{"id":16836,"date":"2020-11-03T06:57:21","date_gmt":"2020-11-03T06:57:21","guid":{"rendered":"https:\/\/plyinsight.com\/?p=16836"},"modified":"2020-11-16T05:14:43","modified_gmt":"2020-11-16T05:14:43","slug":"gst-e-invoices-jump-threefold-within-a-month-of-launch","status":"publish","type":"post","link":"https:\/\/plyinsight.com\/hi\/gst-e-invoices-jump-threefold-within-a-month-of-launch\/","title":{"rendered":"GST e-invoices jump threefold within a month of launch"},"content":{"rendered":"

The e-invoicing system under the goods and services tax (GST) regime got off to a smooth start, overcoming initial apprehensions, with invoice generation per day rising threefold within a month of its roll-out.<\/strong><\/p>\n

About 2.4 million invoice reference numbers (IRNs), or e-invoices, are being generated daily now, compared with 800,000 on October 1, when it was made mandatory for entities with turnover of Rs 500 crore or more.<\/p>\n

While 48,000 GSTINs are above the Rs 500-crore turnover threshold, sectors like transportation, insurance, and banking have been exempted from this. Units in special economic zones, too, have been exempted from complying with the rule.<\/p>\n

There have been no major complaints or glitches in the first month. This is also because these are large companies with sound technological systems in place. Under e-invoicing, companies have to generate IRNs from a government portal and these have to be shown to authorities while moving goods.<\/p>\n

E-invoicing has been introduced to bring in more transparency in reporting sales, minimising errors and mismatches, automating data entry work, apart from improving compliance. It will help prevent tax evasion once it is made mandatory for small and medium firms.<\/strong><\/p>\n

\n

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The e-invoicing system under the goods and services tax (GST) regime got off to a smooth start, overcoming initial apprehensions, with invoice generation per day rising threefold within a month of its roll-out. About 2.4 million invoice reference numbers (IRNs), or e-invoices, are being generated daily now, compared with 800,000 on October 1, when it […]<\/p>","protected":false},"author":1,"featured_media":16837,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[872],"tags":[846,848,250,847],"class_list":["post-16836","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-breaking-news-november-2020","tag-e-invoice","tag-e-invoicing","tag-gst","tag-invoice"],"yoast_head":"\nGST e-invoices jump threefold within a month of launch - PLY INSIGHT<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/plyinsight.com\/hi\/gst-e-invoices-jump-threefold-within-a-month-of-launch\/\" \/>\n<meta property=\"og:locale\" content=\"hi_IN\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"GST e-invoices jump threefold within a month of launch - PLY INSIGHT\" \/>\n<meta property=\"og:description\" content=\"The e-invoicing system under the goods and services tax (GST) regime got off to a smooth start, overcoming initial apprehensions, with invoice generation per day rising threefold within a month of its roll-out. 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