Home Business Government Locks The Launch Date For New GST E-Invoice, Trial Version Released

Government Locks The Launch Date For New GST E-Invoice, Trial Version Released

The new GST e-invoice to come into effect since October 1.

What is GST e-invoice?

GST e-invoice is a digital bill generated by the Government’s GST portal. It applies to goods and services provided by the business firm. The concept is taken into consideration for the reduction in GST evasion. Businesses that fulfil the GST filing criteria must generate e-invoice for every sale on the government GST portal.

The 39th GST Council meeting has decided to implement the GST e-invoicing of bills under the GST scheme and implementation of QR codes in the view of the current coronavirus pandemic.

The Government has recently notified the new GST Scheme, which will come into effect starting October 1. According to the new scheme, the businesses that fall under the turnover of Rs 500 crore and above, will generate all invoices on the centralised portal. Earlier, the turnover limit for businesses was set at Rs 100 crore.

GST E-invoice with Business Turnover Conditions:
  • The e-invoicing will go live on October 1 for companies having turnover more than 500 crores.
  • Tries to exempt specific class of registered persons capturing dynamic QR code and the date for implementation of QR Code to be extended to 01.10.2020. Read Notification
  • Seeks to exempt specific class of registered persons from issuing e-invoices and the date for implementation of e-invoicing extended to 01.10.2020. Read Notification
  • A supplier whose aggregate turnover in a financial year exceeds 500 crore rupees, to an unregistered person (Business to Consumer Invoice), shall have quick response (QR) code.
Trial Version Released

The Government has finally launched the GST e-invoicing trial version, which was discussed in the GST council meeting 2020. The GST invoicing system will provide various categories under which the taxpayer can fill the e-invoice as per the turnover and other criteria. 


Creating an invoice is the same as generating any other bill. 

An identification number will be issued against every invoice by the Invoice Recognition Portal (IRP) which will be managed by the GST Network (GSTN).

At present, the e-way bill is created only for those moving goods, which cost more than Rs 50,000.

Although GST e-invoice will replace the e-way system, a centralized government portal will only authorize the invoices and hence the movement of goods.

How will E-invoicing benefit businesses?

Businesses will have the following benefits by using e-invoice initiated by GSTN:

  • E-invoice fixes and plugs a significant gap in data reconciliation under GST to reduce inconsistency.
  • E-invoices created on one software can be read by another, providing interoperability and also reduce data entry errors.
  • Real-time tracking of invoices developed by the supplier is enabled by e-invoice.
  • Backward integration and automation of the tax return filing process – the invoices’ relevant details would be auto-populated in the many returns, especially for producing the part-A of e-way bills.
  • Faster availability of valid input tax credit.
  • Lesser chance of audits/surveys by the tax authorities since the data they require is accessible at a transaction level.

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What documents are required while reporting in IRP?

You can find below the list of articles needed for invoicing:
Supplier Side Invoices
Supplier's Credit notes
Recipient Debit Notes
Other Documents if Required

Can the GST invoice be revised?

There is no concept of revision of returns under the GST regime. However, you can change the invoice through a supplementary invoice or debit or credit notes.

Can we raise the invoice without the GST number?

You can issue an invoice for the supply of goods or services without mentioning GSTIN and ARN. Such a person is required to reflect this supply in GSTR 1 and pays tax thereon.

Can I cancel the invoice in GST?

If you have canceled the deal in the same month and before filing GST return GSTR 1 or GSTR 3B, then you can cancel the invoice but keep the canceled invoice on record.

How do I enable e invoice in GST?

The taxpayer would do the generation of e-Invoice. Once it is generated, it would be reported to the Invoice Registration Portal (IRP) of GST. The IRP will also create a unique Invoice Reference Number (IRN) and digitally sign the e-Invoice.

Shivani Mittalhttps://www.the-electronics.com/
Shivani Mittal pens down all the prominent business decisions and news. She is a passionate reader and on any other off day, she finds herself immersed in adventurous activities like Trekking and Rock climbing.


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