Generate E-INVOICES

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India’s Best e-Invoicing Software to Simplify Your GST e-Invoicing

Why only Marg Erp for E-Invoicing?

  • Generate E-Invoice without going to Portal

  • 7 Years Cloud Backup

  • Print QRcode & IRN on Invoice

  • Validate Party GSTIN on Single Click

  • Digital Signature on Invoice

  • Auto error correction

  • GSTR 2A/2B Online Reconciliation

  • Zero Downtime

  • Online E-Way Bill

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Benefits of using Marg Erp for E-Invoicing

  • Generate E-Invoice without going to Portal

  • 7 Years Cloud Backup

  • Print QRcode & IRN on Invoice

  • Validate Party GSTIN on Single Click

  • Digital Signature on Invoice

  • Auto error correction

  • GSTR 2A/2B Online Reconciliation

  • Zero Downtime

  • Online E-Way Bill


All About E-Invoicing

Electronic invoicing, also known as e-Invoicing in India, is a method of creating invoices that enables invoices created through one software program to be accessible by other software, it has reduced the need for further data entry and labor-intensive manual processes. It is an invoice that has been produced using a standard format so that others can share its electronic data, ensuring information consistency at last.

What is e-Invoicing ?

Electronic invoicing, or e-Invoicing in India, is a system for creating invoices in which invoices generated by one software can be accessed by other software, hence reducing the need for new data entry or errors. In simpler terms, it is an invoice prepared using a standard format in which the electronic information of the invoice can be shared with others, ultimately ensuring information compatibility.

Electronic Invoicing refers to a system in which Business-to-Business (B2B) invoices, Export invoices, and Credit/Debit Notes are electronically certified by GSTN for use on the common GST site. An e-invoice verifies transactions and assigns a unique identifier (Invoice Registration Number or IRN) to each invoice, which is subsequently handled by GSTN's Invoice registration site (IRP).

E-invoicing is the new method of making invoices and will undoubtedly be the future of billing. E-invoicing was adopted for a variety of reasons and is a superior approach to PDF or conventional papers. E-invoicing is only possible with specialised software. Marg ERP is a remarkable e-invoicing software with the most recent features and upgrades.

The invoicing software of the seller generates an electronic invoice in a structured format with encrypted data in XML or EDI. Alternatively, the format is prepared in web-based forms and distributed to both the vendor and the buyer.

The goods and services tax council has mandated that enterprises with an annual turnover of ₹5 crores or more switch to electronic invoicing as of the next year after requiring it for companies with a turnover of at least ₹10 crores. Starting on January 1, 2023, companies with a turnover of at least ₹5 crores would be required to produce electronic invoices for business-to-business transactions. Previously to this notification, all business-to-business transactions required an invoice from companies with a turnover of at least ₹20 crores.

According to tax officials, e-invoices have a number of benefits including :

  • Auto-reporting of invoices into GST returns and auto-generation of e-way bills.
  • It will eliminate mismatch mistakes, e-Invoice resolves and plugs a critical gap in data reconciliation under GST.
  • E-invoice allows for real-time tracking of invoices prepared by the supplier.
  • Standardization and interoperability will be facilitated by e-invoicing, resulting in fewer conflicts between transacting parties, shorter payment cycles, lower processing costs, and increased overall corporate efficiency.

Why is e-Invoicing introduced?

Electronic invoicing, also known as eInvoicing, is a form of electronic billing. This method was used by trading partners, customers, and their suppliers to represent and track transactional documents between one another to ensure the terms of their business agreements are being met.

The reason behind the introduction of electronic invoices or e-invoicing is:

The primary duty of the accounts payable department is to guarantee that all unpaid invoices from its suppliers are authorized, handled, and paid. Processing an invoice involves capturing relevant data from the invoice and entering it into the business’s accounting or financial systems.

Once the feed is completed, the bills must travel through the business procedure of the company to be paid.

An e-invoice is a structured invoice issued in EDI or XML formats, sometimes through online web forms. These papers can be transmitted through EDI, XML, or CSV files, among other methods. Emails, virtual printers, web apps, and FTP sites can all be used to upload them.

Data from PDF or paper invoices may be extracted using imaging software by the business and entered into their invoicing system. Moreover, To avoid mismatch mistakes, the GST data reconciliation process has a significant gap that is closed and plugged using e-invoice.

Data exchange and a decrease in data entry errors are made possible by the ability of different applications to read electronic invoices. E-invoice makes it possible to track supplier-prepared invoices in real-time.

When Is E-invoicing Required ?

If a taxpayer’s e-invoice limit or turnover exceeds the specified limit in any fiscal year from 2017–18 through 2021–22, they must comply with e-invoicing beginning in FY 2022–23. Additionally, the total turnover in India will comprise the total turnover of all GSTINs that fall under a single PAN.

Earlier for taxpayers, aggregate sales over Rs. 500 crore GST e-Invoicing system went into effect on October 1, 2020. From January 1, 2021, eInvoicing was made available to companies with a combined turnover of more than Rs. 100 crore.

The CBIC also announced on March 8, 2021, that enterprises who have annual sales between Rs. 50 crore and Rs. 100 crore will be eligible to use the e-invoicing system beginning on Ap, April 1, 2021.

With effect from April 1 2022, the government recently expanded the use of electronic invoices to companies with annual sales of more than Rs 20 crore. The system will very soon be expanded to include companies with annual revenues exceeding Rs. 10 crores starting on October 1, 2022.

The whole turnover of all GSTINs in India under a single PAN would be included in the aggregate turnover for e-invoicing. You can check and confirm the GSTIN for which you wish to raise the e-invoice using the GST search tool if you have several GSTINs on hand.

Penalty For Not Generating

E-invoice penalties can significantly strain the reputation and cash flow of applicable businesses. In addition to the penalty for not generating an e-invoice, any violation of the e-invoicing regulations may result in many other negative outcomes.

The person whose business turnover is more than 10 Crores must generate e-invoices else you have to pay the penalty for not generating the e-invoice, such as:

  • Each invoice has a penalty of 100% of the tax owed or Rs. 10,000, whichever is larger.
  • 25,000 per invoice in fines for inaccurate invoicing

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Why Choose Marg ERP E-Invoicing

  • Other Software

    E-Invoicing activation
    15k - 25k

    +

    15 - 35 Paisa Per E-Invoice Generation

  • Marg Erp

    100 % Free

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Features That Made Your e-invoicing Process Smart and Simple

Upload e-Invoice directly

Upload e-Invoice directly

Directly upload multiple invoices to IRP (Invoice Registration Portal) through GSTN portal without visiting any other sources & instantly file GST returns

Eway Bill Generation

Eway Bill Generation

Generate & directly upload Single/ Bulk E-way bill with JSON File on the portal & reconcile automatically

Advance Data Validation

Advance Data Validation

Marg ERP automatically validates your data to identify errors, violations, incorrect entries & missing mandatory fields to ensure 100% compliance of legal accuracy

Generation of QR Code

Generation of QR Code

Generate QR Code to provide information about a particular invoice in a quick manner, without retrieving from any external sources

Auto- Reconciliation

Auto- Reconciliation

Upload B2B transaction invoices on GSTN portal electronically & the details will get auto-populated in GST ANX-1 and GST ANX-2

Track e-Invoices

Track e-Invoices

Generate, print and track e-Invoicing in real-time as per the proposed format. Get end-to-end assistance for filing GST returns

How to Generate E-Invoice in Marg ERP?



Start e-Invoicing in Three Easy Steps

Step

1

Login to Software

Go to Misc GSTR Login Credentials Tab

Step

2

Add Credentials

Add your GST Portal Login Credentials & Save

Step

3

Upload e-Invoices

Upload e-Invoices to Invoice Registration Portal (IRP)

Benefits of e-Invoicing in India For Businesses

Create, print, cancel, manage Fast & Automatic Process

Creating and sending electronic invoices is quick and simple with Marg. Creating e-invoices takes a few clicks. This not only helps save time but also offers the possibility of receiving payment from clients more quickly when it is shared to them. The buyer doesn't have to keep reminding the customer to pay.

Create, print, cancel, manage Cost-Effective

Unlike other electronic invoicing systems available in the market, Marg e-invoicing software is extremely cost-efficient. Specially designed for small & medium-sized businesses the pricing starts from just Rs. 999 per month.

Create, print, cancel, manage Real-Time Tracking of eInvoices

Marg e-invoicing software allows the tracking of invoices in real-time prepared by the supplier on Marg ERP 9+. This permits the faster availability of input tax credit (ITC).

Create, print, cancel, manage Identify Fake Invoices

With e-Invoicing, the chances of errors and mistakes decrease resulting in the reduction of tax evasion and eliminate the generation of fake invoices.

Create, print, cancel, manage Get Input Tax Credit

Better Customer Service. Apart from the basic e-invoicing benefits, Marg electronic invoicing software offers better customer service with handholding training & real-time assistance in the generation of e-invoices.

Create, print, cancel, manage Electronically Validated Invoices of Credit/Debit Note

Easy Reporting of B2B Invoices. Under the system of e-invoicing, the taxpayer needs to report the e-invoices only once. It is then authenticated by the Invoice Registration Portal (IRP). After validation of the e-invoice, a unique Invoice Reference Number is generated & the details are auto-populated with Marg e-invoicing software in GSTR1.

Create, print, cancel, manage Auto-Population in GST Return filing /E-way Bill Generation

With Marg e-invoicing software, the process of e-way bill generation is very simple. The taxpayer has to only add the vehicle details in the Part A of the e-way bill & get an auto-populated e-invoice generated from the system which gets easily authenticated at the GST portal.

Create, print, cancel, manage Can be archived for using later during Audits

Helps in Tax Calculation /Reduces Tax Evasion. Real-time access to data eliminates the scope of manipulation, hence tax is calculated in real-time. Scope of fake GST invoices etc. is not there as the input tax credit & output tax details are auto-filled.

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Frequently Asked Questions


E-invoicing also known as electronic invoicing; is a system in which all B2B invoices are electronically uploaded and verified by the designated portal. Once authentication has been completed, a specific Invoice Reference Number (IRN) and QR code are generated and must be printed on the invoice. The software on which we do all these processes is called e-invoicing software.
A business person whose turnover is less than 10 crore is not eligible for e-invoicing. However, as per CBIC's new notification, the business person whose turnover is 5crore will be eligible for e-invoicing from January 2023.
Taxpayers whose business turnover is 10 crore or more are eligible for e-invoicing. However, as per the central board of indirect taxes, this will exceed to 5crore from January 2023.
Currently, the limit for E-invoice in GST is 10 crore. However, the yearly turnover requirement for e-invoices has been decreased to 5 crores. Businesses with a yearly revenue of more than 5 crores are required by the Goods and Service Tax Council to switch to e-invoicing as of the following year.
An insurance firm, a banking company, or a financial institution, such as an NBFC or goods transport agency, transports items by road in a goods carriage, and the provider of transportation services that include passenger transportation are exempted from e-invoicing.
The provisions of Rule 46 of the Central Goods and Services (CGST) Rules, 2017 apply here. According to Rule 46, the signature/digital signature of the supplier or his authorized representative is required while issuing invoices.
The Penalty for not generating an e-invoice – is 100% of the tax due or Rs. 10,000, whichever is higher, for every invoice, and the penalty for incorrect invoicing is Rs. 25,000 per invoice.
There is no set time limit. You can generate an e-invoice within a few days after the date of the B2B invoice. However, it is recommended for you generate IRN within the Time of Supply provisions of the CGST Act.
E-invoicing applies only to B2B invoices and not B2C invoices. However, B2B invoices require both e-way bills and e-invoices, whereas B2C invoices only require e-way bills to be generated wherever an e-way bill is applicable.
The Registration & Login Process For The E-Invoice Portal:
  • You will receive an OTP on your registered mobile number.
  • In the "Enter OTP" field, the user will enter their OTP, and then they will click "Verify OTP."
  • Completion of data in all mandatory fields;
  • Validity of supplier GSTIN (Goods and Services Tax Identification Number);
  • Validity of buyer GSTIN;
  • Validity of invoice number and financial year;
  • Whether the invoice already exists in the GST system.
Yes, e-invoice compliance is mandatory for export transactions.

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Read Our Latest Blogs on e-Invoicing


blog

e-Invoicing Eligibility

E-invoicing is mandatory for taxpayers with a turnover greater than INR 500 crores in a financial year with effect from 1 October 2020....

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blog

E-Invoice Registration on IRP

As we already know, a taxpayer will have to create the invoices on his own accounting/ERP software and will have need to upload the same on the IRP...

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blog

Top Benefits of E-Invoicing Software.

Apart from the basic e-invoicing benefits Marg electronic invoicing software offers better customer service....

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blog

GST E-Invoice Format

The e-invoicing system was implemented from October 1, 2020 and the latest e-invoice format was introduced by the CBIC...

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Read More Blogs