NOTE

IN Businesses with an aggregate turnover above ₹5 crore are required to issue e-invoices. E-invoicing applies to B2B supplies, supplies to government entities (B2G), exports, and supplies under reverse charge, as notified by the GST authorities. Each e-invoice must be reported to the Invoice Registration Portal (IRP), which generates a unique Invoice Reference Number (IRN) and a QR code. The e-invoice must include mandatory fields such as supplier information, recipient information, invoice item details, and totals according to the official schema. Businesses must comply with the prescribed time limits for reporting e-invoices, which vary depending on turnover. ERP or billing software should be updated to generate invoices in JSON format compatible with IRP APIs. Once authenticated by the IRP, the e-invoice remains valid and can be issued to recipients with the IRN and QR code. Certain categories, such as banks, insurance companies, goods transport agencies, SEZ units, and local authorities, are exempt from e-invoicing. Non-compliance can result in the invalidation of input tax credit claims, while compliance offers benefits like automation of GST returns, faster credit, and reduced tax leakage. For more details, visit the GST Portal or the IRP Portal.

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