Electronic invoicing guide
India
Digital reporting requirements
Real time reporting
Obligatory
Mandatory for B2B & B2G for taxpayers having ₹ 5 Cr+ turnover (€330.000 aprox).
Authority
Good and Services Tax Counsil (GSTC).
Goods and Services Tax Network (GSTN).
Platform
Invoice Registration Portal (IRP).
Format
JSON.
Storage time
6 years.
Reporting and processes
Processes
- In India, the CTC model was implemented based on the mandatory infrastructure of the invoice registration portal (IRP).
- All companies based or with branches in India are required to create e-invoices using their own systems, and submit them electronically to the Indian registration portal in JSON format for approval.
- Currently there are six Invoice Registration Portals, there is not a centralized system, the user must choose one to send the invoice and receive the information to be added to the invoices.
- All invoices receive an invoice reference number (IRN) and a QR code from which all invoice details can be read. The IRN is issued after a valid invoice has been approved, and invoices without an IRN are considered invalid.
- If this approval process is successful, digitally signed invoices are uploaded to the GST System.
- The company then receives proof of invoice registration and the approved invoice is available to the seller and buyer on the GST portal.
Upcoming legislative changes
For the time being, no legislative changes are foreseen.
Links of Interest and documents
https://www.gstn.org.in/Documents
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