The Goods and Service Tax Network (GSTN) has issued a Frequently Asked Question (FAQ) to rollout the smooth implementation of the E-Invoicing System under GST. Some Important questions picked up in the FAQ are discussed as hereunder:-
Q. Will there be a time limit for e-invoice uploading for registration?
Ans: Yes, that will be notified by the Government. Without registration of e-invoice, the same will not be valid. Required changes will be made in the law. Once uploaded to the invoice registration portal (IRP), it will be registered immediately, on a real-time basis.
Q. Whether e-invoices generated through the GST system can be partially/fully cancelled?
Ans: E-Invoice can’t be partially cancelled. It has to be fully cancelled. The e-invoice mechanism enables invoices to be cancelled. This will have to be reported to IRN within 24 hours. Any cancellation after 24 hrs could not be possible on IRN, however one can manually cancel the same on GST portal before filing the returns.
Q. How would amendments be allowed in e-invoice?
Ans: Amendments to the e-invoice are allowed on GST portal as per provisions of GST law. All amendments to the e-invoice will be done on GST portal only.
Q. Please clarify whether exports would require e-invoice compliance.
Ans: Yes. The e-invoice schema also caters to the export invoices as well. The e-invoice schema is based on the most common standard, this will help the buyer’s system to read the e-invoice.
The Complete Set of FAQ can be accessed at: http://www.a2ztaxcorp.com/wp-content/uploads/2020/01/Pune-e-invoice-presentation-for-workshop-19-12-2019-V-2.0-2.pdf