The Central Board of Indirect Taxes and Customs (CBIC) has said that Accounting and Billing Software Providers can enrol with GSTN to Receive Regular updates on E-Invoice.

The GST Council has approved the introduction of ‘e-invoicing’ or ‘electronic invoicing’ in a phased manner for reporting of Business to Business (B2B) invoices to GST System.

An e-invoice standard has been finalized after consultation with trade/industry bodies as well as ICAI. The adoption of this new standard ensures the complete inter-operability of e-invoices across the entire GST eco-system. The new system eliminates the need for fresh data entry, reduction of reconciliation errors and population of invoice details directly into Return through Invoice Reporting Portal (IRP).For more details on ‘e-invoice’, CLICK HERE

Being key players in the Indian business eco-system, the role and support of Accounting and Billing Software Providers are crucial for the successful implementation of the GST e-invoice System.

In the coming months when e-invoice implementation takes place, GSTN intends to interact closely with Accounting and Billing Software Providers. This is to get suggestions and feedback as well as to keep them abreast of developments on the new e-invoice framework.

Accounting and Billing Software Providers can ENROL HERE, by providing contact and other details.

Source: Tax-Scan.

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