E-Invoice Schema Format – Mandatory Fields
Table of Contents
E-Invoice Schema Format – Mandatory Fields
- On 30th July 2020, the Central Board of Indirect Taxes and Customs (CBIC) released a notification and introduced the “Schema for E-Invoice” for imposing the e-invoicing.
- It will be implemented from 01st October 2020, only for entities whose business has an annual turn over of ₹500 Cr.
What is E-Invoicing?
- E-Invoicing or Electronic Invoicing is a system in which B2B invoices are electronically sent to other parties by GSTIN.
- Under the e-invoicing system, an identification number will be issued against every invoice by the Invoice Registration
Portal (IRP) to be managed by the GST network(GSTIN). - All the information will be transferred from this portal to both the GST portal and the e-way bill portal.
- The registration is required because through the registration IRN no should be given to the person.
- A tax invoice will not be considered valid if IRN is not mentioned on it, as IRN no is mandatory.
- The Invoice Registration Portal will generate IRN no and send it back to the taxpayer, who print this no on his tax invoice.
Related Topic:
E-invoicing in India!
Persons who are exempted from E-Invoice
- Special Economic Zones, (SEZ)
- The insurer, Banking Co., any Financial Institution, and Non-Banking Financial Institution.
- Goods Transport Agency
- Passenger Transportation Services.
Supply Type Code
- B2B:- Business to Business
- B2C:- Business to Customer
- SEZWP:- to SEZ with payment
- SEZWOP:– to SEZ without payment
- EXPWP:- Export with Payment
- EXPWOP:- Export without Payment
- DEXP:- Deemed Export
Document Type Code
- INV:- for Invoice,
- CRN:- for Credit Note,
- DBN:- for Debit Note
Mandatory Fields
1. In Documents
- Document No. should be required.
- Document Date should be in “DD/MM/YYYY” this format.
2. Suppliers Information
- Suppliers Legal name as per PAN Card.
- GSTIN of the Supplier.
- Suppliers address and place
- Suppliers State Code and Pin Code.
3. Recipients Information
- Recipient Legal name as per PAN Card.
- GSTIN of Recipient.
- Place of Supply (State Code).
- Recipients address.
- Recipients place and State Code.
- Invoice item details
- Item list
- Documents Total.
- These are the general details that are mandatory to file on E-invoice.
- The Total Taxable Value should be in INR.
- If all the details should be correct, the NIC portal will validate and provide IRN no to the taxpayer.
- Otherwise, NIC will give an error message.
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