The E-invoicing system was implemented from 1st October 2020 for the taxpayers with turnover more than Rs 50 crores. Then, it got extended to the taxpayers with the turnover more than Rs 50 crores from 1st January 2021. Now, it will apply to those taxpayers with the turnover of Rs 50 crores to Rs 100 crores from 1st April 2021.
Contents of E-invoice
The e-invoice schema contains both mandatory - the fields that are compulsory under the e-invoice standard & optional fields - that can be incorporated as per business needs. All the mandatory fields are to be filled to be allocated with IRN (Invoice Reference Number).
- Basic Details
- Supplier’s information
- Recipient’s information
- Invoice Item Details
- Document Total
How is E-invoice Authorised?
The seller will receive JSON with a unique IRN ( Invoice Reference Number ), digitally signed e-invoice and the QR code which contains all the details.
The unique serial number will be allocated for a GSTIN of the document creator and of the document.
The supplier has to create the IRN against each invoice and store it in ERP as without it, the e-invoice is not a LEGAL DOCUMENT.
The E-invoice Schema is a guide for users to understand the specifications of e-invoice.
The invoice schema contains the following:
The mandatory fields along with the Sample input are mentioned below for your reference:
The optional fields include references to contracts, vendor purchase order, e-way bill number, phone number or email ID, and the place of dispatch of the goods and more according to the needs of the businesses.