- Indian e-invoicing system introduced in 2018 by GSTN Council
- First phase went live in 2020 for taxpayers above 500 crore rupee threshold
- Scope covers taxpayers with turnover exceeding 5 crore rupees
- Mandatory for B2B and B2G transactions, not required for B2C currently
- Steps for compliance involve integration with Invoice Registration Portal
- Taxpayers submit e-invoices to IRP in JSON format, receive IRN and QR code
- E-invoices must be stored for 6 years in line with GST rules
- Challenges include limited window for cancelling e-invoices and manual process for cancellation on GSTIN platform
Source: fonoa.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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