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Badrinath Patel
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  1. According to the latest Updates, the CBIC has notified that e-invoicing will be applicable from 1st April 2021 for businesses with a turnover of more than Rs. 50 crores (in any financial year from FY 2017-18 onwards).

    According to the latest Updates, the CBIC has notified that e-invoicing will be applicable from 1st April 2021 for businesses with a turnover of more than Rs. 50 crores (in any financial year from FY 2017-18 onwards).

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Badrinath Patel
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  1. E-invoicing is applicable to the export transactions to automate the refund mechanism to exporters under the following cases: Refund of the unutilised input tax credit on the exports made without payment of tax. Refund on the exports services provided with payment of tax. Refund of unutilised ITC wiRead more

    E-invoicing is applicable to the export transactions to automate the refund mechanism to exporters under the following cases:

    Refund of the unutilised input tax credit on the exports made without payment of tax.
    Refund on the exports services provided with payment of tax.
    Refund of unutilised ITC with regards to sales made to SEZ Unit/SEZ Developer without the payment of tax
    Refund of tax payment on supplies made to the SEZ Unit/SEZ Developer.
    Refund to the supplier/recipient of taxes paid on the account of deemed export supplies. Some of the examples of deemed exports are supplies made to the export-oriented units, United Nations, mega power projects/nuclear projects through competitive bidding.

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Badrinath Patel
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  1. e-invoicing became mandatory for all the taxpayers from 1st October 2020, whose aggregate turnover in a financial year exceeds Rs.500 crore. Thereafter, taxpayers with turnover more than Rs.100 crore must comply from 1st January 2021 whereas taxpayers with turnover more than Rs.50 crore must begin cRead more

    e-invoicing became mandatory for all the taxpayers from 1st October 2020, whose aggregate turnover in a financial year exceeds Rs.500 crore. Thereafter, taxpayers with turnover more than Rs.100 crore must comply from 1st January 2021 whereas taxpayers with turnover more than Rs.50 crore must begin complying from 1st April 2021. Eventually, all taxpayers may be brought under the tax ambit in a phased manner.

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Badrinath Patel
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  1. The CGST Rules require all the invoices (including credit notes/debit notes) to be physically signed by the authorised representative of the entity issuing the invoice. However, such authorised representative may also place his digital signature if it is affixed as per the provisions of the InformatRead more

    The CGST Rules require all the invoices (including credit notes/debit notes) to be physically signed by the authorised representative of the entity issuing the invoice. However, such authorised representative may also place his digital signature if it is affixed as per the provisions of the Information Technology Act, 2000.
    The e-invoice system requires a supplier to upload the JSON of the invoice onto the Invoice Registration Portal (IRP). The JSON will have to follow the specific mandatory and optional parameters while reporting the invoices. The digital signature is one of the optional parameters in this case. Once the e-invoice is signed by the IRP, it will be a valid e-invoice which can be used by the seller for his various business transactions. The IRP will also forward the digitally signed e-invoice to the GSTN and the e-way bill system.
    One can conclude from this that every invoice must be signed by the athorised dsignatory, however it is not necessary that there must Digital Signature only.

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Bhanaviya Reddy
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  1. To void the invoice, open invoice page and click the invoice you would like to void. From the invoice detail view, click the "•••" button and select the change invoice status option. In the dialog box, chose the Void option then click the Update status.

    To void the invoice, open invoice page and click the invoice you would like to void. From the invoice detail view, click the “•••” button and select the change invoice status option. In the dialog box, chose the Void option then click the Update status.

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Bhanaviya Reddy
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  1. One can send an invoice for payment either through physical ways or online. However, most common way to send invoice these days is via E-mail. One can write an emal providing details regarding product and services and briefing about amount along with an invoice as an attachment.

    One can send an invoice for payment either through physical ways or online. However, most common way to send invoice these days is via E-mail. One can write an emal providing details regarding product and services and briefing about amount along with an invoice as an attachment.

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Bhanaviya Reddy
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  1. The IRP will generate a QR code containing the unique IRN (hash) along with some important parameters of invoice and digital signature. A hash generation algorithm is a function that converts a message or a string consisting of characters (alphabets + numbers + certain special characters) into a serRead more

    The IRP will generate a QR code containing the unique IRN (hash) along with some important parameters of invoice and digital signature.

    A hash generation algorithm is a function that converts a message or a string consisting of characters (alphabets + numbers + certain special characters) into a series of numbers such that the resulting numbers cannot indicate the original message. The GSTN will prescribe this algorithm as part of the e-invoicing standard.

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Bhanaviya Reddy
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  1. The government released a QR code verifying app which can be used to verify the authenticity of an e-invoice. A QR code contains important invoice details such as the GSTIN of the supplier and buyer, invoice number, date of invoice generation, invoice value, HSN code, unique invoice reference numberRead more

    The government released a QR code verifying app which can be used to verify the authenticity of an e-invoice.
    A QR code contains important invoice details such as the GSTIN of the supplier and buyer, invoice number, date of invoice generation, invoice value, HSN code, unique invoice reference number and the digital signature of IRP. A taxpayer, as well as a tax officer, can validate the details of an invoice through the QR code. There are two ways to verify an e-invoice on the QR code offline app:
    1. Scanning the QR code
    2. Uploading the JSON

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