E-invoice solution 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.
inoday E-invoice Solution
Features of the inoday E-invoice Solution
- It is non-disruptive and automated. It delivers the flexibility to register e-invoice on demand basis. Users are no longer required to use other transactions or reports to generate the e-invoice.
- Our E Invoice Portal comes with in-built validations for all mandated master data and transaction data. This helps ensure error-free with submission of e-invoice payload to the IRP.
- It readily processes response 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.
- Our E Invoice System 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 this solution, E Invoice Solution GST, deployed independently for each individual mandate as well.
How inoday’s E-invoice Solution Simplifies E-invoicing?
- A Simple and Quick Solution— inoday, E Invoicing Software Provider India, is a recognized GST Provider. This means your invoices are directly uploaded to the IRP without relying on another GSP.
- Smart Data Validation— inoday E Invoice System preemptively validates your data. This readily helps identify violations, incorrect or error-prone data entry, and missing mandatory fields.
- Recurring E-invoices— You can make the best of our E Invoice Portal to set your e-invoices on recurring mode. This would help you can auto charge your customers, upload it to the IRP, and send them automatically.
- Multiple GSTINs— Thrive with complete visibility on the transactions taking place across all your branches with multiple GSTIN support from our E Invoice Solution for GST in India.
- REST APIs— Under the aegis of a E Invoicing Software Provider for GST like inoday, you can connect to the IRP and push e-invoices directly with powerful REST APIs.
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.
Transactions and Documents Criteria
| 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.
How Does inoday E-invoice solution Helps?
inoday, a recognized E Invoicing Software Provider for GST, has curated an e-invoicing solution or E Invoice System that 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 info@inoday.com Or Schedule A Demo