GST e-Invoicing and time of supply provisions: Should they be in sync?
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GST e-Invoicing and time of supply provisions: Should they be in sync?By Rahul Aggarwal, ET CONTRIBUTORS
Last Updated: Apr 17, 2021, 01:25 PM IST
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Synopsis
The concept of e-invoicing at this scale is new in the Indian indirect tax environment and its impact on regular commercial practices has just started to emerge.
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An invoice must be issued on or before the undertaking of certain events viz. delivery of goods/provision of service.
Over the past six months, we witnessed the gradual implementation of various e-invoicing provisions based on the turnover of the taxpayers. Various notifications have been issued, prescribing the taxpayers, to comply with e-invoicing requirements. Such taxpayers have been generating IRNs and QR codes from the IRP and issuing tax invoices to the recipients in respect of their outward supplies.
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