What is E-Invoicing?
With the objective of enhanced interoperability and uniform interpretation across the entire Goods and Service Tax (‘GST’) eco-system, electronic invoicing or e-invoicing will be implemented in a phased manner in India, starting 1 October 2020
E-invoicing under GST requires getting all invoices to be registered with the government on the Invoice Registration Portal (‘IRP’) and generating a unique Invoice Reference Number (‘IRN’). Only a registered e-invoice with IRN shall henceforth be a valid invoice.
E-invoicing will bring in a major change in core business processes, demanding a holistic review of current frameworks. With these new changes, businesses would need to reassess their readiness and review technology related changes needed within their IT landscape.
We at BDO in India, offer an end-to-end automated invoice solution to manage e-invoice compliances securely and seamlessly, ensuring minimum changes to current processes while leveraging the right tools needed to comply with new norms.
Key highlights of the solution
- Standard mandatory and optional fields to register invoice and credit/debit note transactions
- Extraction of correct data in specified format from the company’s ERP/ accounting system
- Validation and calculation checks in compliance with the provisions of law
- Generation of IRN and QR code on real-time basis before movement of goods and on the supply of services
- Printing of registered e-invoice with IRN, QR code, company’s logo and other mandated details
- Cancellation/amendment of invoices
- Option to generate applicable e-way bill with e-invoice
BDO India's e-invoicing solution offers
- Impact assessment & solution design to enable automated compliance management for e-invoice, e-way bill and GST returns
- Automation to manage large volumes with secured APIs or SFTP mode for seamless data transfer
- Automating the e-invoice compliance process, in instances where companies have a standardised global ERP system, without changing core IT policies
- SAP Certified GSP solution for SAP customers with API services for e-invoice, e-way bill and GST returns automation
- B2C QR code and printing of B2C invoices can be configured
- Seamless integration for all GST compliances including e-invoice, e-way bill and GST returns - a distinct solution offering
- Reverse integration to provide IRN, QR code & e-way bill details back to the company’s ERP system
- Reconciliation between transactions submitted through e-invoice, e-way bill and GST returns
- Manual generation and download of digitally signed e-invoice with QR code in JSON/CSV/Excel format
- Customising invoice printing after generation of e-invoice in company specific format