update from CBIC twitter handle
Tag Archives: e-invoicing
Update from GST portal
Update on auto-population of e-invoice details into GSTR-1
- Certain notified taxpayers have been preparing and issuing invoices by obtaining Invoice Reference Number (IRN) from Invoice Registration Portal (IRP) (commonly referred as ‘e-invoices’). Details from such e-invoices are be auto-populated in respective tables of GSTR-1.
- Due to some unanticipated issues, there has been delay in auto-population of e-invoice details into GSTR-1.
- The auto-population of e-invoice details pertaining to the period December, 2020 into GSTR-1 (in incremental manner on T+2 day basis) will start in the first week of December.
- The details of e-invoices pertaining to periods of October and November, 2020, would be processed and made available in incremental manner from 13th December 2020 onwards. The processing and availability of complete data for the months of October and November, 2020 may take upto 2 weeks.
- The detailed advisory with methodology of auto-population etc. is already made available on the GSTR-1 dashboard (‘e-invoice advisory’) and also e-mailed to relevant taxpayers.
- It may also be noted that the auto-population of details from e-invoices into GSTR-1 is only a facility for the taxpayers. After viewing the auto-populated data, the taxpayer shall verify the propriety and accuracy of the amounts and other data in each field, especially from the perspective of GSTR-1 and file the same, in the light of relevant legal provisions.
- Once the auto-population into GSTR-1 gets started, the taxpayers are requested to verify the documents present in the excel and may share feedback on GST Self Service Portal, on below aspects:
- All documents reported to IRP are present in excel
- Status of each e-invoice/IRN is correct
- All the details of document are populated correctly
Update from GST portal
update on GST portal
e-invoicing – Relaxation and latest changes
1.‘e-invoicing’ for certain classes of taxpayers has come into effect from 1-10-2020.
2.Keeping in view the hardships faced by the taxpayers due to COVID-19 lockdown and as some of these taxpayers are still not ready, as a last chance, Government had given relaxation that invoices raised by notified taxpayers during October, 2020 without following e-invoice procedure (i.e. uploading invoice details on e-invoice portal (IRP), obtaining IRN and issuing invoice with QR Code) will be deemed to be valid and no penalty will be there if the IRN for such invoices is obtained within 30 days of date of invoice.
3.Further, vide notifications (Central Tax) 70/2020 and 72/2020 dated 30-9-2020, certain amendments and additions were made in respect of e-invoicing. Below is the summary of amendments:
- Regarding aggregate turnover threshold, it was specified that those who crossed Rs. 500 Cr. in any preceding financial year from 2017-18 onwards, will be covered.
- Supplies for ‘exports’ are also specifically included under e-invoicing.
- QR code, having the Invoice Reference Number (IRN) to be part of invoice copy issued to buyer.
- In case of any contingency, Commissioner can exempt a person or a class of registered persons from e-invoicing for a specified period.
- Where e-invoicing is applicable, physical copy of invoice need not be carried (during movement of goods) and it is sufficient if the QR code having IRN is produced electronically, for verification by proper officer.
CBIC has issued FAQs on e-invoicing system that it is planning to introduce from 1st October, 2020 onwards. Businesses with turnover of Rs.500 crores and above will generate all invoices on centralised government portal. The e-invoicing will be aimed at curbing fake invoicing. It will cut down errors on the system and make filing simpler and smoother.
It will actually be useful for the MSME sector, because what happens today in India is that there is no payment culture at all. Companies pay at their whims and fancies, and many a times, they do not even book the invoices in their system for months together. If by this e-invoicing system, MSME suppliers are able to record their invoices on the portal, then companies will not be able to escape their liability. That is my view. But right now only large companies with turnover above Rs.500 crores are required to upload their invoices on the portal.
The FAQs on e-invoicing is available at this link i.e.