COPYRIGHT BALWINDER ASSOCIATES APPLICABILITY 2 APPLICABILITY October 2020

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APPLICABILITY 2

APPLICABILITY October 2020 January 2021 March 2021 E-invoicing started for taxpayers with aggregate turnover above 500 Cr. Go live for E-invoice for taxpayers above 100 Cr. turnover Now notified e-invoice for taxpayer with 50 Cr. Turnover w. e. f 1 st April 2021. 3

After following ‘e-invoicing’ process, the invoice copy (with QR Code containing inter alia, IRN) issued by the notified supplier to buyer is commonly referred to as ‘e-invoice’

Once a taxpayer uploads their software The invoice data will be uploaded on the generated invoice to the Invoice The IRP will also generate a QR code IRP (Invoice Registration Portal), which Registration Portal, a unique invoice will also generate the hash in order to containing the unique IRN (hash) reference number is generated by the verify it and then digitally sign it with the system. This unique IRN will be based on private key of the IRP. In case the computation of the hash of the taxpayer submits hash also along with GSTIN mentioned on the document invoice data, the same will be validated on the central portal as well as by an (invoice or credit note etc. ), the year and by IRN system. Offline App. the document/invoice number. along with some important parameters of invoice and digital signature so that it can be verified

Turnover > 500 Cr. Turnover > 100 Cr. Turnover > 50 Cr. • B 2 B / EXPORT IRN to be generated and invoice digitally signed by Govt. (IRP) • B 2 C Self-generated QR Code on invoices (Optional)

Flow Chart Supplier E-way bill Invoice Details --------------- IRP Registered Invoice For handling movement of goods & Other actions ------- INR + Ack No. + Ack. Date + Status Signed QR Code + Signed Invoice Data sync Invoice number can be max 16 digits Near real time IRP Taxpayer > 50 Cr. GSTR 1 of Supplier Auto-populated EWB Details ( If generated) Registered Customer -----------------------------------GSTR 2 A and GSTR 2 B of Purchaser Note : Invoices can be amended within 24 hours… after 24 hour no invoice can be amended

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Step 1: Enter GST Number and Captcha Step 2: Get the OTP authenticated Step 3: Enter the turnover with related financial year Step 4 : And Submit Note : Users who are already registered on the e-way bill portal need not to again register on the e-invoice system. User can use EWB login credentials to login at e-invoice system.

Invoice Details: Document number, date and type (Invoice / Credit note / Debit note) Required fields for generation of IRN Invoice Supply Details: Type of Supply (B 2 B/SEZ/Export) Notification No. 60/2020 – Central Tax on 30. 07. 2020 • Buyer & Supplier Details: GSTIN, Legal Name, Address, State, Pincode, Contact details taxable Value, discount other charges, tax amount at tax invoice level, invoice value 12 Sections (mandatory + optional) & 6 • Out of the 12 Sections – 5 are Mandatory • Name, Address, State, Pincode and 7 are Optional. Two Export Details (Optional): Shipping bill no, Date, Port Date, export duty, Additional currency The 5 Mandatory sections are Basic Details, Supplier Information, Recipient Information, Invoice Item Details, Document Total. The two mandatory annexures are details of the items and document total. Ship to Details: Name, Address, State, Pincode Payee Name, Bank Account number, mode of payment , credit days, outstanding payment due Annexures consisting of total 138 fields annexures are mandatory. Dispatch From: Payment details(Optional): Item details: HSN, description, quantity, price per unit, Taxable value, tax rate and amounts Transport details (Optional): Distance, transport mode, transporter ID, vehicle number and type in transport Other details (Optional): Additional document details like URL for supporting documents

E-invoice Samples ! Sample QR code

Advantages of the e-invoicing system

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