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Benefits of E Invoicing
GST DOST's BLOG
| Resource | E-invoicing |
Better taxpayer services
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One time reporting on B2B invoice data in the form it is generated to reduce reporting in multiple formats (one for GSTR-1 and the other for the e-way bill).
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To generate sales and purchase register (ANX-1 and ANX-2) from this data to keep the Return (RET-1 etc.) ready for filing under New Return. e-Way bill can also be generated using e-Invoice data
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It will become part of the business process of the taxpayer
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Substantial reduction in input credit verification issues as the same data will get reported to the tax department as well to buyer in his inward supply (purchase) register.
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On receipt of info thru GST System as the buyer can do reconciliation with his Purchase Order and accept/reject in time under New Return
Reduction of tax evasion
• Complete trail of B2B invoices
System-level matching of input credit and output tax
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Efficiency in tax administration
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Elimination of fake invoices
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GST Dost earlier known as My Service Tax is a dedicated team of seasoned and talented professionals comprising group of Chartered Accountant (CAs), Company Secretary (CSs), and Advocates.
We are well versed with the Goods And Services Tax Regulatory Framework and are committed to provide correct information and advice within time to clients.
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