Harshit Dheer
Quick Summary
Government has mandated e-invoice for businesses with turnover of more than INR 50 crores w.e.f 1st April 2021. In case e-invoice is not issued by the seller as required by the law provisions, the invoice would not be considered as a valid GST invoice. Further, the buyer would also not be eligibl
Daily Limit Reached
You have reached your daily limit of 2 Free Articles
Subscribe to CCI PRO for unlimited access
Why Upgrade to CCI PRO?
- No Ads
- WhatsApp Broadcasts
- Daily E-Newsletter
- Unlimited Articles Access
BEST VALUE
2 YEAR PLAN
3,499
(Inclusive of GST)
1 YEAR PLAN
1,999
(Inclusive of GST)
View all CCI PRO benfits
Already a PRO member? Login here for an ad-free experience.
FAQ :
Businesses with a turnover of more than INR 50 crores are mandated to issue GST e-invoices.
If an invoice is issued without an IRN as required by law, it is not considered a valid GST invoice. Consequently, the buyer cannot claim Input Tax Credit.
IRP stands for Invoice Registration Portal. This is the government portal, currently NIC in India, through which businesses receive the Invoice Reference Number (IRN) for their transactions.
By implementing a system check, ERP systems can restrict invoice printing until the IRN is successfully received. This ensures that no non-compliant invoice is printed or issued.
The IRN, or Invoice Reference Number, must be printed on the face of the invoice to make it a GST compliant e-invoice.
CAclubindia
