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1. What is an invoice? An invoice is an itemized list that records the products or services you provided to your customers, the total amount due, and a method for them to pay you for those items or services. You can send electronic invoices or paper invoices. Invoices can be paid in one payment or in installments.

Tax invoice is an invoice issued for taxable supply of goods & services. Tax invoice broadly contains details like description, quantity, value of goods/service, tax charged thereon and other particulars as may be prescribed.

Further, e-invoicing doesn't apply in B2C transactions (i.e. supply of goods or services or both to an unregistered person).

As per the new update, from 1st August 2023, all the registered businesses whose annual turnover (based on PAN) in any preceding fiscal year from 2017-18 onwards surpasses 5 crores, will have to generate e-invoice as a mandate.

The e invoicing applicability has to be implemented by every taxpayer who: Has a turnover of INR 500 crores or more (based on PAN) in the previous financial year. Issues B2B invoices. Supplies goods or services or both to a registered person(recipient or transporter of supplies cannot generate e-Invoices).

E-Invoicing under GST is mandatory for businesses with an annual turnover above Rs. 5 Cr from August 1, 2023. If your annual turnover falls under the 6th wave of e-Invoicing in India, do read this blog.

What information needs to be on an invoice? The title “Invoice” clearly displayed. You and your customers' full name and address. The invoice date. The payment due date. A unique invoice number. A description of the products or services sold. The quantity and price of each product/service.

As per the latest guidelines by the GSTN, businesses with an annual turnover of more than Rs. 10 crores are required to generate electronic invoices for B2B transactions. Companies must register with the e-invoicing system and generate e-invoices for all business transactions.

1. What is an invoice? An invoice is an itemized list that records the products or services you provided to your customers, the total amount due, and a method for them to pay you for those items or services. You can send electronic invoices or paper invoices. Invoices can be paid in one payment or in installments.

Tax invoice is an invoice issued for taxable supply of goods & services. Tax invoice broadly contains details like description, quantity, value of goods/service, tax charged thereon and other particulars as may be prescribed.

Further, e-invoicing doesn't apply in B2C transactions (i.e. supply of goods or services or both to an unregistered person).

As per the new update, from 1st August 2023, all the registered businesses whose annual turnover (based on PAN) in any preceding fiscal year from 2017-18 onwards surpasses 5 crores, will have to generate e-invoice as a mandate.

The e invoicing applicability has to be implemented by every taxpayer who: Has a turnover of INR 500 crores or more (based on PAN) in the previous financial year. Issues B2B invoices. Supplies goods or services or both to a registered person(recipient or transporter of supplies cannot generate e-Invoices).

E-Invoicing under GST is mandatory for businesses with an annual turnover above Rs. 5 Cr from August 1, 2023. If your annual turnover falls under the 6th wave of e-Invoicing in India, do read this blog.

What information needs to be on an invoice? The title “Invoice” clearly displayed. You and your customers' full name and address. The invoice date. The payment due date. A unique invoice number. A description of the products or services sold. The quantity and price of each product/service.

As per the latest guidelines by the GSTN, businesses with an annual turnover of more than Rs. 10 crores are required to generate electronic invoices for B2B transactions. Companies must register with the e-invoicing system and generate e-invoices for all business transactions.