E-invoicing GST, SGST,CGST,ERPs

As we know from 1st October 2020, the new e-invoicing framework has just been actualized. Accordingly, you may go over a few changes in ERPs because of the e-invoicing framework. Remembering this I have attempted to list all the potential changes in ERPs that you may go over because of e-invoicing: 

1. Classify Transactions 

As we know the e-invoicing framework applies to those citizens whose total turnover surpasses 500 Crore in any of the past budgetary years 2017-18, 2018-19, 2019-20. Subsequently, under this new e-invoicing framework, ERP programming needs to group all the advised exchanges and guide the equivalent with the pattern field recommended by the public authority. This will spare a great deal of time for informed citizens as they won’t need to sort the various exchanges to create an e-receipt. 

2. Supports QR Code Functionality 

It will be noticed that Invoice Registration Portal (IRP) won’t give a QR code picture yet a string. Receipt Print changes as indicated by the necessary field likewise should be dealt with alongside QR code print length design as informed by the public authority. Subsequently, ERP should uphold QR code usefulness that can without much of a stretch read the string and convert the QR code into a picture document. 

3. Easy Data Exchange 

Under the new e-invoicing framework, one of the significant upgrades in the ERP ought to have web network so GSP or ASP can undoubtedly trade information among ERP and IRP to create or drop the IRN. On account of disconnected E-Invoice age, ERP ought to have joined all necessary fields as recommended by mapping with the goal that it can undoubtedly be transferred on IRP Portal. 

4. Auto E-receipt Sharing 

After creating IRN and marked QR code for the receipt produced, the ERP programming ought to have the option to auto-offer such a receipt with the beneficiary. This will help the gatherings engaged with asserting precise information tax break (ITC) and document GST return. This is the future guide of NIC that will be covered under the Standard Invoice Messaging Protocol (SIMPOL). 

5. Track of Canceled E-solicitations 

In the event of a citizen drops an e-receipt it is significant for the ERP programming that a similar receipt number isn’t relegated to any new receipt. 

As following 24 hours, the e-receipt can’t be dropped legitimately from IRP, ERP ought to divert the citizen to the GST Portal on the off chance that he/she needs to alter the subtleties of the receipt following 24 hours however before GST bring documenting back. 

6. Proper Validation, all things considered, 

There have been occurrences where the records are not appropriately pulled by the ERP before producing an e-receipt. Subsequently, it is significant for the ERP to double approve the records so to guarantee that all the exchange needed to produce IRN has been incorporated from all records and vouchers. 

7. Handling of Adjustment or Cancellation of E-receipt 

Under the new e-invoicing framework, the change must be done either by dropping old e-solicitations and creating a new one or by giving credit notes/charge notes. Subsequently, ERP should uphold the connecting of credit or charge note to the receipt that requires correction. 

Note: The prescribed recommendation is to drop the old receipt and producing the new one.

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