E-invoicing implementation is an opportunity to cleanse data and process-related issues and to achieve automation of tax compliances.
E-Invoicing is a process of raising invoices for notified business-to-business transactions, under which invoices generated by a software can be read by other software. This will help in interoperability of data & also in eliminating the need for any new data entry or errors.
The key objective of e-invoicing is to check tax evasion and ensure ease of doing business in India. E-invoicing was made mandatory from 1st October 2020 to all businesses whose aggregate turnover has exceeded the Rs.500 crore and from 1st February 2021 for businesses exceeding the Rs.100 crore turnover. It will be made mandatory from 1st April 2021 for business exceeding the Rs. 50 crore turnovers. Invariably, e-invoicing can be made applicable to all business transactions.
SkycendPay ensures timely and seamless implementation of e-invoicing for your business.
How it works:
- We asses and evaluate and configure your current system to cater to all the mandatory and optional fields requirement as per e-invoice standards.
- The current functionality of generating an invoice should pass on necessary information and seamlessly integrate with SkyscendPay software for generating JSON format, IRN and QR code.
- SkyscendPay will get the invoice authenticated and validated by the GSTN portal through online API process and get newly generated or authenticated IRN and QR code
- The recipient of the supply will also get intimated of the e-invoice generation through email.
- The seller can also send the e-invoice to the recipient in JSON format or printed paper or pdf or email with the logo, IRN, QR code along with various payment terms & conditions.
- The seller, in addition, can manually sign or digitally sign this e-invoice for sending to recipient – need to verify
OCR | AI | Blockchain
- Accessible in multiple platforms (mobile, tablets, desktops, etc.)
- Easy integration on your existing IT/ERP system
- Immense reduction in processing cost
- Enhances overall efficiency of businesses by implementing best invoicing practices
- Scalable to adapt any changing taxation and other business rules