Effortlessly generate e-invoices with Cevious technologies, offering a complete and comprehensive solution for all your e-invoicing needs. Say goodbye to problems and embrace a seamless invoicing experience.
As per official sources, e-invoicing has been made mandatory for taxpayers with an annual turnover exceeding Rs. 500 crore starting from October 1, 2020. From January 1, 2021, this requirement extends to taxpayers with an annual turnover surpassing Rs. 100 crore. Finally, effective April 1, 2021, e-invoicing becomes mandatory for all taxpayers engaging in business-to-business (B2B) transactions. Stay compliant with these regulations using the information provided by official sources.
What is E Invoice?
E-Invoicing revolutionizes traditional manual processes by enabling the uploading of all B2B transactions, including sales, credit notes, and debit notes, onto the Invoice Registration Portal (IRP) for authentication purposes. Once authenticated, the IRP issues a unique Invoice Reference Number (IRN) for each invoice. To be considered valid, the IRN must be converted into a QR code and printed on the invoice alongside other relevant information. This electronic invoice, or e-invoice, serves as a digitally exchanged document between suppliers and buyers, validated through the government’s fiscal portal.
By replacing manual functions with automated business rules and processes, e-invoicing enhances operational efficiency, reduces errors, and ensures compliance with electronic document regulations.