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New e-invoicing process in India | Basics of GST e-invoicing - Zoho Books
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The second video of our e-invoicing masterclass series covers the new e-invoicing process and shows how it has changed from the current GST return system without e invoicing.
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What is e invoicing?
e invoicing in GST is a new system of reporting B2B invoices to the GST system for authentication purposes. Businesses have to upload their invoices to the Invoice Registration Portal (IRP) in JSON format. The IRP returns the necessary fields back to the ERP, or accounting platform for the invoice to be valid.
When will it be implemented?
e-invoicing in India is set to go live on October 1, 2020.
Who does it apply to?
einvoicing applies to taxpayers with an annual turnover of over 500 crores in the financial year 2019-20.
What are the benefits of e invoicing?
Interoperability between different accounting, invoicing and ERP software - Reduces data entry errors - More transparency in business transactions - Lesser time spent on filing GST returns and generating eWay bills - Reduces tax evasion
How does Zoho Books help you with raising e invoices?
Read more about:
What is e invoicing?
e invoicing in GST is a new system of reporting B2B invoices to the GST system for authentication purposes. Businesses have to upload their invoices to the Invoice Registration Portal (IRP) in JSON format. The IRP returns the necessary fields back to the ERP, or accounting platform for the invoice to be valid.
When will it be implemented?
e-invoicing in India is set to go live on October 1, 2020.
Who does it apply to?
einvoicing applies to taxpayers with an annual turnover of over 500 crores in the financial year 2019-20.
What are the benefits of e invoicing?
Interoperability between different accounting, invoicing and ERP software - Reduces data entry errors - More transparency in business transactions - Lesser time spent on filing GST returns and generating eWay bills - Reduces tax evasion
How does Zoho Books help you with raising e invoices?