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Requesting inputs on Consultation Paper on E-invoicing under GST

August 6, 2019

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As you might be aware, the GST Council in its 35th meeting held on June 21, 2019, had decided to introduce an Electronic invoice (E-invoice) on a voluntary basis from January 2020. The new system will lead to one-time reporting on the B2B invoice. This will lead to a substantial reduction in input credit verification issues as the same data will get reported to tax department as well as to the buyer.

In view of this, the Goods and Service Tax Network (“GSTN”) has released a public consultation paper on E-invoice standards to be used under GST System for industry feedback/comments. As per the concept note, the GSTN, in partnership with Institute of Chartered Accountants of India (“ICAI”), has drafted an e-invoice standard, which takes into account the requirement under tax laws and has features which are required for international trade as well.

The e-invoice draft is placed in the public domain is in the following three parts:

  1. E-invoice schema: It has the Technical field name, description of each field, whether it is mandatory or not, and has a few sample values along with explanatory notes.
  2. Masters: Masters are included in fields like UQC, State Code, invoice type, supply type, etc.
  3. E-invoice template: This template is as per the GST law and has been provided here to enable the reader to correlate the terms used in other sheets. The compulsory fields are marked green and optional fields are marked yellow.

Copy of the concept note and proposed e-invoice schema and template is attached for your reference.

In this regard, NASSCOM is formulating its submission on the consultation paper, and we encourage members to send us their inputs latest by August 15, 2019. Please send your inputs to Tejasvi at tejasvi@nasscom.in

Download Attachment

18029-e-invoice-template.xlsx

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