Why is it Necessary for Businesses to Keep Up with eInvoice Latest News in India?
In recent years, the digital transformation of businesses has brought enormous changes to various facets of operations. In particular, the introduction of electronic invoicing, or eInvoice, has revolutionized the way organizations handle their invoices. Interact with the government and stakeholders. As India is progressing towards a more digital economy. Staying updated with the latest news […]
What are the Key Challenges with the eInvoicing System?
Implementation of eInvoicing system was authorized by the GST Council in September 2019. As a result, the new compliance reform made its entry in India after successful implementation in over 100 countries globally. The primary purpose of this reform is to make the tax return process easy. But the reform does come with its share […]
E-Invoice Verifiers App: Everything You Need to Know
GSTN recently introduced its user-friendly eInvoice verifier app for efficiently verifying invoices and ensuring a seamless experience for users. The app validates the authenticity of the eInvoice based on the QR code. Users can scan QR codes on their invoices to authenticate the information and compare it with details on the printed invoice. Let us […]
10 Smart eInvoicing Software Features that Ensure Compliance and Efficiency
The government has already made eInvoicing mandatory for businesses with a turnover of 5 crore. eInvoicing was first mandated in October 2020 for businesses with a turnover of 500 crores. It was gradually made mandatory for businesses having a turnover exceeding 100 crores in January 2021 and for businesses exceeding a turnover of 50 crores […]
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 […]
