Taxpoint: E-invoice standard finalized after consultation with ICAI

E-invoice standard finalized after consultation with ICAI

• An e invoice standard has been finalized after consultation with trade/industry bodies as well as ICAI Adoption of this new standard ensures complete inter operability of e invoices across the entire GST eco system The new system eliminates the need for fresh data entry, reduction of reconciliation errors and population of invoice details directly into Return through Invoice Reporting Portal ( For more details on ‘e invoice’, https :://www.gstn.org.in/e invoice/

• Accounting and Billing Software Providers can enrol with GSTN to receive regular updates on e invoice

• https :://www.gst.gov.in/newsandupdates/read/354

• Being key players in Indian business eco system, the role and support of Accounting and Billing Software Providers is crucial for successful implementation of GST e invoice System.

E-invoice standard has been finalized after consultation with ICAI

• In the coming months when e invoice implementation takes place, GSTN intends to interact closely with Accounting and Billing Software Providers This is to get suggestions and feedback as well as to keep them abreast of developments on new e invoice framework.

• Accounting and Billing Software Providers can enroll, by providing contact and other details.

• https://einvoice1-trial.nic.in/

• E-invoice APIs in Sandbox has been launched by NIC.

• Bulk e invoice facility in Sandbox has been launched by NIC

• E-Invoicing System for sandbox API interface (for testing) has been released on portal https :://einv-apisandbox.nic.in

• Existing users of e -WayBill system can use their credentials to login New users can register through the registration link in the portal.