In the 38th GST Council meeting, the GST Council has approved introduction of ‘e-invoicing’ or ‘electronic invoicing’ in a phased manner for reporting of business to business (B2B) invoices to GST System, and decided to implement the E-Invoicing from 1st Jan 2020. Currently, the E-Invoicing system will be used to report only B2B invoices to the GST System. NIC being the first Invoice Registration Portal (IRP) has also made the E-Invoice process through API mode. Taxpayers can integrate with MasterGST E-invoice system to generate e-Invoice and cancel e-invoce.
WHAT IS E-INVOICING & BENEFITS
GST e-invoice is the introduction of the digital invoice for goods and services provided by the business firm generated at the government GST portal. The concept of GST e-invoice generation system has been taken into consideration for the reduction in GST evasion. we can generate e-invoice in two types by using API and Using e-invoice software.
Generate E-invoice Using MasterGST APIs:
There are 5 types of e-invoice APIs
- Authentication
- Generate IRN
- Get invoice Details
- cancel e-invoice
Authentication – To use any e-invoce API we need an auth-token value . By using Authentication call we can get this auth-token value that can be used in other calls.
Generate IRN – in this generate irn we will send a json with all our invoice details . if the details are correct the response will be given with an irn number and an acknowledgement number. Note down the Acknowledgement number to avoid Duplication of data.
Get invoice Details – We use this call to get the invoice details by jest giving irn number
cancel e-invoice – We use this call If we want to cancel the e-invoice .
These API integration with SAP, Oracle, etc Made Easy Using MasterGST e-Invoice system. Using this taxpayer can record the Invoice Reference Number and Acknowledgement number on their system online. These APIs will help in eliminating the duplicate or double-entry of the invoice as the GST system will automatically fetch the data from the government system.Automation using APIs will eliminate the errors that can occur during data entry for e-Invoice. The Generation of e-invoice will automatically generate e-Way bill and ANX-1 later.
