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What is e-invoice and how does it work?
E-Invoice is a system in which B2B invoices are authenticated electronically by GSTN for further use on the common GST portal. Under the GST e-invoice software, an identification number will be issued against every invoice by the Invoice Registration Portal (IRP), to be managed by the GST Network (GSTN).
Who is eligible for GST E-invoice Software?
If you are a business with an annual turnover exceeding 5 crores or more, e-invoice will be applicable, and you need to electronically upload all B2B and B2G invoices to the portal. You need to generate the e-invoice in the required format and upload it to the IRP portal.
What is use of e-invoices in GST?
E-invoicing is the proposed system where business-to-business (B2B) invoices are digitally prepared in an e-invoicing format and authenticated by the Goods and Services Tax Network (GSTN). This system ensures that a common format is followed by all businesses before reporting invoices to the GST e invoice portal.
Benefits of using GST E-Invoice system
Increased accuracy and efficiency: Our GST e-invoice software can help your business generate and manage invoices more accurately and efficiently. This is because our software can automatically populate the invoices with the correct information, such as the product details, quantity, price, and GSTIN. And it can help reduce errors and improve the speed of invoice processing.
Improved compliance: Our e-invoice system can help your business comply with GST regulations. This is because our software can track the generation and submission of invoices and can also generate reports that can be used to verify compliance.
Reduced paperwork: This software can help your business reduce the amount of paperwork associated with GST compliance. This is because the software can store invoices electronically and generate reports that can be used to replace paper documents.
Improved cash flow: Our GST e-invoice software can help businesses improve their cash flow by making it easier to track and collect payments. This is because the software can automatically generate invoices and reminders, and it can also track the status of payments.
Enhanced customer service: Our e-invoice system can help businesses improve their customer service by providing customers with a convenient way to view and manage their invoices. This can help reduce customer inquiries and improve customer satisfaction.
Reduced fraud: It can help businesses reduce fraud by providing a secure and auditable way to generate and store invoices. This is because our software can track the generation and submission of invoices, and it can also generate reports that can be used to verify the authenticity of invoices.
To learn more about GST E-invoice software, Contact us today.
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