YOU ARE HERE  Home > Blogs >

Benefits of introduction of e-invoice from GST perspective


Better taxpayer services

  • 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 e-way bill).

  • 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

  • It will become part of the business process of the taxpayer

  • Substantial reduction in input credit verification issues as same data will get reported to tax department as well to buyer in his inward supply (purchase) register.

  • On receipt of info thru GST System as 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

  • Efficiency in tax administration

  • Elimination of fake invoices