GSTN has taken a step forward in the digitalization of business processes.
It has now launched e-invoice registration services.
It has been done as per the recommendation of the GST Council.
E-Invoice Registration is launched in collaboration with various private IRPs.
Four Private Companies Empaneled by GSTN for E-Invoice Registration Services
GSTN has selected four private companies.
These private companies are: ClearTax, Cygnet, E&Y, and IRIS Business Ltd.
These companies need to provide e-invoice registration services to all GST taxpayers in India.
Information regarding both existing and new IPRs can be found on the official e-invoice dashboard.
Link of the official e-invoice dashboard is: https://einvoice.gst.gov.in/einvoice/dashboard .
Multiple IRPs Enhance E-Invoice Registration Capacity
Taxpayers now have the option to choose from multiple IRPs for registering their e-invoices.
However, previously they were limited to a single portal provided by NIC.
This development greatly enhances the capacity and redundancy of the e-invoice registration system.
Furthermore, Business owners can use Instabill software to generate e-Invoice instantly without any extra effort.
Digitally Signed E-Invoices Improve GST Reporting Accuracy
Integrating the end-to-end flow of digitally signed e-invoices between sellers and buyers with the GST system will greatly simplify compliance for taxpayers.
In addition, it will enable automatic drafting and populating of invoice details in the GST Return Filing process.
As a result, there will be greater accuracy and correctness in reporting of supplies and availing of ITC by recipients.
Download E-Startup Mobile App and Never miss the latest updates narrating to your business.