Devshreem Solutions Private Limited

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What is E-invoicing?
e-Invoice known as ‘Electronic invoicing’ is a system in which all B2B invoices are electronically uploaded and authenticated by the designated portal.

Post successful authentication, a unique Invoice Reference Number (IRN) is generated for each invoice by IRP. Along with IRN, each invoice is digitally signed and added with a QR code. This process is collectively called as e-invoicing under GST

Know more on IRN, Format and process to generate it.

Challenges surrounding e-invoicing
While the government aimed at simplifying the invoice generation process by introducing e-invoicing for businesses, there seem to be some resistance from the B2B business owners. Let’s take a look at some of the challenges which will be faced by taxpayers on the implementation of the new provisions under e-invoicing:

Capturing real time data through an integrated ERP system
Invoice generation is an activity that cannot be pushed to a later stage. As soon as there is a transaction between two parties, the invoice needs to be generated instantly. Since invoice generation is a key process in every business, it is imperative that implementation of e-invoice is done seamlessly. A software or the ERP system that you currently use for your businesses process should be such that it allows you to easily modify the standard invoice generation process as per the recently launched program without having to change your methods.

Sorting B2B and B2C invoices
E-invoicing applies only to B2B invoices and not B2C invoices. B2B requires filing of both E-way bills and e-invoices, whereas B2C invoices only require e-way bills to be generated (wherever applicable).Thus, in case you want to generate an e-way bill for a B2B invoice you would require to filter out B2B invoices from a big stack of invoices. This process in itself is extremely time consuming and will take a lot of effort to sort the invoices.Tracking of invoices
Though the offline tool for generating e-invoices is available

Presenting one last regional language preview of our e-invoicing solution on Monday.

Find the link below 👉

11 AM | http://bit.ly/einv28k | Kannada