As you all are aware the Government of India is proposing to introduce an e-invoicing system under GST for B2B transactions from 1st April 2020. Under such a system, the ERP system of businesses beyond a turnover of INR 100 crore would be linked to the Government portal mandatorily for the generation of a unique number that is required to include on issued invoices. Concept note describes e-invoice application for the invoice, debit note, credit note and ‘other relevant documents required by law.
The government released an e-invoice standard template. This standard is based on globally accepted standards. As per Government, upcoming e-invoice system consists of the following parts:
Microsoft will provide a configurable e-invoice feature through Electronic Reporting to create JSON files/configurable business documents in Excel/Word by March 1st.
The above plan is subject to change. Adjustment is possible as per change in organizational business priorities or any specific directives regarding e-invoicing solution implementation from the government side.
Intech Systems is committed to ensuring that e-Invoicing compliance requirements are met through our ERP solutions. We have tied up with an ASP “Microvista Technologies Pvt. Ltd.” and working towards integrating with their e-Invoice solution. This solution will have the following features:
There will not be any manual intervention in the entire process. Therefore, all the activities will be complete without the user ever leaving the ERP screen.
Moreover, we are planning to have a working solution ready by the end of February which will provide our customers enough time to test the solution. Certainly, we shall keep the solution updated with regular changes made by the Government.
If you still have any questions or queries related to e-invoicing, please feel free to contacts us. For a live demo, register yourself by filling this form and we will arrange a demo for you and your team.
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