e-Invoicing

e-Invoicing is a system through which business to business (B2B) transactions are authenticated electronically by GSTN for further use on the common GSTN portal. At present, Tally has decided to implement e-invoicing in phases to ensure a smooth rollout. In Phase 1, E-invoicing will be a reality for businesses with a turnover of Rs.500 crores and above, on the successful implementation of which phase 2 is expected to be announced. All businesses falling in the above criteria will be communicated to register on the e-invoice portal to start e-invoicing mandatorily. Once registered, these businesses will have to upload their B2B invoices (Sales, Credit Note and Debit Notes made to businesses, government entities, and all types of exports) on the e-invoice portal and get it registered before removal of goods from their premises.