Article Dated 1st April, 2020

SALIENT FEATURES OF E-INVOICE

By Sh. Rajesh K. Arora,
SUPERINTENDENT (Retd.), CUSTOMS, GST & C.EX

A: INTRODUCTION

a. Generation of invoice in a standard format, so that invoice generated on one system can be read by another system; and

b. Reporting of e-invoice to a central system.

B: RELEVANT NOTIFICATIONS:-

“(4) The invoice shall be prepared by such class of registered persons as may be notified by the Government, on the recommendations of the Council, by including such particulars contained in FORM GST INV-01 after obtaining an Invoice Reference Number by uploading information contained therein on the Common Goods and Services Tax Electronic Portal in such manner and subject to such conditions and restrictions as may be specified in the notification.

(5) Every invoice issued by a person to whom sub-rule (4) applies in any manner other than the manner specified in the said sub-rule shall not be treated as an invoice.

(6) The provisions of sub-rules (1) and (2) shall not apply to an invoice prepared in the manner specified in sub-rule (4).”.

b. API based;
c. SMS based;
d; mobile App based;
e. offline tool based; and
f. GSP based.

C: PROCEDURE OF E-INVOICING

The QR code will contain vital parameters of the e-invoice.

a. Supplier’s GSTIN;
b. Supplier’s Invoice Number;
c. Financial Year (YYYY-YY).

D: BENEFITS OF E-INVOICE SYSTEM