Issues e-Invoicing System
As per the latest update, it will soon apply to those taxpayers with a turnover of more than Rs.10 crore from 1st October 2022.
B2B and B2C Invoices
- E-invoicing applies only to B2B invoices and not B2C invoices.
- B2B invoices require both e-way bills and e-invoices, whereas B2C invoices only require e-way bills to be generated (wherever e-way bill is applicable).
- In most cases, the transporter ID will need to be mentioned at the source in cases where e-way bill generation is required. Hence, sorting of invoices will be required and needs automation to some extent, without which, a lot of time and effort gets invested.
Cancellation and amendment of e-invoices
- An e-invoice cannot be partially cancelled. Even for a small change, it needs to be entirely cancelled.
- Cancellation of e-invoices is allowed on the IRP within 24 hours. After 24 hours, the cancellation cannot be made on the IRP; it needs to be done on the GST portal.
- It is to be noted that a new e-invoice cannot be raised with the previous invoice number.
A taxpayer will need to revise the invoice number in addition to fixing the errors, if any, and raise a new e-invoice on the IRP.
