The GST Council has decided to introduce electronic-invoice (“E-invoice”) on a voluntary basis from January 2020. Presently there is no standard defined for E-invoice under GST or under any other statute. Need has been felt of having a standard to ensure complete interoperability of e-invoices across the entire GST eco-system so that e-invoices generated by one software can be read by any other software, thereby eliminating the need of fresh data entry, which is a pain point today and also responsible for a lot of transcription error related non-reconciliation.
Source: A2Z Taxcorp LLP
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