PTS E-invoice Integration – Your One-stop SAP Solution for All Your e-invoicing & E- way Bill Needs
We have released a SAP Certified e-invoicing and e-way bill Integration Add-On that allows companies to automatically report e-invoice and generate e-Way bills to the government portal and file GST returns.
This add-ons creates data in accordance with the Goods and Services Tax (GST) Council’s regulations. As a result, needless paperwork, manual labour, bugs, and delays are eliminated.
Is your business ready to move to e-invoicing by August 1, 2023?
From 1st August 2023, e-Invoicing will be mandatory for businesses with an aggregated turnover of more than INR 5 crore.
New Updates on E-Invoicing
10th May 2023,
CBIC extended e-invoicing to taxpayers whose turnover is more than Rs 5 crore in any financial year from 2017-18. As a result, these taxpayers must issue e-invoices starting from 1st August 2023.
On 6th May 2023
The GST department deferred the time limit of reporting old e-invoices on the e-invoice IRP portals by three months, but the new implementation date is yet to be announced.
13th April 2023
The GSTN released an advisory stating that taxpayers with an annual turnover of Rs. 100 crore and above must report tax invoices and credit-debit notes to the IRP within 7 days from the date of issue of the invoice/CDN starting from 1st May 2023
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HERE'S HOW YOUR e-INVOICE WILL LOOK
BENEFITS OF E-Invoice
One click to generate IRN
Improves payment cycles
Improves overall business efficiency
Reduces processing costs & time
Eliminates data re-entry and reconciliation errors
Reduces disputes among transacting parties
Digitization, Standardization, Interoperability and Paperless mode in invoice communication
Easy-to-Use System Applications to Generate e-Invoice in Seconds
In order to meet taxpayer needs, multiple modes are available to them:
Let's get you started with E-invoicing to digitally transform your business.
With significant experience in managing global projects and ERP life cycle implementations, PTS Systems and Solutions is one of the leading e-Invoicing and e-Way bill system provider companies. We provide expert SAP ERP Implementation services that can be dynamically delivered across the globe. You also get easy access to our comprehensive ERP Add-Ons or Upgrades.
- Taxpayers will continue to create their GST invoices on their own ERP Systems
- These invoices will now be reported to ‘Invoice Registration Portal (IRP)’
- IRP returns signed e-invoice with a unique ‘Invoice Reference Number (IRN)’ along with a QR Code.
- Then, the invoice can be issued to the receiver (with QR Code).
- A GST invoice will be valid only with a valid IRN
How e-Invoicing under GST works
E-invoicing webinar 2022
Don’t miss out on our exclusive webinar where we delve into the fascinating world of GST e-Invoicing and its profound impact on businesses with turnovers exceeding 20 CR. Whether you’re a business owner or a finance professional, this webinar is a must-watch if you’re seeking to navigate the complexities of e-Invoicing under the GST regime. Join us for an enlightening session and gain valuable insights. Hit the play button now and expand your knowledge!
Serving over 100+ happy customers with seamless e-invoicing compliance.
E-Invoicing Solution, also known as electronic invoicing, has become a necessity. In other word a tool for eliminating tax evasion and data duplication by digitizingdigitising the entire invoicing period. Any invoice posted on the Governmental portal will be subject to GSTN approval under e-invoicing.
EWay Bill is an Electronic Way Bill that is generated on the e-Way Bill Portal for the movement of goods. A GST registered person may not transport goods in a vehicle with a value greater than Rs. 50,000 (Single Invoice/bill/delivery challan) without an e-way bill generated on ewaybillgst.gov.in.
Is e-invoicing applicable for invoices between different GSTINs under the same PAN (such as between branches of the same company located in different states)?
There is no exception for such unique persons with different GSTINs but the same PAN when it comes to e-invoicing.
SEZ developers are not exempt from E-invoicing because the exclusion only applies to SEZ units, hence they must follow the e-invoicing method. Whether this was a prima facie legal error or not may be a question for the government, as could whether the aim was limited to SEZ units or the entire SEZ.
If an invoice is issued to the recipient, e-invoicing is applicable to all supplies, including exports and exempt supplies.
Financial/commercial credit notes without GST are not required to be reported in e-invoicing, only credits and debits issued under Section 34 of CGST/SGST Act need to be reported.
In conculsion when providing a Quick Response (QR) code with an embedded IRN, it is advisable to keep IRN in one’s ERP.
Yes, a QR code is required, and it will be embedded with IRN. Furthermore, such QR code is distinct from B2C QR codes, as B2C QR codes allow customers to pay directly to a supplier’s account via electronic means [e.g., UPI QR code].
The IRP cannot be amended or changed once it is raised.A taxpayer can cancel the GSTR-1 within 24 hours, but if it has been lapsed for over 24 hours then the taxpayer has no other option and needs to go ahead with it. Furthermore, taxpayers can amend the GSTR-1 in the GST portalSuch above situation would result in differences between GST portal and IRP and the same would be flagged and reported to the concerned jurisdictional officer, who would thereafter provide justification on reasonable grounds.
In case of Maharashtra, e-way bill for intra-State movement of goods is not required if value is less than Rs.one lakh. Maharashtra (for movement of Hank, Yarn, Fabric, and Garments for job work, e-way bills are not required irrespective of value – Notification No. 15E/2018-State Tax, dated 29-6-2018).
Within 24 hours of the IRN being generated, an E-Invoice can be cancelled on the IRP. This is primarily due to the IRP servers’ policy of not storing e-Invoices for more than 24 hours. However, if an e-Way Bill for the IRN has already been generated, it cannot be cancelled.