E-Invoice : Things To Know About e-Invoice, E-Invoice Template

E-Invoice : Things To Know About e-Invoice Starting from April 1, 2020 a new invoicing system is to be introduced in the GST business process. Below are some points you should know about EInvoice. What is GST EInvoice As per Rule 48(4), the invoice shall be prepared by including such particulars contained in FORM GST INV-01 after obtaining an Invoice Reference Number by uploading information contained therein on the Common Goods and Services Tax Electronic Portal in such manner and subject to such conditions and restrictions as may be specified in the notification. E-invoice will be invoice with the entire requirement as per rule 46 and will have invoice reference number generated from Common Goods and Services Tax Electronic Portal as per rule 48(4). Which Class of registered persons have been notified to generate EInvoice EInvoice shall be made mandatory for all taxpayers with a turnover of over ₹100 crore. What is the Effective date of implementation of EInvoice The effective date for implementation of generation of E-Invoice is from 1st day of April, 2020. However it is expected that compliance can be started on voluntary basis from 1st January 2020. What are the official websites notified for generation of EInvoice The official websites notified for generation of EInvoice are: (i) www.einvoice1.gst.gov.in; (ii) www.einvoice2.gst.gov.in; (iii) www.einvoice3.gst.gov.in; (iv) www.einvoice4.gst.gov.in; (v) www.einvoice5.gst.gov.in; (vi) www.einvoice6.gst.gov.in; (vii) www.einvoice7.gst.gov.in; (viii) www.einvoice8.gst.gov.in; (ix) www.einvoice9.gst.gov.in; (x) www.einvoice10.gst.gov.in. What is the information required to generate E-Invoice i. Supplier GSTIN, ii. Supplier’s invoice number and, iii. Financial year (YYYY-YY). iv. Details of supplier & consignee v. Type of supply

• If it is B2B or B2C
• If it attracts RCM
• It it attracts TDS/TCS
• If it is a Export, Supply made to SEZ or Deemed export

vi Details of Supply

Item Description	Quantity	Rate	Assessable Value	GST Rate	IGST Value	CGST Value	SGST Value

vii. Authorization by designated authority Download E-Invoice Template : https://t.me/Studycafe/5407 Whether e-invoices generated through GST system can be partially/fully cancelled E-Invoice can’t be partially cancelled. It has to be fully cancelled How would amendments be allowed in e-invoice Amendments to the e-invoice are allowed on GST portal as per provisions of GST law. All amendments to the e-invoice will be done on GST portal only. When is Quick Response (QR) Code mandatory in E-invoice Registered person whose aggregate turnover in a financial year exceeds Rs. 500 Crore shall issue invoice containing Quick Response (QR) Code in case of supply made to unregistered person. QR Code on B2C Invoices shall become mandatory from 01.04.2020 Notifications issued on E-Invoicing are given below:

Notifications	Subject
72/2019-Central Tax ,dt. 13-12-2019	Seeks to notify the class of registered person required to issue invoice having QR Code.
71/2019-Central Tax ,dt. 13-12-2019	Seeks to give effect to the provisions of rule 46 of the CGST Rules, 2017.
70/2019-Central Tax ,dt. 13-12-2019	Seeks to notify the class of registered person required to issue e-invoice.
69/2019-Central Tax ,dt. 13-12-2019	Seeks to notify the common portal for the purpose of e-invoice.
68/2019-Central Tax ,dt. 13-12-2019	Seeks to carry out changes in the CGST Rules, 2017.

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