inoday E-invoice Solution

E-invoice or an electronic invoicing solution is orchestrated to streamline invoice management and simplify working for invoice and compliance documents. For the most part, e-invoice or electronic invoice reduces the risk of errors and exceptions by digitizing invoice data and synchronizing it with contracts, purchase orders, service entry sheets, and goods receipts.

Features of the inoday E-invoice Solution

  • For the most part, it is non-disruptive and automated. It delivers the flexibility to register e-invoice or tax invoice on a demand basis. Users are no longer required to use other transactions or reports to generate the e-invoice.
  • It comes with in-built validations for all mandated master data and transaction data. This helps ensure error-free submission of e-invoice payload to the IRP.
  • It readily processes responses from IRP. Also, you can use it to process the IRN, QR code, digitally signed invoice, audit trail, and reconciliation with the other GSTN mandates.
  • It delivers a unified user experience and provides document synchronization across all the 3 GSTN mandates. These are E-Invoice, GST Reporting, and eWay bill.
  • You can get the solution, online invoice generator, or online bill generator deployed independently for each individual mandate as well.

    NetSuite E-invoicing Integration

    Integration of NetSuite Invoices, Credit notes with the GST portal for E-invoicing based on registration type like Regular, SEZ ,and Export (With and Without LUT). You can make the best of E-invoicing integration to improve customer shopping experience and deliver satisfactory services.

    E-invoicing under GST

    e-Invoicing under GST stands for electronic invoicing defined by the GST law. As GST-registered businesses use an e-way bill for transporting goods from one place to another, certain notified GST-registered businesses must generate e invoice for Business-to-Business (B2B) transactions.

    e-Invoicing does not imply generating invoices on the GST portal but it means submitting an already generated standard invoice on a common e-invoice portal, abiding by the Govet-regulated and standard invoice format. Thus, it automates multi-purpose reporting with a one-time input of invoice details. The CBIC notified a set of common portals to prepare e invoice via Notification No.69/2019 – Central Tax.

    Under the e-invoicing system, an identification number will be issued against every invoice by the Invoice Registration Portal (IRP), managed by the GST Network (GSTN). All invoice data is transferred from this portal to both the GST portal and the e-way bill portal in real-time. Therefore, it readily eliminates the need for manual data entry while filing GSTR-1 returns and generation of part-A of the e-way bills, as the information is passed directly by the IRP to the GST portal.

    E-invoicing under GST

    Transactions and documents criteria

    The following transactions and documents listed below fall under e invoicing applicability –

    Documents Transactions
    Tax invoices, credit notes and debit notes under Section 34 of the CGST Act Taxable Business-to-Business sale of goods or services, Business-to-government sale of goods or services, exports, deemed exports, supplies to SEZ (with or without tax payment), stock transfers or supply of services to distinct persons, SEZ developers, and supplies under reverse charge covered by Section 9(3) of the CGST Act.

    Benefits of E-Invoicing to Businesses

    Businesses can grab the following benefits by using e-invoice initiated by GSTN

    e-Invoice resolves and bridges a major gap in data reconciliation under GST to reduce mismatch errors.
    e-Invoices created on one software can be read by another. It allows interoperability and helps reduce data entry errors.
    Real-time tracking of invoices prepared by the supplier.
    Faster availability of genuine input tax credit.
    Reduced possibility of audits or surveys by the tax authorities since the data they require is available at a transaction level.
    Quick and easy access to formal credit routes such as invoice discounting or financing.

    How Can E-invoicing Curb Tax Evasion?

    Tax authorities can have access to transactions as they take place in real-time and the e-invoice is compulsorily generated through the GST portal.
    As the invoice gets generated before carrying out a transaction, there is less scope for manipulating invoices.
    It readily reduces the chances of fake GST invoices, and only genuine input tax credit can be claimed as all invoices required to be generated through the GST portal.
    E-invoicing Curb Tax Evasion

    How Does inoday e-invoicing Solution Helps?

    inoday e-invoicing solution delivers the best-in-class e-invoicing solution for businesses. We deliver a scalable and adaptable solution with an e-Invoicing Tally Connector. This enables taxpayers to perform e-invoicing activities without leaving a tally screen. Additionally, we ensure a safe migration to an upgraded UI with no changes to your historical data.

    For more details, write to us at Or Schedule A Demo