01.08.2022: The Ministry of Finance has issued a notification today for implementing electronic invoicing w.e.f 1st October 2022 for taxpayers crossing Annual Aggregate Turnover (AATO) 10 crores.
Thus, E-invoicing has become mandatory for taxpayers, whose aggregate turnover is more than 10 crores from 01st October 2022.
This has reference to notification no. No. 17/2022 – Central Tax dt. 01.10.2022. Read more about E-invoicing.
Ministry of Electronics Announces E Invoice Statistics
04.01.2021: The Ministry of Electronics & IT announced 3 months statistics of E-invoice generation by the taxpayers. According to the data, the GST E-invoice system has completed a journey of 3 months.
The system has enabled more than 37000 taxpayers to generate around 1680 Lakh E Invoices through the system. Out of that 603 Lakhs e-invoices generated in the month of December 2020 as compared to 589 lakhs in November 2020. Hence, it is not wrong to say that the GST e-invoice system is the game-changer in the Goods and Service Tax system.
Further, it says the response of the system is good in the generation of IRNs and hassle-free. However, the system detected some common errors such as repeated requests on the same document number, requests with validation or calculation errors, etc.
In order, to overcome such errors, the NIC Help desk took few measures, including communication with taxpayers about the issues through emails and telephonic calls and suggestions of corrective measures. This has facilitated in bringing the errors down. Similarly, NIC sends the daily update of IRN to the generators about the number and value of the IRN generated by him/her.
How the E invoicing system worked?
From 01st January 2021, the government has reduced the aggregate turnover of taxpayers to Rs. 100 crore for the generation of IRN. In this regard, the NIC has enabled the API and offline tools in excel for these taxpayers. on the other hand, NIC is committed to providing adequate infrastructure to handle the generation of e-invoices from these taxpayers from 1st January 2021.
As of now, the NIC portal facilitates the big taxpayers, whose turnover is more than Rs. 500 Crores, to enable direct API access to their suppliers and clients from their systems.
Further, by Keeping the requirements of small taxpayers in view, NIC has developed the offline Excel-based IRN preparation and printing tool, called a NIC-GePP tool.
The application tool allows the taxpayers to enter the invoice details, prepare the file to upload on the NIC IRN portal. Similarly, one can download the IRN with QR code and print the e-invoice with QR code.
Update on Bulk E invoice Generation Excel Tool
07.12.2020: The e-invoice portal has upgraded the bulk e-invoice generation utilities. Therefore, the taxpayers now will have to use these new offline utilities, to prepare the JSON file. If you are still using the old version then, the system may throw an error and you will not able to generate IRN on the portal. Here are the details of an update.
The latest version of the utility is now Version-1.01.
- E-Invoice JSON Preparation – Format A [For B2B, SEZ, Exports and Deemed Exports of e-Invoice details in one sheet]. Download
- E-Invoice JSON Preparation – Format B [For B2B, SEZ, Exports, and Deemed Exports of e-invoice details in two sheets]. Download
- E-Invoice JSON Preparation – Format C [For B2B, SEZ, Exports, Deemed Exports along with Payment and Reference details of e-invoice in multiple sheets]. Download
- E-Invoice JSON Preparation – Format D [For B2B, SEZ, Exports, Deemed Exports along with Payment and Reference details of e-invoice in one sheet]. Download
The standard version of E-invoice JSON generation can be downloaded from here now.
Related: E invoice concept under GST
Updates on E-Invoice portal
Below are some of the latest updates that are carried out on the e-invoice portal as on 07th December 2020. Below are the details:
1) IRN requests with Document Date from 01/10/2020 only will be accepted and processed for IRN generation. IRN requests belonging to previous dates will be rejected.
2) Item Serial no. can be only numeric.
3) “Reverse Charges” can be set as “Y” in case of B2B and SEZ invoices also.
4) In the case of Reverse charge and Export transactions (EXPWP), the Total Value of the Item should match either with tax values or without tax values. That is, the total value of an item can include or exclude the tax values as per the business requirements.
5) Now the Port Code is made optional.
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