- Introduction of E-Invoice Glossary: The GSTN has released Advisory No. 461 on November 29, 2024, which includes an e-invoice glossary and a comprehensive step-by-step guide to aid taxpayers in understanding and implementing e-invoicing requirements under GST.
- Key Definitions: The glossary defines essential terms related to e-invoicing, including e-Invoicing, IRP (Invoice Registration Portal), IRN (Invoice Reference Number), and AATO (Annual Aggregate Turnover), explaining their roles and significance in the invoicing process.
- E-Invoicing Process Overview: Taxpayers are required to create GST invoices on their own systems and report them to one of the six authorized IRPs. Upon reporting, they receive a signed e-invoice with a unique IRN and QR code, which is necessary for the invoice’s validity.
- Registration and Reporting Steps: The advisory outlines necessary steps for enablement and registration on IRPs, detailing the process for reporting e-invoices, verifying IRNs, and utilizing the GSTN e-Services App for additional functionalities like verification and status checks.
- Access to Resources: The e-Invoice Master FO Portal serves as a centralized resource for all e-invoicing-related information, including master codes, enablement status checks, and links to IRP portals, with future plans to allow for e-invoice downloads and comprehensive functionality.
Source A2ztaxcorp
