TMI BlogE-Invoice [ Rule 48 of CGST Rules ]X X X X Extracts X X X X X X X X Extracts X X X X ..... ll (wherever required). Under e-invoicing, business has to report the B2B invoice data only once in the e-invoice form and the same is reported in multiple forms (GSTR-1, e-way bill etc.). E-way bill can be auto-generated using e-invoice data. GSTR-1 can also be auto-populated with the e-invoice data. It will become part of the business p ro c e s s of the taxpayer. there will be a substantial reduction in transcription errors as same data will get reported to tax department as well as to the buyer to prepare his inward supplies (purchase) register. On receipt of information through GST System, buyer can do reconciliation with his Purchase Order. A complete trail of B2B invoices is available with the Departm ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nner specified in the said sub-rule shall not be treated as an invoice. The provisions of sub-rules (1) and (2) of Rules 48 , shall not apply to an e-invoice prepared in the manner specified in rule 48(4). Person liable for issue of e-invoice Every person, whose aggregate turnover in any preceding financial year from 2017-18 onwards the specified amount , shall prepare e-invoice in term of rule 48(4) - in respect of supply of goods or services or both to a registered person, or for export. specified amount - Principal notification NOTIFICATION No. 13/2020 Central Tax (as amended time to time) . More than INR 500 Crores for the period from 01.10.2020 to 31.12.2020. More than ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed 01.06.2021 ] An insurer or a banking company or financial institution, including a non banking financial company, Goods transport agency, Person supplying passengers transportation services , Person supply services by way of admission to exhibition of cinematograph films in multiplex screens , Special economic zone unit. [ CGST Rules N. No. 61/2021 - CT dated 30.07.2020 ] Exemption from mandatory generation of e-invoices in terms of Notification No. 13/2020-Central Tax , dated 21st March, 2020 , as amended, the said exemption from generation of e-invoices is f or the entity as a whole and is not restricted by the nature of supply being made by the said entity. [ Issue no. 3 Circular No. 18 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... /1/2019-20) is assigned by supplier and is internal to business. Its format can differ from business to business and also governed by relevant GST rules. IRN is a uni q u e reference number (hash) generated and returned by IRP, on successful registration of e-invoice. Amendment or cancellation of E-Invoice/IRN Cancellation or deletion:- E-Invoice/IRN can t be partially cancelled. It has to be fully cancelled. once generated cannot be modified or deleted. However, if IRN is generated with wrong information, it can be cancelled. Once cancelled, the same document (with same document number) can t be reported again for generation of IRN. The cancellation is required to be done within 24 hours from the time of generat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... te Quick Response(QR) code as per notification number 14/2020 where such registered person makes a Dynamic Quick Response (QR) code available to the recipient through a digital display, such B2C invoice issued by such registered person containing cross-reference of the payment using a Dynamic Quick Response (QR) code, shall be deemed to be having Quick Response (QR) code. Exemption to supplier from generation of Quick Response Code :- Circular No. 146 / 02 / 2021 -GST has clarified for The exemption Non applicability of QR code in following cases An insurer or a banking company or a financial institution, including a non-banking financial company A goods transport agency Person supplying passenger tra ..... X X X X Extracts X X X X X X X X Extracts X X X X
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