fields such as UQC, State Code, invoice type, supply type, etc. are pre-defined by GSTN.
  4. Can the e-Invoice be amended?
    Yes, the e-Invoice can be amended but only on the GST portal.
Curious to know more?
No worries! Our executive will explain to you everything about e-Invoicing

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For any questions or queries regarding the e-Invoicing, please write to contactus@webtel.co.in or simply comment to this article.

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