GST E Invoice Implementation In Depth Study Part 1

This video discusses on understanding the nitty gritties of GST E-Invoice implementation including

#GSTEInvoice #GST #EInvoice

1. The need to integrate the GST-Portal, E-Waybill Portal and IRP data.
2. Understanding Form GST INV-01.
3. Understanding QR Code Composition, encryption & Decryption.
4. Other issues and points critical to GST E-Invoice Implementation


As per notification no. 13/2020- Central Tax dated 21st March 2020, from 1st October 2020, e-invoice becomes mandatory for the taxpayer having aggregate turnover of more than INR 500 crores. Notably, aggregate turnover means PAN based turnover which includes stock transfers, exempt supplies and non-GST supplies.

It is important to note that interpreting rule 48, we can conclude that if the taxpayer who is mandatorily required to issue e-invoice, issues normal tax invoice. Then, such tax invoice will not be treated as an invoice. Accordingly, in such case, input tax credit of the same will not be available to the recipient.

As per notification no. 14/2020- Central Tax dated 21st March 2020, QR Code is mandatory for the taxpayer having an aggregate turnover of more than INR 500 Crores. the same is mandatory even in case of B2C invoices. The same is mandatory from 1st October 2020. QR code should consist the following major particulars of e-invoice –
• GSTIN of supplier and recipient;
• Invoice number;
• Date of generation of invoice;
• Invoice value;
• Number of line items;
• HSN code of main item;
• IRN.

Here, the taxpayer having an aggregate turnover of more than 500 Crores needs to note the following points, as applicable from 1st October 2020 –
1. Mandatorily required to generate e-invoice in case of B2B transactions. E-invoicing is not applicable to B2C transactions;
2. QR code is mandatory in case of both the transactions i.e. B2B and B2C.

Notification no. 60/2020- Central Tax dated 30th July 2020 provides the details of Schema. Schema is the details which are to be incorporated in e-invoice.

Following are the list of persons exempt from e-invoice –
1. Special Economic Zone Units (SEZ);
2. Insurance or banking company or financial institution which includes a non-banking financial company;
3. Goods transport agency (GTA) supplying services in relation to transportation of goods by road in a goods carriage;
4. Supplier of passenger transport service;
5. Supplier of service by way of admission to exhibition of cinematograph films in multiplex screens.


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#GST #Goods_&_Services_Tax #GST_E-Invoice #Taxguru

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