‘e-Invoicing’ or ‘electronic invoicing’ is a system in which B2B invoices are authenticated electronically by GSTN for further use on the common GST portal.
Under the electronic invoicing system, an identification number will be issued against every invoice by the Invoice Registration Portal(IRP) ) to be managed by the GST Network(GST). The first IRP was launched by the National Informatics Centre at gst.gov.in All invoice information will be transferred from this portal to both the GST portal and e-way bill portal in real-time.
It will eliminate the need for manual data entry while filing GSTR-1 return as well as generation of part-A of the e-way bills, as the information is passed directly by the IRP to GST portal.
With effect from April1, 2021, e-Invoicing is mandatory for all B2B transactions for companies having sales turnover of more than INR 50 crores.