E-invoicing and the future of GST compliance in India
India rolled out electronic invoicing or e-invoicing for B2B transactions from October 1, 2020, under which GST registered firms with anual turnover more than Rs 500 crore need to generate GST compliant e-invoices.
Under the e-invoicing system, the taxpayer needs to electronically authenticate their invoice with an invoice registration number (IRN) and that number will be used as a point of reference while carrying out several GST compliance tasks, including GST returns, e-way bills, reconciliations and much more.
Some recent announcements and comments from the government authorities has created an urgency among businesses to revisit their GST compliance operations, evaluate the shortcomings of their current tax technology systems and get ready to adopt a GST solution or software which can easily automate their e-invoicing, GST returns, e-way bills, reconciliation and many more.
Watch our 25-minute session to learn:
- Quick recap of e-invoicing launch in India
- Recent updates, announcements and temporary reliefs
- Possible challenges for businesses after e-invoicing introduction
- Impact of e-invoicing on GST returns, e-way bills & reconciliations
- What businesses need to do to get ready for the future
- Does having a comprehensive GST solution benefit businesses in the future?
On-demand webinar details
Duration: 25 minutes