What is E-Invoicing?

E-invoicing or electronic invoicing is a system to generate an electronic document containing the information of transaction between a seller and buyer.

Invoice Registration Portal (IRP) generates  an identification number for all these electronic invoices. Invoice Reference Number (IRN) generated by IRP is used to transfer all the invoice information to the GST portal and the e-way bill portal. GST e-invoicing system will be implemented from October 2020 for those taxpayers whose turnover is Rs 500 crore or more. Earlier, it was planned to implement e-invoicing for businesses with turnover of Rs 100 crore or more in a year.

CBIC notifies vide Notification No. 60/2020–Central Tax Dated has clarified that new E-invoice under GST is applicable for dealer having turnover above 500 crore with effect from October 1, 2020. Now, SEZ units are excluded from e-invoicing. Notification No. 61/2020–Central Tax Dated:  30th July, 2020 issued by CBIC is as under:

CBIC notifies vide Notification No. 60/2020–Central Tax Dated:  30th July, 2020 revised Format/Schema for e-Invoice under GST by replacing existing FORM GST INV-01 with new FORM GST INV-1.

MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS)
New Delhi

Notification No. 60/2020–Central Tax

Dated:  30th July, 2020

G.S.R. 480(E).—In exercise of the powers conferred by section 164 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Central Government, on the recommendations of the Council, hereby makes the following rules further to amend the Central Goods and Services Tax Rules, 2017, namely: –

1. (1) These rules may be called theCentral Goods and Services Tax (Ninth Amendment) Rules, 2020.

(2) They shall come into force on the date of their publication in the Official Gazette.

2. In the Central Goods and Services Tax Rules, 2017, for FORM GST INV-01, the following form shall be substituted, namely:-

―FORM GST INV – 1

(See Rule 48)

Format/Schema for e-Invoice

Note 1:Cardinality means whether reporting of the item(s) is mandatory or optional as explained below:

0..1: It means that reporting of item is optional and when reported, the same cannot be repeated.

1..1: It means that reporting of item is mandatory but cannot be repeated.

1..n: It means that reporting of item is mandatory and can be repeated more than once.

0..n: It means that reporting of item is optional but can be repeated more than once if reported. For example,

previous invoice reference is optional but if required one can mention many previous invoice references.

Note 2: Field specification Number (Max length: m, n) indicates ‘m’ places before decimal point and ‘n’ places after decimal point. For example, Number (Max length: 3,3) will have the format 999.999

Schema (Version 1.1)

[F. No. CBEC-20/13/01/2019-GST]

PRAMOD KUMAR, Director

Note : The principal rules were published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide notification No. 3/2017-Central Tax, dated the 19^th June, 2017, published vide number G.S.R. 610(E), dated the 19^th June, 2017 and last amended vide notification No. 58/2020 – Central Tax, dated the 01^st July, 2020, published vide number G.S.R. 426(E), dated the 01^st July, 2020.