GST E-invoicing mandatory for Large Scale Businessmen
Undoubtedly, the GST department has introduced numerous interactive features on the GST portal, so as to make it more user-friendly for the taxpayers having GST registration. Recently, the GST return filing procedure was simplified. Moreover, the Annual GST return filing procedure in Form GSTR-9 was simplified. Besides, the GST e-refund process has now been introduced. This is commonly known as the Electronic Refund Processing and Single Disbursement procedure, which will truly speed up the refund process.
Now the GST council has introduced the e-invoicing feature on the GST portal.
CBIC has notified that GST e-invoicing on the common portal is now mandatory for all the large scale taxpayers having the GST registration, whose aggregate turnover in a financial year is beyond ₹100 crores.
1. What is the E-invoicing feature?
E-invoicing or electronic GST invoicing is a process of validation of the GST invoices electronically over GST Network (GSTN) for further perusal on the GST portal. However, that does not imply the generation of GST e-invoices from a central portal of the GST department. This feature is for the uploading of GST e-invoicing on the GST portal for the purpose of validation by the GST department.
2. When will the E-invoicing feature become live on the GST portal?
The Central Board of Indirect Taxes and Customs (CBIC) has notified that the e-invoicing feature shall come into force from the 1st of April, 2020.
The businessmen can, however, instantly create GST Tax Invoice through the InstaBill Software.
If you require any further assistance with regard to the GST return filing procedure, please feel free to contact our business advisor at 8881-069-069.
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