India’s GST network website now includes the latest FAQs on Goods and Services Tax – GST E-invoice System. It provide clear answers to a bulk of questions beneficial for the taxpayers and service providers. The FAQs include questions such as how electronic invoicing differs from the current invoicing system, which businesses have to be e-invoice ready and what transactions covered under e-invoicing.
E-invoicing becomes mandatory as of 1 October 2020 for certain taxpayers. It seems that there will not be another postponement. Government provides a free offline utility for small entities not having their own ERP solutions. It prepares e-invoices, report them to IRP and obtain IRN/signed e-invoices. However large companies must upgrade their ERP system to issue, send and receive invoices in electronic format as soon as possible.
Click the below link to see the full questions and answers:
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