What is e-invoicing?

Electronic invoicing or e-invoicing is a system of raising invoices, in which invoices generated by one software can be read by any other software in order to eliminate the need for any fresh data entry or errors. In other words, e-invoicing uses a standardized format for generating an invoice, where the electronic data of the invoice can be shared with others, thus ensuring the interoperability of data.

What are the benefits of e-invoicing?

Is e-invoicing mandatory for ISPs?

• From October 1st 2020, e-invoicing became applicable to all businesses exceeding Rs.500 crore turnover.
• From 1st January 2021, e-invoicing became applicable to all businesses exceeding Rs. 100 crore turnover.
• From 1st April 2021, e-invoicing became applicable to all businesses exceeding Rs.50 crore turnover.
• From 1st April 2022, e-invoicing became applicable to all businesses exceeding Rs 20 crore turnover.
• From 1st October 2022, e-invoicing became applicable to all businesses exceeding Rs.10 crore turnover.
• From 1st August 2023, e-invoicing became applicable to all businesses exceeding Rs.5 crore turnover.

e-Invoice Process

• With the use of ISP Management Software or the tool provided by the portal, generate the e-invoice in a prescribed format.
• Login and upload the e-invoice file to Invoice Registration Portal (IRP). If the software is integrated with IRP via GSP (GST Suvidha Provider), the upload of the JSON file will be automated, meaning system sends the required details directly to the IRP portal.
• The IRP portal validates the key invoice elements and upon successful validation, the invoice data is authenticated with IRN (Invoice Reference Number) and QR code.
• Next, you can download or receive the e-invoice file along with the IRN for the invoices that have been uploaded by you. Using the details received, update your invoice with IRN number and QR code. In the case of an integrated environment of ERP and IRP via GSP, the software will automatically fetch and print such details.

How will Height8 help?

H8 Solution is ready with the new e-invoicing feature to follow the steps of the government for digital economy and to simplify the compliance for businesses. Have any questions or want to know more about the H8 e-invoicing feature? Write us a mail at h8ssrms@height8tech.com or call/WhatsApp us at +91-6358931775. Follow us on Facebook, LinkedIn, Twitter, and YouTube to get updates on the latest technological advancements in the telecom sector.