1.
e-Invoicing under GST
Everything you need to know
Speakers
Webinar
Lokesh Malhotra
Lead Product Manager, Open
CA Kunal Gandhi
Finance Controller, Open

2.
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4.
✅ e-Invoicing under GST - Introduction and Timelines
✅ How to create e-Invoices, Standard format, Schema, etc.
✅ Debunking common myths around e-Invoicing
✅ Benefits of e-Invoicing for businesses
✅ Demo on Generating e-Invoices using Open
4
Webinar Agenda

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e-Invoicing under GST: Introduction
● Process to make invoices more authentic and
compliant for tax return filing purposes
● Facilitates exchange of invoices between suppliers and
buyers in a structured electronic format
● GST-registered businesses must generate e-Invoice for
Business-to-Business (B2B) transactions
● e-Invoice consists of invoice data in a more structured
visual presentation

6.
Phase: II
Date: 01/01/2021
Phase: IV
Date: 01/04/2022
e-Invoicing under GST: Timelines
6
Phase: I
Applicable Date: 01/10/2020
Turnover
500 Cr+
Turnover
100 Cr+
Phase: III
Date: 01/04/2021
Turnover
50 Cr+
Turnover
20 Cr+
Phase: V
Date: 01/10/2022
Turnover
10 Cr+

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How to create e-Invoices
Before
After
How to create e-Invoices
Before
After
SUPPLIER BUYER
NOTIFIED PORTAL
SUPPLIER BUYER
I
N
V
O
I
C
E
J
S
O
N
(
I
N
V
-
0
1
)
S
I
G
N
E
D
I
N
V
O
I
C
E
J
S
O
N
W
I
T
H
I
R
N
/
Q
R
C
O
D
E
Issues ‘e-Invoice’
(Invoice copy with IRN/QR Code)
Issues Invoice

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Important points to note
● Taxpayers will continue to create GST
invoices on their own
Accounting/Billing/ERP systems
● QR code is one of the mandatory
particulars to be mentioned on the
invoice
● GST Invoice is considered valid only with
a valid IRN

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Schema & Standard Format
● Schema is the standard format for electronic
invoice (INV-01)
● Has all the elements of a commercial invoice
● Ensures e-Invoice is machine-readable and
inter-operable
● No provision to mention tax collected at
source (TCS) in Schema
● It is only to report specified invoice
particulars to IRP

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e-Invoicing process in a Snapshot
Supplier IRP GST System Buyer

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Debunking Common e-Invoice Myths
● e-Invoice is not the soft
copy of an invoice!
● Does not mean
generation of invoice by
a Government portal
● e-Invoicing is applicable
for supplies to registered
persons (B2B) only
● Enablement status does
not mean legal binding
for e-Invoicing

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Benefits of e-Invoicing for Businesses
Reduction of
recollection issues
Important
payment cycle
Standardization inter
compatibility
Better internal
control
Reduction of
disputes in costs
Auto population of
return in e invoice
E Invoice

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Few more Benefits of e-Invoicing…
● Elimination of fake invoices and fraudulent ITC,
eventually curbing tax evasion
● Timely reporting of all invoices eliminates compilation
of invoices in the month end
● Reduced ITC verification hassles with auto-reported
data
● Time and effort saved with unified reporting of B2B
invoice that can be referred to for GSTR-1 and e-Way Bill

14.
How the right ERP software will ease e-Invoicing
Automation
Consolidation
Efficiency
What can the
right accounting
software offer?
Provision to directly
upload your invoices
to the IRP
Invoice details from the
IRP can be synced to
the GST portal
Smartly validates data to
identify violations, incorrect
data entry etc
Ability to generate,
download, view or cancel an
e-Invoice from
a single dashboard
14

15.
GSTR
15
Why OPEN is the Easy way to pay Taxes
15
Track your challan
history and pay all
your outstanding
challans from a single
dashboard
Fetch GSTR-2A
reports much faster
by avoiding the 20
minute wait time
Auto-import
invoices into
GSTR-1 filing
sections
Save time by paying
TDS directly across
different categories
with Open
GSTR

16.
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e-Invoicing with Open
Part A
Communication between
the business and the Invoice
Registration Portal (IRP)
Part B
Communication between IRP,
the GSTIN/e-way bill portal and
the buyer

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DEMO
Generating e-Invoices
with Open

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