Varshamore

  Electronically generated, verified B2B invoices for interchange between suppliers and customers are produced by the GSTN (Goods and Services Tax Network). From the point where the supplier creates the invoice until the buyer processes it, the actual practice of e-invoicing should be electronic.   To ensure a decrease in GST avoidance, the idea of GST E-invoice creation was taken into consideration. Businesses with a revenue of more than INR 500 crore are mandated to provide electronic invoices under the GST regime as of October 31, 2020. However, from January 1, 2021, companies with a revenue of more than Rs 100 crore will need to provide electronic invoices.   To improve productivity, reduce error handling, and assist organizations in complying with e-invoicing legislation, e-invoicing solutions may help replace human processes with automated business rules and actions.   Definition of E-invoice: E-invoicing, sometimes referred to as electronic invoicing, is a bi...

  Removing paper and manual processing from your invoices might result in huge cost and time savings. The amount of connectivity you can establish between your invoicing software and other company systems, as well as with your trade partners, determines the true benefits of electronic invoicing.   An ideal initial step in your organization's digital transformation path might be starting to send and receive E-invoices . It can also be a crucial step in ensuring that your business processes are effective and scalable to support your firm's future development.   It is important to understand the numerous benefits provided by e-invoicing, which are described below: Real-time invoice tracking: Electronic invoicing provides the ability to track invoices created by the issuer/supplier in real-time. It enables the Input Tax Credit (ITC) to be made available quickly. When an invoice is delivered or received, the supplier and the buyer may keep track of it. Seamless account reconci...