E-invoicing has become a significant and popular trend in indirect taxation in recent years. The excitement surrounding e-invoicing stems from its impact on tax compliance, the challenges faced by companies in meeting real-time or near real-time reporting requirements, and the digital tax transformation it necessitates.
E-invoicing in India is a system in which B2B (business-to-business) transactions are authenticated electronically by the Goods and Service Tax Network (GSTN). For each transaction, an identification number referred to as an Invoice Reference Number (IRN) is issued against every invoice by the Invoice Registration Portal (IRP).
Source: www.fonoa.com
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