E-invoice System – Highlights: NIC

E-invoice System – Highlights

About the National Informatics Centre

• National Informatics Centre (NIC) is a government organisation under the Ministry of Electronics and IT, GoI

• NIC’s focus is on Citizen-Centric Services

• NIC is providing the state-of-art technology solution to the e-governance projects of the state and centre governments

• NIC has NICNET, Wide Area Network covering the PAN India

• NIC projects for tax departments

→ Customs

→ VAT, PT, Sales Tax, etc.

→ E-way Bill Project under GST

→ Now, E-Invoicing System

E-Way Bill Project

• E-Way Bill is for movement of goods, having value more than Rs. 50,000, from one place to another

• E-way Bill Project under GST started for PAN India from April 2018

• Daily, on Average 22 Lakh E-Way Bills are generated on the portal

• More than 12 lakh taxpayers are using every month on this portal to generate e-Way Bill

• As of now, more than 130 Crores E-Way Bills are generated in the last 28 months

• E-Way Bill is linked with E-Invoicing System

What & Why of E-Invoice

• It is the process of registration of generated invoice on a Government notified portal

• Unique Invoice Reference Number (IRN) obtained as a result of registration

• Signed Invoice, signed by the Invoice Registration (IRP) Portal

• Verifiable Authencity and Integrity of content

• Standardized, Interoperable and Digitized Invoices

• Integrated E-Invoice and E Way Bill operations

• Incremental filing of GSTR1

• Part of existing business processes

Related Topic:
E-invoicing in India!

Eligibility

• The business entities having > 500 Cr. turn over in a financial year have to register the Invoices from 1st October 2020

• Turnover considered for the PAN – Aggregate of all GSTINs based on the same PAN

• Exemptions 

→ SEZ Units, and others as per notifications

• Invoices of all B2B and Exports transactions to be registered

E-Invoice Related Points

IRN Generators

-SUPPLIER / SELLER

-E-COM. OPERATOR

Types of Documents

-INVOICE

-CREDIT NOTE

-DEBIT NOTE

Types of Transactions

-B2B including B2G

-Export all types

QR Code

• GSTIN of supplier

• GSTIN of Recipient

• Invoice number as given by Supplier

• Date of the generation of invoice

• Invoice value (taxable value and gross tax)

• Number of line items.

• HSN Code of the main item (the line item having the highest taxable value)

• Unique Invoice Reference Number (hash)

Mandatory to print QR code on Invoice

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