Electronic Invoicing (E- Invoicing) under GST Tax Invoice
Get started with your e-invoicing journey under GST
Easily transition your current invoice management system to new e-invoicing reform under GST to stay compliant, simplify e-invoice generation and use GST compliance automation technology as a strategy to scale your business.
Aatral Technologies is a leading provider of cloud-based tax compliance automation for businesses of all sizes, today announced the availability of Aatral Technologies GST E - Invoicing, an end-to-end solution that helps companies manage e-invoicing requirements and comply with India's e-invoicing reform. The new offering builds on Aatral Technologies range of technological solutions available to improve the Goods and Services Tax (GST) compliance experience for businesses in India by validating. storing and managing invoices, and providing the option to automate GST returns and e-way bills.
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New e-invoicing mandate in India places increased challenges on businesses
The latest announcement on e-invoicing enforcement, beginning October 1, 2020, has created urgency among businesses to conform with the new legislative reform, and has increased the compliance and technological challenges on businesses.
Under the Central Board of Indirect Taxes and Customers rule, businesses having an annual turnover above Rs 500 crores (approximately USD 68 million) in India will be required to generate tax invoices or debit-credit notes from their enterprise resource planning (ERP) or other accounting systems and register their transactions with the government's invoice registration portal. After the portal verifies the invoice, it's digitally signed by the GST Network (GSTN), which generates the signed e-invoice with an Invoice Reference Number (IRN) and a Quick Response code (QR code). These e-invoices are then issued to the business for maintaining records and sharing with their business stakeholders.
Complying with new e-invoicing requirements means businesses must update their ERP and accounting systems to effectively manage their GST reporting obligations. Global enterprises operating in India will also need to comply with e-invoicing obligations, which require the continuous generation of e-invoices with correct IRNs and QR codes. Due to the real time nature of e-invoicing, businesses that manually generate e-invoices will face added complexity and burden.
Automate and gain control over e-invoicing and GST compliance in India with Aatral
Aatral Technologies India Pvt Ltd GST e-invoicing helps businesses generate bulk e- invoices in real time and in batches for their transactions while effortlessly automating GST returns and e-way bills. This enables businesses to:
Simplify the e-invoice management at scale. Drop manual compliance processes while generating millions of e-invoices with GST Identification Numbers (GSTIN) and enable customized invoice printing.
Provide seamless integration with an existing software stack. Leverage flexible API integrations or file uploads to minimize disruptions to current workflows within ERP and other accounting systems.
Improve governance and reduce business risk. Utilize a complete India-specific GST compliance suite to automate GST returns, reconciliations, and e-way bills.
Create a transparent, frictionless experience. Reduce disruptions due to flawed or missing information with built-in validation of invoice data during e-invoice creation.
Scale resources and increase efficiency. increase efficiency by allocating the time and attention of internal resources toward higher-value work.
"Aatral Technologies GST e-invoicing solution provides businesses with a platform that easily integrates with existing commerce technology and automates the process of generating and filing e-invoices."
Aatral Technologies GST e-invoicing can be leveraged as an integrated solution or as a stand-alone module for generating e-invoices and supporting compliance needs in India.
Features and benefits
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Highly secure data transfer
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Don't worry about scale
Handle high volume of seasonal invoices or rush during peak hours. Get the infrastructure to scale, capture and generate e-invoices.
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Information gathering and analysis
Exchange secure invoice data between your ERP and invoice registration portal (IRP) in the format recommended by GSTN.
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Digital Signature and QR code
Get provision to add your digital signature and QR code before transmitting the e-invoice with IRN to your ERP records
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Pay-as-you-go
Sign up for a subscription and save money by avoiding the cost and time needed to set up an entire in-house e-invoicing system.
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Always stay connected
Connect with multiple GSPs and Invoice Registration Portals to have a fail-safe environment for e-invoice generation.
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Analytics and custom reports
Pre-built analytics dashboard helps you track your progress and provide you with necessary compliance intelligence. You can even build custom reports.