Govt says B2B invoices should be created only on GST portal from Sept, 2019

A new GST rule is here! This rule changes the way you were creating your invoices.

It doesn’t matter how you were creating bills until now, September onwards all your B2B (Business to Business) invoices should be created only on the government portal. This means you will have to enter all your sales information on the Government portal to generate your invoice.

Note: This is applicable only if your business turnover or invoice value is above the specified amount which is yet to be decided.How this new e-invoicing works: A software will be provided to you using which you can generate your invoices. This software will be linked to GST portal. Procedure to generate e-invoices is same as e-way billing. Every invoice generated on the portal has a unique number. You can match this number with the invoices numbers in the sales return and taxes paid. It will make filing GSTR returns simpler for you as your invoice data would be readily available on the portal. This will reduce your burden of filing returns as invoice wise data would be auto-populated in the return forms. You will save time & effort in filing your GSTR returns. You will be allowed to generate e-way bill for it at the same time.

What do you think about this new rule? Comment Below.

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