Hello, in this post we will look into the e-invoicing format and mandatory fields included in the e-invoicing under GST.
Latest Update
In a recent interview with PTI, Finance Secretary Mr.Ajay Bhushan Pandey said that e-invoice would be mandatory from April 1st, 2021 for all the B2B transactions by businesses with a turnover of over Rs. 5 crores.
NEW UPDATE:
CBIC notified that GST e-invoicing for B2B transactions is mandatory for any business whose turnover exceeds Rs 100 crore from January 1, 2021. The limit set earlier was only for turnover above Rs 500 crore.
We will cover the following topics in this post:
Introduction
You can refer to Part 1 of this topic in our previous blog – E-invoicing under GST
List of mandatory fields in an e-invoice
The core of e-invoice is based on the GST invoicing rules. It should contain the invoicing system and policies of each industry /sector.
E-invoice has mandatory information as well as optional information for business purposes.
Many fields are optional so that the users can only fill up relevant fields. You can also see certain fields of the e-way bill format are incorporated into the e-invoice.
The list of compulsory fields under e-invoicing under GST:
| Sl no. | Mandatory Field | Sample | Remarks |
|---|---|---|---|
| 1 | Invoice Reference Number (IRN) |
(Max length:64) a5c12dca80e7433217…. .ba4013750f2046f229 |
Unique reference number of the invoice. The supplier can not populate this field. The IRP will generate this IRN and respond to the registration with the IRN. Invoice is only valid once it has the IRN. |
| 2 | Code for Supply type | (Max length:10) B2B/B2C/SEZWP/SEZWOP /EXPWP/EXPWOP/DEXP |
A code to identify the type of supply. |
| 3 | Code for the Document type | Invoice / Credit Note / Debit Note | Type of the document can be used as Invoice, Credit or Debit note. |
| 4 | Document number | (Max length:16) Sa/1/2019 |
It will be as per invoice number rule mentioned in CGST/SGST/UTGST Rules. |
| 5 | Document Date | (DD/MM/YYYY) | The issue date of the e-invoice. |
| 6 | Supplier Information | Legal Name, GSTIN, address, Place/City/Town, State, PIN Code | Information about the supplier. |
| 7 | Buyer Information | Legal Name, GSTIN, address, Place/City/Town, State, PIN Code | Information about the buyer. |
| 8 | Invoice Item Details | Serial Number, Service, HSN code, Item Rate per unit quantity, Gross amount, Net amount, GST Rate, Item total amount | Provides information about the goods and services invoiced. |
| 9 | Total Amount in INR | Decimal (13,2) 745249678.5 |
The total amount of the invoice including GST must be rounded off to two decimals. |
| 10 | GST | (Max length:10) | Only for GST supplies. |
| 11 | E-way Bill Details | Transporter, Mode of transportation, Distance of transportation. | these details to be provided. |
| 12 | Shipping to | Legal Name, Address, Place, PIN code, State Code | Of the entity to which the supplies are shipped to. |
| 13 | Dispatch From Details | Name, Address, Place, PIN code, State Code | Of the entity from which goods are dispatched. |
| 14 | The total taxable value of the invoice | Decimal (13,2) 768439.35 |
The sum of the taxable amounts of all the items in the document. |
| 15 | Batch number/ name | (Max length: 20) 673927 | Batch number details may be relevant for a certain set of manufacturers. |
Salient features of e-invoicing under GST
- Signature on e-invoice: After IRP validate the e-invoice, it will then digitally sign the document. So, no need to sign e-invoice by anyone else.
- Company Logo on e-invoice: Logo is neither a part of the JSON file nor it is send to IRP. But the company can enter a LOGO to the billing/accounting software and print it on an invoice.
- Printing of QR Code on the invoice: The seller will get QR code when he uploads and registers the invoice into the Invoice Registration system. The seller can also print the same on the Invoice. B2C Invoice with QR Code is mandatory for a registered person, whose aggregate turnover in an FY is above 500 crores.
- Validity of invoice without Invoice Reference Number (IRN): E-invoice will be valid only if it has IRN.
- Printing: Both the seller and the buyer can print the invoice using the QR code and signed e-invoice returned by IRP.
- Cancellation: If you need to cancel the invoice, then you have to report it to IRN within 24 hrs. But after 24hrs you can only manually cancel it on GST portal before filing your returns. You can only fully cancel an e-Invoice not a partial cancellation of the e-invoice.
- Amendment: You can amend the e-invoice only on the GST portal as per the GST law.
- E invoices for Exports: The e-invoice schema is based on the common standard. Thus helping the buyer’s system to read the e-invoice.
- E-invoice schema for reverse charge mechanism: This system also contains reverse charge mechanism reporting.
With that, we have come to the end of this post on e-invoicing format and mandatory fields.
Share your views and opinions with us in the comments section below.
