GST E-Invoicing: Is it necessary?
To use the electronic invoice system, you will need to upload an invoice (invoice registration platform) to the IRP. It gives information on all B2B supply transactions. In order to create an invoice, credit or debit note in your accounting program/ERP, first, you need to set up an account. GST prohibits incorrectly issuing and failing to issue invoices. Non-issuance or incorrectly issuing an invoice can result in a penalty of up to Rs. 10000, or 100% of the tax due. Incorrect billing is punishable by Rs 25000.
