CBIC releases concept note on e-invoice
- Mar 19, 2020 | Viren Shah
The Central Board of Indirect Taxes and Customs (‘CBIC’) had earlier announced the introduction of e-invoicing for reporting of business-to-business invoices, voluntarily, from January 1, 2020.
With respect to the earlier notice, the CBIC has now released a concept note explaining the concept of e-invoice and how it operates. Some of the key aspects covered in the concept note are as under:
- Registration of e-invoice: An e-invoice can be registered through Invoice Registration Portal (‘IRP’) using the following six methods:
- Application Programming Interface (API) based;
- SMS based;
- Mobile application based;
- Offline tool based;
- GST Suvidha Provider (GSP) based
- Modification of e-invoice already reported: Any amendment in e-invoice already uploaded on IRP can be done only on the GST portal.
- Cancellation of e-invoice: The seller can upload the IRN of e-invoice already reported if he has cancelled that invoice. The invoice cancellation can be made as per the procedure given under the accounting standards.
- Printing of invoice: The taxpayers will receive a signed JSON from the IRP. The JSON file can be converted into a readable format and populated into a pdf file. The taxpayers can then print their invoice as they do currently after placing their business logo and other information as per their requirements.
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