E-Invoice System concept note, Standard, Schema and Template


As you may be aware that the GST Council has decided to introduce electronic-invoice (hereinafter called as E-invoice) on voluntary basis from January 2020.

The GST Council has approved introduction of ‘E-invoicing’ or ‘electronic invoicing’ in a phased manner for reporting of business to business (B2B) invoices to GST System, starting from 1st January 2020 on voluntary basis. Since there was no standard for e-invoice existing in the country, standard for the same has been finalized after consultation with trade/industry bodies as well as ICAI after keeping the draft in public place. Having a standard is a must to ensure complete inter-operability of e-invoices across the entire GST eco-system so that e-invoices generated by one software can be read by any other software, thereby eliminating the need of fresh data entry – which is a norm and standard expectation today. The machine readability and uniform interpretation is the key objective. This is also important for reporting the details to GST System as part of Return. Apart from the GST System, adoption of a standard will also ensure that an e-invoice shared by a seller with his buyer or bank or agent or any other player in the whole business eco-system can be read by machines and obviate and hence eliminate data entry errors.

The GST Council approved the standard of e-invoice in its 37th meeting held on 20th Sept 2019 and the same along with schema has been published on GST portal. Standards are generally abstruse and thus an explanation document is required to present the same in common man’s language. Also, there are lot of myth or misconception about e-Invoice. The present document is an attempt to explain the concept of e-invoice, how it operates and basics of standards. It also contains FAQs which answer the questions raised by people who responded to the draft e-invoice standard used for public consultation. It is expected that the document will also be useful for the taxpayers, tax consultants and the software companies to adopt the designed standard.

For details on the concept and FAQs on ‘E-Invoicing’ or ‘electronic invoicing’, please click here.

For downloading schema & template of ‘E-Invoicing’, please click here.

Top

Privacy Policy: As a general rule, this web site does not collect Personal Information about you when you visit the site. You can generally visit the site without revealing Personal Information, unless you choose to provide such information. Any Personal information collected shall be used only for the purpose for which you have provided it. The information you give us is intended to be safe with us, barring actions by entities / persons / organizations beyond legal jurisdiction of this country. We will never rent, sell, share or otherwise disclose your personal information to third parties. In certain cases, data could be shared with other government agencies, but this will be done only after following the due process. This site may contain links to third party sites whose data protection and privacy practices may differ from ours. We therefore have no responsibility for the content, privacy practices and activities of other websites and encourage you to consult the privacy notices of those sites. We may contact you from time to time regarding your purchases or the services (like forums and announcement lists) you have subscribed to (if and where applicable). We may also send you promotional announcements from time to time about new products and services that you might find useful (if and as applicable). You may also opt out from receiving information from us at any time and ask us to remove your contact information from our database (if and as applicable).