e-invoice

Govt to allow e-comm firms to upload e-invoice for vendors under GST framework

e-invoice

The Indian government is planning to allow e-commerce platforms such as Amazon and Flipkart to upload ‘e-invoicing’ or ‘electronic invoicing’ for suppliers under the goods and services tax (GST) framework.

“E-commerce operator can request for e-invoice on behalf of suppliers,” said an ET report quoting the GST network detail set of FAQ clarification on the matter. The process of e-invoicing is under trail and could be allowed once it is over.

According to a govt official, the issue has been taken up by the govt and soon may be subject to an amendment.

The move is hailed as one of the significant relaxations for the e-comm industry, where e-comm firms such as Amazon and Flipkart would like to keep track of suppliers.

The clarification will also go a long way in removing ambiguities such as no requirement of invoice registration portal validation for delivery challans and bill of supply.

Earlier in September, the GST Council had given the nod to the introduction of e-invoicing for business to business (B2B) transactions from January 1, 2020. The e-invoice system of uploading invoices on government portal will be mandatorily rolled out for companies with turnover over Rs 100 crore from April 1.

E-invoicing, once implemented, promises to simplify compliance, indirect tax system as well as help curb tax evasion as it enables pre-populating of GST returns with the e-invoice details.  Offline retailers have often alleged e-commerce to have caused huge GST loss to the govt by selling goods at discount rates.

Meanwhile, expert observers and businesses have also caution over e-invoice implementation as it adds additional compliance layer and requires updating of account software.

Send Suggestions or Tips

e-invoice

Govt to allow e-comm firms to upload e-invoice for vendors under GST framework

Click edit button to change this text. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.Click edit button to change this text. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.

Below is the bank details:

 
Amount: INR 3,00,000 + GST (TDS to be deducted 2%)
Bank Name: ICICI Bank
Account Type: Current
Account Name: Bareback Media Private Limited
Account Number: 002105023595
IFSC Code: ICIC0000021
 
Kindly make the payment to confirm your seat for Unicorn trip 3.0. For any other queries/concern: pls drop a email on: [email protected] or [email protected]
X