Invoices play an important role for both buyers and suppliers as basic invoices contain full information about the sales and purchase of goods and services. The e-invoicing GST helps a lot to protect the business from entangling into false lawsuits as well as restrict everyone to follow rules as per the terms and conditions.
What Makes Invoicing Important for a Successful Business
E-Invoicing Software
Automated Platform for Taxpayers
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Contents
Background of E-invoicing in India? 3
Benefits of E-invoicing in India 4
Documents to Be Reported Through E-Invoice? 5
TYASuite E-Invoice Process Flow 6
Key Queries and Their Response as Relevant for Client 7
About TYASuite 11
Contact Us 12
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Background of E-invoicing in India?
What is E-invoicing?
‘E-invoicing’ or ‘electronic invoicing’ is a system wherein B2B invoices are electronically verified by GSTN
for further usage on the common GST portal.
Key Dates
1. The GST Council approved the standard of e-invoice in its 37th meeting held on
20th Sept 2019
2. The taxpayers with annual aggregate turnover of Rs 500 crores or more can
voluntarily generate e-invoices starting from 7th January 2020 through APIs.
3. The taxpayers with the turnover of more than Rs 100 crores but less than Rs
500 crores can also join them starting from 1 February 2020.
4. The electronic invoicing will be mandatory from 1st Oct 2020 for all taxpayers
with turnover over Rs 100 crores.
5. The aggregate turnover will include the turnover of all GSTINs under a single
PAN, across India
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Benefits of E-invoicing in India
Benefits Envisaged by E-Invoicing
Businesses will have the following benefits by using e-invoice initiated by GSTN:
E-invoice expected to resolve and Backward integration and
plug a major gap in data automation of the tax return filing
reconciliation under GST to process
reduce mismatch errors.
E-invoices can be read by
another system, allowing Faster availability of genuine input
interoperability and reducing Benefits tax credit.
data entry errors.
Real-time tracking of invoices Lesser possibility of audits/surveys
prepared by the supplier is by the tax authorities since the
enabled by e-invoice. information they require is
available at a transaction level.
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Documents to Be Reported Through E-Invoice?
While the word invoice is used in the name of
e-invoice, the documents given below will be
required to be reported through E-Invoicing:
1. Invoice by Supplier
2. Credit Note by Supplier
3. Debit Note by Supplier
4. Any other document as required by law to
be reported by the creator of the document
(as notified by the Government from time to
time)
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TYASuite E-Invoice Process Flow
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Key Queries and Their Response as Relevant for Client
Can E-Invoice be
Can E-Invoice be Amended?
cancelled?
Yes, the E-invoice Yes, E-Invoice can be
once generated can amended. However, this
be cancelled. facility is currently not given
through E-Invoice system.
Amy amendments has to be
done directly through GST
Portal.
Can E-Invoice be
Partially Changed?
Is it mandatory to
The E-Invoice sign e-invoice?
cannot be changed
partially. It has to be
fully cancelled and a No. E-Invoice is not required
new invoice to be to be signed by the Company.
raised. E-Invoice is already digitally
signed by the IRP.
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Key Queries and Their Response as Relevant for Client
Can the company Logo
be placed on E-Invoice? Can Client Sales Team/Finance team
receive a copy of invoice sent to
Customers?
Yes, Company can place their logo on
PDF version of E-Invoice. It is to be Yes. Client central finance/sales email
noted that E-Invoice which comes from ID can receive a copy of invoices from
IRP will not have Client Logo. TYASuite TYASuite E-Invoicing platform.
E-Invoice Portal can generate E-Invoice
with Client Logo and other non-standard
terms and help you to directly email the Can we check the status of
invoices to Client’s customer. invoices on real time basis?
Yes, Client will be provided
If TYASuite E-Invoicing portal is will secured login credentials
used for sending invoices to to access to TYASuite’s E-
customers, whose email ID will be Invoicing Portal and Client
used to send the invoices? can access the portal 24/7.
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Client’s provided email ID will be
used to send invoices to
customers.
Key Queries and Their Response as Relevant for Client
Does Client require to change
anything in their current How can I generate QR code on my E-
ERP/invoicing system Invoice
E-Invoice system required certain
mandatory fields. If those mandatory TYASuite platform has inbuilt
field are not there, the same shall be functionality to print the QR Code on
enabled or given in excel manually the invoice
against each invoice
Is QR printing on invoices
mandatory?
How can Client generate E-
Invoice if my existing system Yes. All E-Invoice must have
doesn’t support APIs QR Code
The same can be done through
excel invoice details
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Key Queries and Their Response as Relevant for Client
Will E-Invoices be emailed to
my customers directly by IRP?
Can TYASuite platform also help in
No. Automating GST Return filling
TYASuite platform can Perform the same
Yes, if other details are provided to
TYASuite, the GST Return can be
filled through the platform in one click
Is B2B invoices with unregistered
customer required to do e-
invoicing
Currently B2B invoice with only
valid Customer GST number can
be generated through E-Invoice. 10
For all other invoices, the existing
system can play the role
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