Goods and Services Tax – GST Dated:- 2-1-2021 – News – GST e-invoice system completed journey of 3 months; Enabled more than 37000 tax payers to generate more than 1680 Lakh Invoice Reference Numbers (IRNs) 603 Lakhs e-invoices generated in December 2020 as compared to 589 lakhs in November 2020 GST e-invoice system, the game changer in the GST system, has completed journey of three months and has facilitated smooth transition of the tax payers to the new platform. It has enabled more than 37000 tax payers to generate more than 1680 Lakh Invoice Reference Numbers (IRNs), during last three months from the NIC developed e-Invoice system. Starting with with 495 lakhs during October 2020, generation of e-Invoice has increased t
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n bringing the errors down. NIC has also started sending the daily update to the generators of IRN about the number and value of the IRN generated by him/her. The Government has reduced the aggregate turnover cut off to ₹ 100 Crores per annum for generation of IRN by the tax payers from 1st January 2021. NIC has already enabled the API and offline tool based sites for these tax payers. NIC is also geared up with adequate infrastructure to handle the generation of e-invoices from these tax payers from 1st January 2021. NIC portal facilitates the big tax payers, whose turnover is more than ₹ 500 Crores, to enable direct API access to their suppliers and clients from their systems. Keeping requirements of small tax payers i
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