All about E-Invoices under GST
The GST Council has approved introduction of ‘E-invoicing’ or ‘electronic invoicing’ in a phased manner for reporting of business to business (B2B) invoices to GST System, starting from 1st January 2020.
Who are liable to prepare e-invoices?
Registered person, whose aggregate turnover in a financial year exceeds five crore rupees, as a class of registered person who shall prepare e-invoice.
Anyone excluded from the e-invoice system?
- Special Economic Unit. (Notification. No. 61/2020-CT, dated. 30.07.2020)
- Insurance company, banking company, financial institution, non-banking financial institution
- Goods transport agency (GTA)
- Passenger transportation service
- Admission to exhibition of cinematographic films in multiplex screens
- A Government department, a local authority (Notification. No.23/2021-CT dated 01.06.2021)
- Persons registered in terms of rule 14 of CGST Rules (OIDAR)
Is there any facility to prepare e-invoices?
The Common Goods and Services Tax Electronic Portal for the purpose of preparation of the invoice notified wide Notification. No. 69/2019-CT dated 13.12.2019:
- www.einvoice1.gst.gov.in;
- www.einvoice2.gst.gov.in;
- www.einvoice3.gst.gov.in;
- www.einvoice4.gst.gov.in;
- www.einvoice5.gst.gov.in;
- www.einvoice6.gst.gov.in;
- www.einvoice7.gst.gov.in;
- www.einvoice8.gst.gov.in;
- www.einvoice9.gst.gov.in;
- www.einvoice10.gst.gov.in
Is there any format of e-invoice?
The invoice shall be prepared in FORM GST INV-01 [ Notified by Notification No. 68/2019-CT dated 13.12.2019] after obtaining an Invoice Reference Number by uploading information contained therein on the Common Goods and Services Tax Electronic Portal.
Quick Response (QR)code
E-invoice issued by a registered person, whose aggregate turnover in a financial year exceeds five hundred crore rupees, to an unregistered person (B2C) shall have QR Code as per Notification No. 14/2020– CT dated 21/3/20.
How to check my GSTN is enabled for e-invoicing?
The taxpayer can check his eligibility of e-Invoicing at Option Search -> ‘e-Invoice Status of Taxpayer’ of the e-Invoice portal [https://einvoice1.gst.gov.in/].
