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GST E-INVOICING SOLUTION

With Government’s mandate to upload Invoices to Invoice Registration Portal (IRP) and generate Invoice Reference Number (IRN) for Corporates with 100 Crore and above turnover from 1st April, Business need to be fully equipped to be able to connect to GSTN using JSON API with their Enterprise solutions for e.g. Microsoft Dynamics NAV to ensure seamless, accurate exchange of required information.

Freedom to focus on your business:

  • It is a system to integrate B2B invoices with GSTN.
  • Get identification number and QR code issued against each Invoice from Invoice Registration portal using GSTN.
  • Get your Invoice digitally signed.
  • Eliminate need for manually uploading invoice.
Direction - Microsoft Dynamics NAV GST E-Invoicing

Direction Software Solutions provides solutions that helps integrate GST compliance with Business. With India Government’s initiative to digitize Tax invoice registration and provide business with easy and effective GST system, our company has developed a solution that will automate Tax Invoices to be uploaded to Invoice Registration Portal (IRP) using APIs from GST Suvidha Provider (GSP) to generate Invoice Reference Number (IRN) numbers and QR codes.

What is e-Invoice?

It is a system to report transactions in a common and standard format across all business designed by GSTN. The main objective is to validate and capture Sales Data on GSTN portal with an objective to avoid tax fraud and ease flow of data for tax return filling. Some of the other benefits is that it is used for generating Part A of e-way bill.

There is a general misconception that e-Invoice means generation of Invoices from a central portal. The fact of the matter is that Business can continue generating invoices and accounting transactions the way they are doing in their current system.

Under e-Invoice regime, seller shall upload the details of the transactions and get electronically validated from government portal (IRP). Upon validation a unique Invoice registration number along with QR code and digitally signed copy will be available for both seller and buyer.

Criteria:

  • Applicable for business that has turnover more than 100 crore, will require to generate e-Invoice for all B2B Sales transactions.
  • For those business with 500 crore and above will require to provide B2B & B2C sales transactions.
Direction - Microsoft Dynamics NAV GST E-Invoicing

Benefits:

  1. Standard reporting format across all organization.
  2. Auto generation of data for Tax filling purposes.
  3. Single document to satisfy all the statutory requirement like e-way bills etc.
  4. Reduction of Tax frauds.
  5. System level matching of Input and output tax to reduce reconciliation efforts.

Direction’s E-Invoicing Solutions:

  1. Our company is partner with GSP and can help your business facilitate needs for GST and related services.
  2. Our solution will integration your Microsoft Dynamics NAV to GSTN to generate QR code, IRN number and get it digitally signed.
  3. Two solutions to connect to GSTN:
    1. Integrate using GSP’s API.
    2. Directly integrating to GSTN without using GSP APIs.
Direction - Microsoft Dynamics NAV GST E-Invoicing

Key components of GST e-Invoices:

  • Data exchange is based on standard format designed by GSTN using JSON format, making it standard both in content as well as technology.
  • GSP stands for (GST Suvidha Provider). A GSP is a service provider who helps the taxpayer to comply with the provisions of the GST law through its web platform. Goods and Service Tax Network (GSTN) will receive the returns filed by companies through GST Suvidha Provider.
  • GSTN has been created by the private company that is officially authorized by the government. The State and Central Government collectively hold a 51% share. The main objective of creating GSTN is to develop, render and maintain IT infrastructure facilities and services to the Central Government and State Government, Tax Payers and other stakeholders for the implementation of GST.
  • APIs will be provided by GSPs as well as Directly by GSTN.
  • The Invoice Reference Number (IRN) is a unique number generated by the Invoice Registration Portal (IRP) using a hash generation algorithm, under the new e-invoicing system. For every document such as an invoice or debit or credit note to be submitted on the GST portal/e-way bill portal, an invoice reference number shall be generated.
  • Requirement of Digital Signature by e-invoice Registration Portal.
  • The IRP will also generate a QR code containing the unique IRN (hash) along with some important parameters of invoice and digital signature so that it can be verified on the central portal as well as by an Offline App.
  • Cancellation of an E-invoice is possible. This will have to be reported to IRN within 24 hours. Any cancellation after 24hrs could not be possible on IRN, however one can manually cancel the same on the GST portal before filing the returns.

Process flow of generation e-Invoice

Direction - Microsoft Dynamics NAV GST E-Invoicing

Direction

5, Brady Gladys Plaza,
1/447 Senapati Bapat Marg,
Lower Parel, Mumbai - 400 013, India
Email: info@direction.biz
Phone: 91 (22) 6152 5000
Fax: 91 (22) 2491 1046