GimBooks is simplifying E-invoices. We enable you to implement an E-invoicing system to handle all your business complexities with ease.

Let us answer some common question that we have been asked by our customer.

What is E-invoicing?

E-invoicing is a system under GST which is generated by the B2B taxpayers and registered with the Government System i.e. Invoice Registration Portal (IRP) and obtain Invoice Reference Number (IRN) and QR code which contains all the details of the invoice.

What are the advantages of E-invoicing?

  1. Invoice Creation
  2. Delivering & Receiving invoice
  3. Claiming Accurate ITC
  4. Reduces cost
  5. Reduction in Human Errors
  6. Track of invoices
  7. High degree of control
  8. One time reporting
  9. Auto-creation of E-way bill
  10. Reduced Fraud and tax evasion
  11. Easy verification by tax authorities

What is the applicability of e-invoicing?

  1. On 1st October 2020, E-invoicing was made applicable to the businesses with turnover exceeding Rs 500 Crores.
  2. On 1st January 2021, E-Invoicing was made applicable to the businesses with Turnover exceeding  Rs 100 Crores.
  3. On 1st April 2021, E-invoicing was made applicable to the businesses with Turnover exceeding Rs 50 Crores.

in the financial year from 2017-2018

What is the e-invoice Schema?

The standard of issuing an e-invoice that lists all the mandatory and optional fields in the e-invoice is called E-invoice Schema.

Mandatory Sections:

  1. Basic Details
  2. Supplier’s information
  3. Recipient’s information
  4. Invoice Item Details
  5. Document Total

How does the GST E-invoice system work?

The supplier generates the e-invoice and uploads it to the invoice Registration portal (IRP). IRP verifies the invoice and generates Invoice Reference Number (IRN) and QR code. The digitally signed e-invoice is sent to the GST System.

How to create e-invoicing under GST?

Here is step by step information on the creation of E-invoice.

Documents required by the GST System to create E-invoice under GST

Mandatory documents required to create E-invoicing in GST

  1. Invoice
  2. Credit Note
  3. Debit Note
  4. Any other documents as required by Law
  5. JSON File as per E-invoice Schema

What are the benefits of  GST E-invoice API Technology?

Through API, the data is sent to Invoice Registration Portal (IRP) and Invoice Reference Number is generated. It enables the taxpayers to enter data only once in ERP and API will automatically transfer the data to the GST System. It provides smooth integration between ERP and e-invoicing systems.

What indicates that the IRP has approved the e-invoice?

When IRP returns the signed JSON along with the QR code, you can consider that the IRP has approved the e-invoice. The QR code contains all the details like GSTIN of the supplier, the invoice number and date, HSN codes of major commodities, IRN. etc.

Can IRNs be generated in Bulk??

Yes, You can generate Invoice Reference Number in Bulk but the invoice approval will be done one at a time. Essentially, bulk upload of invoices is the requirement of large taxpayers only

What is the End-to-End workflow of an e-invoice?

Step 1: The e-invoice is generated on the ERP of the taxpayer

Step 2: Invoice Reference Number is generated

Step 3: JSON file of the e-invoice is uploaded to the Invoice Registration Portal (iRP).

Step 4:The QR code, IRN and signature is added and sent to the TaxPayer.

Step 5: The Invoice Registration Portal will share the data to E-way Bill system and GSTN

Can the IRP reject the submitted e-invoice?

If the GSTIN is wrong the IRP will validate the e-invoice and reject it. If the duplicate invoice or any such errors is found, the invoice will be sent back with relevant error codes.

Are importers required to generate IRNs?

E-invoicing and Invoice Reference Number generation is only applicable to the B2B taxpayers.

What is the process of amendment or cancellation of an e-invoice?

Cancellation can be made within 24 hours post generation and e-invoice reported to the IRP can be amended through GSTN and not permitted through IRP.

GimBooks offer a highly user-friendly platform with all the functionalities needed for your business growth and that is we are India's most trusted E-invoicing Solution.

If you have any more questions, get in touch.