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E-way and einvoice

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Yasaswi Gomes new

Finance

4592 Points Posted on 24 April 2023

Hi,

Since we all upload consignment value as per section 15 provisions to generate e invoices, irn or manually generate e-way bills. Once the delivery is complete, will the invoice close off? And is this consignment value used here in tax portals used for calculating corporate tax assessment?

Txs

Replies (2)

Quick Summary

This discussion clarifies the relationship between e-way bills, e-invoices, and tax assessments. The consignment value used for generating these documents is indeed the invoice value. While the GSTN portal's figures can be referenced by tax authorities for assessments, reconciling these with your own books of accounts is crucial. Any transactions, including credit notes, recorded on the GST portal can aid in current tax assessments.

CA SANDESH MAHIPAL

Practicing in GST and MSME

1985 Points Posted on 24 April 2023

I am not sure what you wish to ask by Invoice Close Off. However, as per my understanding of your further query, taxable values mentioned on the GSTN portal can be used by GST authorities during assessments. Even other authorities can also take reference of it for multiple purposes.

But, if you are sure about the differences in GSTN portal values and books of accounts, there will be no issue.

Reconciliation will only help.

Please feel free to add on further, if required.

Regards

Yasaswi Gomes new

Finance

4592 Points Posted on 25 April 2023

I'm sure this is what happens then. The consignment value is nothing but invoice value and I was wondering if it is used for tax assessment. I was also under the impression that goods are dispatched per order and it becomes a consignment. What ever transactions happen will be recorded (credit notes from seller) in gst portal and can be helpful in assessing current taxes . I'm clear now.