India, 23 November 2020
Taxpayers with an annual turnover of more than INR 500 crores had to implement the e-Invoicing process mandatorily from 1 October 2020. Furthermore, the CBIC has notified that from 1 January 2021, taxpayers with an annual turnover more than INR 100 crores have to adopt the e-Invoicing system as well.
The details furnished in the e-Invoices are based on a schema issued by the Government. This ensures that all taxpayers provide the required information in a uniformed format. To link the GST return filing process with the new invoicing system, the Government has announced that it will modify the GSTR-1 dashboard with the required tabs/labels and auto-populate the available details.
The details that will be auto-populated from the e-Invoice are:
● Taxable outward supplies made to registered persons (other than reverse charge),
● Taxable outward supplies made to registered persons attracting reverse charge,
● Export supplies,
● Credit or debit notes issued to registered persons, and
● Credit or debit notes issued to unregistered persons.
For November 2020, these details will be auto-populated into the GSTR-1 by 2 December 2020. Taxpayers can download the details of October 2020 from the GSTR-1 dashboard.
Note: In case the GSTR-1 for any corresponding period was already filed by the taxpayer, then, the details from e-Invoices can be downloaded as an excel file only.
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