E-Way Bill & E-Invoicing

EWay Bill is an Electronic Way bill for movement of goods to be generated on the eWay Bill Portal. A GST registered person cannot transport goods in a vehicle whose value exceeds Rs. 50,000 (Single Invoice/bill/delivery challan) without an e-way bill that is generated on ewaybillgst.gov.in. When an e-Way bill is generated, a unique Eway Bill Number (EBN) is allocated and is available to the supplier, recipient, and the transporter.

E-invoicing, i.e, Electronic Invoicing is an electronic authentication mechanism under GST. Under the mechanism, all the B2B and Export invoices generated by a business need to be registered with the Government system i.e. the Invoice Registration Portal (IRP) and obtain a unique identification number for every invoice called Invoice Reference Number (IRN). Along with IRN, the IRP will also create a digitally signed QR code with select details from invoice and digitally sign the uploaded invoice data.

Thus, an e-invoice is a document which has an IRN associated with it and the digitally signed QR code printed on it.

Once an IRN is generated and invoice has been authenticated, its details shall be made available on the GST portal and EWB portal in real-time.

E-Invoicing has been introduced in the country in a phased manner based on the Aggregate Annual Turnover of the companies. The first phase went LIVE for companies with turnover more than Rs.500 CR on 1st October 2020. The second phase went LIVE for companies with turnover more than Rs.100CR on 1st January 2021. The third phase went LIVE from 1st April 2021 for companies with Rs 50 CR and above turnover.