The transportation of goods from one place to another is facilitated by the filing of ‘E-Way Bills’ on the common GST portal. Similarly, the GST Council has decided to implement a system of e-invoicing.
E-invoicing does not mean that the company must create their invoice using the government’s software system. Instead, it means that the company must submit information about their already generated invoice (from their ERP system) to the Invoice Registration Portal (IRP) and receive the unique IRN (Invoice Reference Number) and a QR code from the portal, which needs to be printed/displayed on their invoice. The broad process flow of the E-invoicing system is displayed below.
E-invoice must primarily adhere to the GST invoicing rules. Apart from this, it should also accommodate the invoicing system or policies followed by each industry or sector in India. Certain information is made mandatory whereas the rest of them is optional for businesses. Also, each e-invoice has to be registered individually and can not be processed enmass.
Adhering to this system is made easy by SAP Business One. It offers two options to customers with respect to the actual solution deployment and usage.