Goods and Services Tax Network (GSTN) issued advisory on E-Invoice glossary and steps for e-invoicing for the taxpayers reference on 18th August 2023.
According to the notification “GSTN has prepared an informative resource in the form of an e-invoice glossary and a step-by-step guide for your reference.”
The glossary provides the definition of E-invoicing, IRP, IRN, AATO, Enablement, GSTN, GSTR-1, Debit note, Credit note, e-Invoice QR code, e-Invoice QR Code Verifier App, e-Invoice FO (Front Office) Portal, API for e-invoicing Reporting, B2B invoices, ERP system, OTP, Auto-population, e-Invoice scheme..etc.
As per the glossary, ‘e-Invoicing’ means reporting details of specified GST documents to a Government-notified portal i.e., Invoice Registration Portal (IRP) and obtaining an Invoice Reference Number (IRN). It doesn’t mean the generation of invoices by a Government portal.
Taxpayers whose aggregate turnover exceeds the notified limits (based on PAN) in any preceding financial year (since 2017-18) (as per the relevant notification) are required to comply with the e-invoicing regulations. Currently, the notified aggregate turnover is 5 crore and above is applicable from 1st August 2023.
The steps issued by the GSTN for e-invoicing is as follows:
Steps for E-invoice Reporting:
Enablement for e-Invoicing
Step 2: Register on any of the six Invoice Registration Portals
Reporting and Auto-population of e-Invoice
You can access and download the PDF document by clicking on the link below:
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