Why E-Invoicing is in Focus nowadays

Category: Technology

The government has initiated the trial of the e-way bill system from 15 January 2018 for the generation of e-way bills for intra-state and Interstate movement of goods but the system is expected to be rolled out soon and make it mandatory for transporters and organizations to generate the new e-way bill online according to the law of GST and in compliance with rules of the CGST rules. Every taxpayer or every registered person who transferred his goods or causes to the movement of goods of value exceeding ₹50,000 concerning supply or the reasons which are other than supply or for inward supply from an unregistered person then e-way bill generation is necessary. The relevance of GST E-invoicing software plays a role, as it is well known that E-invoicing is not a new technology but its relevance has grown multiple folds in recent times. For choosing the best E-invoicing software india, users must keep an eye out for one of the features for choosing E-invoicing software is its ability to integrate with an accounting system. This software allows the users to see where your operating funds were channeled and for that you can also determine where your business finances are headed and in which direction. E-way bill portal has also released the e-way bill APIs to license GST Suvidha providers for helping large transporters or large organizations in automating the entire process by integrating their solution within an ERP taxpayer or an existing e-way bill system for generating new e-way bills online in real-time. A user can generate the bulk E-way bill from the system by using software or when the user needs to generate multiple bills available in one shot they can generate the bulk E-way Bill by adopting touchless technologies of e-invoicing. The concept of an E-way bill to generate online under GST was to abolish the Border Commercial Tax post to avoid the evasion of tax in India. So it is crucial to know every aspect related to the E-way bill system under GST. The E-way bill system is very much important for both parties whether it would be for the government or the business industry.