What You Need to Know to Understand the Time Limit for Reporting e-Invoices
An e-invoice is a digital document used to record a commercial transaction. These documents eliminate the need for paper invoices thus considered more efficient and secure. The GST eInvoice system recently introduced a time limit for reporting invoices on eInvoice portals. A time limit of 30 days has been imposed for reporting of invoices on […]
What Has Changed for Businesses with New GST Rules?
With amendments to the Goods and Services Tax (GST) Act, on August 1, businesses with an annual turnover of 5 crores need to issue an e-invoice. The change applies to businesses that reported an annual turnover exceeding Rs. 5 crores in any preceding fiscal from FY18. The notification to lower the revenue threshold was released […]
3 Great Tools to Facilitate the Generation and Verification of E-Invoices
e-invoicing aims to enhance transparency in financial transactions and streamline tax compliance. eInvoice applicability depends on the annual turnover of the business which needs to be electronically uploaded to the portal in the required format. To support businesses with e-invoicing requirements, various tools have emerged that make e-invoice generation and verification seamless. Here’re some of […]
How Can E-Invoicing Benefit Your Business by Reducing Errors?
Eliminating errors in financial operations is crucial for the success of any business. In this regard, e-invoicing has emerged as an effective solution for businesses to automate business processes and reduce errors to enhance overall financial management. E-invoicing can benefit a business in several ways. It helps businesses reduce manual efforts and improve compliance. And […]
E-invoices Latest News : E-invoice to be Applicable for Businesses with Rs. 5 Crore and Above Turnover
E-invoice Latest News – The Central Board of Indirect Taxes (CBIC) has announced on May 10, 2023, as an amendment to Notification No. 13/2020 to reduce the eInvoicing turnover limit to Rs. 5 crores, to be implemented w.e.f. August 1, 2023. This means eInvoice generation will be mandatory for taxpayers with an annual turnover exceeding […]
5 Steps to eInvoice Free Implementation and Get Started to Use It
We have an exciting announcement. We are starting to roll out eInvoice Free to all our customers. This new functionality is designed to help you save time and money by sending invoices quickly, easily, and securely. Here are 5 steps for eInvoice free implementation: Prepare for eInvoice Free implementation Make sure you have the right […]
What to Know About GST eInvoice – Benefits, eInvoice Format, and More
Indian central government implemented GST Act in 2017 to reduce the burden on taxpayers and enhance system transparency. With this in mind, TaxPro is encouraging businesses to adopt an eInvoicing system to generate and authenticate documents on GST Invoice Registration Portal (IRP). Traditionally invoices involved labor-intensive and error-prone manual procedures. Managing invoices electronically allows organizations […]
How to Generate eInvoice in GST Portal – 6 Steps to Follow
The concept of eInvoicing was officially approved by the GST council to alleviate the pain of taxpayers and concerned authorities. It is to be implemented for businesses of 20 crores or above in effect from April 2022. It was primarily designed with two key aspects – the adoption of invoice standards to enable swift data […]
How to Register API for eInvoice? – Understand eInvoicing API Integration Process
Small businesses can quickly generate eInvoices manually from Invoice Registration Portal (IRP). However, for medium and large-size businesses, it can be time-consuming to understand how to generate eInvoice on the IRP portal due to a large number of B2B transactions. Therefore, the government has allowed direct API integration-based eInvoicing under GST. It is viable for […]
How to Generate eInvoice from ERP Software – Everything You Should Know
eInvoicing is a new invoicing concept where invoices are generated and validated by GSTN digitally for further use in the GST portal. It assigns a unique identification number against every invoice through the Invoice Registration Portal (IRP), managed by GST Network (GSTN). Now you can generate eInvoices seamlessly with TaxPro GSP Works with any ERP […]
