The GST e-invoice system had completed three months by the end of December 2020. The National Informatics Center (NIC) completed taxpayers’ smooth transition to the new platform. More than 37,000 taxpayers have generated over 16.80 crore Invoice Reference Numbers (IRN) on the Invoice Registration Portal (IRP) during the last three months.
The taxpayers have generated 4.95 crore IRN during October 2020, and the IRNs generated increased to 5.89 crore in November 2020, and it reached 6.03 crore in December 2020. The interesting fact is that the number of e-way bills generated is also highest from September 2020 to December 2020 compared to the same months of the previous year.
The Ministry of Electronics & IT stated in a press release said that the system’s response is good and the generation of IRNs is hassle-free during this period. However, there have been common errors such as repeated or simultaneous requests on the same document number, requests with calculation or validation errors, etc.
The NIC Help desk took proactive measures, including communicating issues through emails and telephonic calls, suggesting corrective actions, and facilitating solutions. NIC has also started sending the daily update to IRN generator about the number and value of the IRNs generated.
The government also made e-invoicing applicable from 1st January 2021 for taxpayers with an annual aggregate turnover threshold of Rs.100 crore or more. The NIC has already enabled the API and offline tool based sites for these taxpayers.
The NIC is also geared up with adequate infrastructure to handle the generation of e-invoices from these taxpayers from 1st January 2021. NIC portal facilitates big taxpayers, with a turnover of over Rs.500 crore to enable direct API access to their suppliers and clients from their systems.
The NIC developed the offline Excel-based IRN preparation and printing tool called a NIC-GePP tool keeping small taxpayers’ requirements in view. This excel application will allow taxpayers to enter invoice details, prepare the file to upload on NIC IRN portal, download the IRN with QR code and print the e-invoice with the QR code.
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DVSR Anjaneyulu known as AJ, is a Chartered Accountant by profession. Loves to listening to music & spending time with family and friends.